9-28-11: Trading Investment for Visas
The EB-5 visa program has existed since the early 90s. It’s meant to spur investment in American businesses…by providing permanent residency as a perk to foreign nationals who invest. It’s been used with increasing frequency since the economic downturn, and last December, a new regional center–called the Maryland Center for Foreign Investment— opened in Columbia to lure foreign investors to Maryland companies. The center’s clients include the Cordish Company, which needs investors for the Arundel Mills casino.
Sheilah discusses this with Muzaffar Chishti, who’s with the Migration Policy Institute, and with John Wagner, who wrote a front page piece on this in last week’s Washington Post.