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EB-5 project involving NBA's Nets

By eb5attorney - Posted on 25 September 2010

Here is a link to the EB-5 project involving NBA's Nets.

The author has some valid points but misses some points in that the huge "grey" area related to the job-creation methodology is due to the way EB-5 law is written and USCIS' failure to quickly clarify the job-related issues. USCIS has flip-flopped on construction jobs issues, overturning (maybe political pressure?) on the long-standing policy of not counting ANY construction jobs (direct or indirect).

Heck, we believe we know EB-5 law, but when it comes to figuring out USCIS' policies on some of the important job-related issues, there is no certainty at all.

However, we believe the real economic effects from EB-5 project comes from the spendings of the newly-arrived EB-5 investor and families: they buy houses, cars, send kids to private schools and make investments in the U.S. Therefore, even if the job-calculation methodology is fuzzy, believe me, there are positive economic effects made by these EB-5 investors. And this positive economic effects are not taken into account!