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Lastly, allowing only direct and indirect jobs created within
the geographical boundaries of the targeted employment area
(TEA) is misguided on two levels. First, it assumes that induced
jobs should not count toward job creation—as if those jobs
do not exist. This debate should be left to economists—not to
attorneys and immigration officers. What I do know is that the
econometric models used to measure induced jobs are standard
for use by economic development professionals and policymakers to measure or forecast the economic impact that will result
from a project. Furthermore, such a policy does not give credit
for jobs created outside the TEA. If your child were hired by
a supplier outside the TEA because of a project located in the
TEA, I am quite sure s/he would not care where the employer
is located.
Balancing the benefits of EB-5
with security concerns
EB-5 is, at its core, a job creation program that encourages
foreign entrepreneurs to invest in the United States. Instead
of discouraging them, we should welcome them with open
arms. They don’t take jobs. They create them—at no cost to
the taxpayer. In my experience, they go to restaurants and often
spend money more than the middle class. They buy homes that
cost more, and thus pay more property taxes. They hire housekeepers, lawn maintenance companies, and more, creating an
overwhelming impact.
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