NEW YORK, July 27, 2015 /PRNewswire/ -- E3 Investment Group is pleased to announce that the first I-526 green card petition based on its Scalable-Direct® business model has been approved by United States Citizenship and Immigration Services. "In many ways, this is the final milestone in our Scalable-Direct business model," noted E3 Investment Group CEO Matthew Gordon. "This approval is related to our E3 Cargo trucking subsidiary. To date, we have deployed capital, run the company successfully and created more than the needed jobs to support an eventual I-829 petition (removal of green card conditions) approval. We did all this in a matter of months where most other sponsors take years, if ever. The only thing left was for USCIS to grant our investor the initial green card approval. This has now happened and we now focus our attention to further scaling the leading direct business model in the EB-5 program."
E3 Investment Group's Scalable-Direct business model has garnered considerable attention from significant business and policy institutions. JP Morgan Chase recently published a research report on business financing in which they chose E3 Cargo as the example for the EB-5 program. E3 Cargo was also featured as a case study in a white paper published by the Initiative for a Competitive Inner City (ICIC), a not-for-profit foundation founded by esteemed Harvard Business School Professor Michael Porter (See http://www.icic.org/). ICIC is the leading authority on inner-city economic development with a reputation for effectively helping cities to develop strategies that capitalize on a community's unique competitive advantages. The white paper was presented at a policy forum at Harvard University's Kennedy School of Government at which Mr. Gordon served as a panelist.
Mr. Gordon further noted, "The EB-5 program is at a crossroads in its maturation. The program brings capital into the United States and it creates jobs, but there are some real questions as to whether large parts of the program are working as intended by Congress. Take Targeted Employment Areas (TEAs) for example, the law was supposed to provide a reduced investment threshold for investments made in high employment or rural areas to spur growth in those areas. The problem is that the administration of those rules allows for the gerrymandering of census tracts and other political geographies to circumvent the spirit of the law so sponsors can attain TEA designation, but deploy the capital in high income areas with low unemployment."
"Then you have some very large projects that either were going to get financing with our without EB-5 capital and others that do not really provide much economic benefit to the US, despite the conclusions of the econometric methodologies that USCIS accepts as valid. This isn't supposed to be about garbage-in garbage-out numerical fantasies. It's supposed to be about creating real permanent employment that helps real people and grow our economy."
"These and other issues need to be fixed so that the EB-5 program can hold its place as a crown jewel of US immigration policy. We support some of the ideas in the draft legislation. While many sponsors will have problems dealing with real TEA rules and real job creation requirements, our projects, like E3 Cargo, are in single census tract/political geographies with high levels of unemployment and each investor's capital creates more than 10 permanent well-paying jobs.
We bring the investment capital and we create the jobs, not as 'projects', but as living breathing companies with actual employees that together contribute to and improve the communities in which we operate. We believe this is the right vision for the EB-5 program, and we are thankful that USCIS has granted our investor his green card approval and agrees with us."
A copy of the JP Morgan report can be found at this link: http://www.icic.org/ee_uploads/pdf/Financing_Growth_FINAL.pdf
A copy of the ICIC white paper can be found at this link: http://www.icic.org/ee_uploads/publications/ICIC_EB5Impact_Report.pdf
About E3 Investment Group
E3 Investment Group is the leader in structuring direct EB-5 investments that are designed to encourage international investment in the United States. E3iG's businesses are structured using its proprietary Scalable-Direct® business model that allows investors to participate in opportunities that do not require the time and expense of regional center sponsorship, while affording them the benefits of being part of larger opportunities, including having the companies that receive their investment capital managed by a team of industry professionals.
E3 Investment Group's mission is the harmonious synthesis of social and economic value creation. Our three mandates-"The three E's" are: Employment – to create well-paying permanent jobs; The Environment – to conduct our operations in a manner that minimizes our impact on the industries in which we focus; and Earnings – so we can ultimately do well for our investors and ourselves and do good for the communities in which we operate.
For a short video on how Scalable-Direct® works, see www.e3investmentgroup.com/scalable-direct
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