You are here[HOT] NY Times article on EB-5 issue of TEA
[HOT] NY Times article on EB-5 issue of TEA
One knowledgeable EB-5 practitioner made several good points regarding the above article which we would like to share:
1. What is wrong with "gerrymandering" when the the law permits states to make TEA determinations, and states are certainly free to certify TEA based on a "gerrymandered" map. The article would have been more informative if the article could show why or how the TEA designation was unlawful.
2. The article implies that New Yorkers are fully employed, while people in Vermont are living in the street. That is false. There are plenty of places in NYC, including and especially in central areas, where unemployment figures are high.
3. It appears that there is an "ambush" attempt to put pressure on Director Mayorkas to make it illegal what is lawful under the EB-5 law.
4. Number of foreign applicants quadrupling to close to 4,000 is misleading in that the article seems to imply that there are close to 4,000 EB-5 applicants. Actually, each and every family members are included in the 4,000. Therefore, the 4,000 number actually amount to around 1,000 to 1,200 EB-5 investors, which is really a peanut when you compare to number of immigrants through other classifications of immigration.