EB5 Investors Magazine Volume 2 Issue 1 | Page 10

Continued from page 7 Lastly, allowing only direct and indirect jobs created within the geographical boundaries of the targeted employment area (TEA) is misguided on two levels. First, it assumes that induced jobs should not count toward job creation—as if those jobs do not exist. This debate should be left to economists—not to attorneys and immigration officers. What I do know is that the econometric models used to measure induced jobs are standard for use by economic development professionals and policymakers to measure or forecast the economic impact that will result from a project. Furthermore, such a policy does not give credit for jobs created outside the TEA. If your child were hired by a supplier outside the TEA because of a project located in the TEA, I am quite sure s/he would not care where the employer is located. Balancing the benefits of EB-5 with security concerns EB-5 is, at its core, a job creation program that encourages foreign entrepreneurs to invest in the United States. Instead of discouraging them, we should welcome them with open arms. They don’t take jobs. They create them—at no cost to the taxpayer. In my experience, they go to restaurants and often spend money more than the middle class. They buy homes that cost more, and thus pay more property taxes. They hire housekeepers, lawn maintenance companies, and more, creating an overwhelming impact. 8 T