Obama Administration Hides Huge Tilt of EB-5 Funds to New York City
By David North, November 21, 2016
Newly analyzed data shows a remarkable concentration of immigrant investor (EB-5) funds in New York City, and particularly in Manhattan (by far the richest of the five boroughs).
In this academic data set — created by two university professors, not by CIS — we find 68 percent of the EB-5 funds noted therein went into New York City, which has 2.7 percent of the nation's population.
The EB-5 visas are, in effect, purchased by rich aliens for $500,000 per family. These visas can then be turned, if all goes well and a couple of years pass, into permanent resident alien status for everyone in the family. The program is due to sunset on December 9 unless Congress acts to extend the deadline.
http://cis.org/north/obama-administration-hides-huge-tilt-eb-5-funds-new-york-city
