EB-5 AND THE IMMIGRANT GROWTH MACHINE
By Edward S . Smith , Ph . D .
The “ immigrant growth machine ”— a phrase describing those who work to spur growth in urban areas with special attention being paid to foreign capital , immigrant entrepreneurs , and economic development coalitions — is driving investment and job creation across the United States .
This article offers a brief overview of the immigrant growth machine , and demonstrates the relationship between immigrant growth machines and the EB-5 Immigrant Investor Program . Central to this analysis is the fact that the EB-5 program has helped facilitate the attraction of entrepreneurs and investment to communities nationwide , and has created jobs in communities seeking to jump-start their economies through innovative economic development programs .
EB-5 Supports Immigrant Growth Machine
The EB-5 program supports the immigrant growth machine in three key ways : First , as an important financing mechanism utilized to support economic development projects , it often leverages foreign capital to create jobs . Secondly , the EB-5 program also functions as a component of the growth machine due to its ability to facilitate and stimulate international entrepreneurship , particularly in urban communities across the United States . Lastly , due to its ability to align the interests of economic development practitioners and community stakeholders in support of attracting jobs and increased investment via immigrant populations and foreign investment , the EB-5 program serves as an integral part of the immigrant growth machine .
As an economic development concept explored by Jan Lin and Melody Chiong ( 2016 ), and inspired by Harvey Molotch ’ s ( 1976 ) work on urban growth machines , the immigrant growth machine describes the stakeholders who work in concert to spur growth in urban areas , with a focus on foreign capital , immigrant entrepreneurs , and economic development coalitions .
Growth in the immigrant growth machine is defined by increases in economic activity and employment , and key actors include real estate developers , small business owners , and government officials . Economic activity attributed to the immigrant growth machine has been observed on the city and state levels , with leading metropolitan are-
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