Renew job-creating EB-5 program to help spur Columbia growth
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As mayor of Columbia, my No. 1 priority is creating jobs and economic prosperity in our city. Attracting investment is critical to this goal, which is why I’ve been a strong advocate for the EB-5 Regional Center Program, a federal initiative that’s created more than 1,300 jobs in South Carolina — at no cost to taxpayers.
For more than 25 years, this program has been key for financing economic-development projects across America. EB-5-funding covers infrastructure, real estate, energy, health care, schools, hotels and manufacturing, providing the “gap” capital needed to jump start projects that otherwise would not be viable.
The Brooking Institute estimates that EB-5 has directly generated more than 85,000 jobs and $5 billion in investment, with most of this realized since 2010 as the program has become more established.