Wednesday, February 2, 2011
Leveraging The International Status of Our City For Jobs
The EB5 visa program is designed to provide foreign investors with a visa if they invest in a business that employs at least ten full-time employees, located in a targeted area. What is a targeted area? "A rural area or an area with 150% the national unemployment rate". With unemployment at 25% in Ward 8 (and at 40% when counting those who have given up looking), that area of the city qualifies as a targeted area and this option for job creation should be explored. If the people choose me to be the next At-Large City Councilperson, I plan to aggressively work with embassies throughout the city to encourage foreign investors to seek EB5 visas by investing in businesses in our most challenged neighborhoods. I think it's time we used the international status of our city and the heavy international presence in our region to our advantage. Let's help the poorest neighborhoods in the District join the global economy.
(Flickr photo from afagen)