Home »

Industry News and Articles

Death of Green Card Program Could Halt Brownfields Projects

BySylvia Carignan

Growing foreign investment in U.S. brownfields redevelopment projects may drop dramatically with the end of a decades-old green card program.

Ending the program would be “devastating,” to foreign investment Toby Rittner, president and CEO of the Council of Development Finance Agencies, told Bloomberg BNA in an email.

“(EB-5) has infused billions into economic development at no financial cost to the federal government. Should the program expire, foreign investors will simply go elsewhere,” he said in an email. “In terms of brownfields, it simply removes another financial resource available to our industry, sadly.”

Click here to read more