USCIS asked to speed up processing of proposed EB-5 regional center in CNMI

Gov. Benigno R. Fitial asked U.S. Citizenship and Immigration Services Director Alejandro Mayorkas to expedite processing of a pending application for a regional economic center in the CNMI for EB-5 or immigrant investors, so that the islands can start realizing job and economic gains.

USCIS administers the “EB-5” program created by Congress in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors.

The minimum qualifying investment in the U.S. is $1 million, but in high unemployment area or rural area in the U.S., the minimum qualifying investment is $500,000. The investor has to create or preserve at least 10 full-time jobs for qualifying U.S. workers within two years of the immigrant investor’s admission to the U.S. as a Conditional permanent resident.

Fitial’s letter, a copy of which was obtained from the administration this week, was referring to an application submitted to USCIS Processing Center in December 2011 by a private entity, Marianas EB-5 Regional Center, and was given the unique identifier number ID 1202050579.

Marianas EB-5 Regional Center is a partnership between Robert H. Jones, founder and chairman/CEO of the Triple J Group of Companies, and Juan-Carlos Benitez, president of the Washington Pacific Economic Development Group and a former special counsel for the Office of Special Counsel for Immigration-Related Unfair Employment Practices at the U.S. Department of Justice.

“I understand the tremendous workload that your organization is faced with; however, the expedient processing of the Regional Center application will be greatly appreciated,” Fitial told Mayorkas.

Under a pilot immigration program first enacted in 1992 and regularly reauthorized since, certain EB-5 visas are set aside for investors in Regional Centers designated by USCIS based on proposals for promoting economic growth.

Michael Ada, principal owner of Integrated Professional Solutions LLC that has an exclusive contract with Jones on this undertaking, confirmed yesterday that Marianas EB-5 Regional Center is now just waiting for a final decision from USCIS.

“We have already received a word from USCIS that they are processing the application. Hopefully we can get it approved soon. A lot of investors prefer this visa because of its job creation potentials,” Ada told Saipan Tribune yesterday.

More information about Marianas EB-5 Regional Center is available at http://marianaseb5.us.com.

Fitial said the CNMI is currently addressing the impacts that the changes in immigration through U.S. Public Law 110-229 have brought.

“With a tremendous amount of uncertainty brought about by the myriad of dynamics, inclusive of the implementation of PL 110-229 and the mandated increase in minimum wages, the prospects for new investments into our jurisdiction are very limited,” he said.

The governor told Mayorkas that “the quick implementation of the EB-5 investment program through an approved Regional Economic Center, the CNMI will hopefully be able to effectively strategize on attracting qualified EB-5 investors to participate in quality, employment creating projects and new jobs that will breathe new life back into our struggling island.”

Fitial, in an interview, said his recent trip to Washington, D.C. was aimed at getting his message across to the federal government “that we need help and we need help fast.”

“I’m referring to allowing Asian people to invest in the commonwealth as well as bring tourist to the commonwealth,” he said, referring to his letter to USCIS’ Mayorkas.

“So we need that to be fast-tracked and I’m very happy to report that the National Governors Association, the Western Governors Association and the Republican Governors Association, all are endorsing my request for expeditious action on those issues,” said Fitial, now in Guam for the Micronesian Chief Executives Summit.