NEW YORK, Feb. 16, 2016 /PRNewswire/ — E3 Investment Group is proud to announce that Chief Executive Officer Matt Gordon appeared before the United States House of Representatives Judiciary Committee as an expert witness at the committee’s February 11, 2016 hearing on the EB-5 program. The hearing examined the issues and causes that have prevented the EB-5 program from maximizing its creation of social value for America. According to Mr. Gordon, “It was a great honor to be called by Chairman Goodlatte before the committee and have the opportunity to help shape the policy debate.” Mr. Gordon’s appearance before the committee continues his involvement in the public policy arena having made in presentation in front of senior legislative staff of the Senate Immigration Sub-Committee this past November.
Mr. Gordon continued, “It is very clear that the EB-5 program has not lived up to its potential. The poor regulation of targeted employment areas, in particular the accepted rampant practice of gerrymandering, has deprived truly distressed economic and rural areas from receiving their fair share of EB-5 investment capital.” The full webcast of the hearing can be seen at this link:
Mr. Gordon’s written testimony can be found at this link:
The other witnesses appearing with Mr. Gordon at the hearing were: Mr. Nicholas Colucci, Chief, Immigration Investor Program U.S. Citizenship and Immigration Services; Ms. Rebecca Gambler, Director, Homeland Security and Justice Issues; and Ms. Jeanne Calderon, Clinical Associate Professor, Stern School of Business, New York University.
In his testimony, Mr. Gordon cited the Initiative for a Competitive Inner City’s (ICIC.org) work on how EB-5 capital can be used in distressed urban areas. According to Kim Zeuli, Ph.D., Senior Vice President and Director of Research at ICIC, “Mr. Gordon presented important testimony on how those in the EB-5 community and investors can be better motivated to apply EB-5 capital to distressed communities in America. There are a great many American cities that would benefit greatly from foreign direct investment into their communities.”
Mr. Gordon also testified about his involvement with the More American Jobs Alliance, or MAJA. According to MAJA founding member Shae Armstrong of CP Homes in Dallas, Texas, “We created MAJA to help refocus the EB-5 program on the creation of actual jobs in rural and distressed areas. E3 Investment Group, through its E3 Cargo trucking company, is leading by example. E3 Cargo is headquartered in Indianapolis, Indiana, and is now in Southaven, Mississippi. All E3 Cargo locations are in single census tract targeted employment areas, helping bring investment capital to these areas in need and fulfilling the true policy intent behind the EB-5 program. We are proud of Mr. Gordon’s important testimony and proud to have him as a founding member of MAJA.”
According to Mr. Gordon, “MAJA has been singularly instrumental in helping set the policy agenda with respect to desperately needed reforms to the EB-5 program. MAJA represents all those in the EB-5 community, including regional centers, direct sponsors, investors and the communities into which they invest, who believe in the policy ideals of the program. I look forward our efforts in the coming months to help enact EB-5 reform legislation.”