The NYCRC was approved by the United States Citizenship and Immigration Services, a division of the United States Department of Homeland Security, to secure foreign investment for real estate and infrastructure projects under the EB-5 Immigrant Investor Program. The company was the first regional center approved in New York City. Congress created the EB-5 program to stimulate economic development through foreign investment. The program’s mandate is to use foreign investment to spur job creation while simultaneously affording eligible foreign investors the opportunity to become lawful permanent residents of the United States.
Over the past 15 years, the NYCRC has provided $1.58 billion of capital to help fund 22 economic development projects in Brooklyn, Queens, Manhattan, and the Bronx.
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