The EB-5 federal program that makes foreign investors eligible for visas expires Wednesday, and proposals to reform the controversial capital-raising mechanism could bring major changes.
A manufacturing center in Kent, a Seattle senior-housing development and a vineyard in Horse Heaven Hills are among the businesses whose financing could be disrupted if Congress fails to extend a federal program that has attracted billions of dollars in capital from immigrant investors.
The program that allows companies with federal licenses to raise capital from foreigners seeking an EB-5 visa expires Wednesday. Nationally there are more than 730 federally approved firms, refered to as “regional centers,” that can raise money through the program and channel it into projects, most often in real estate.
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