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And I have actually been proud to fulfill them and proud to welcome them. Chairman Leahy. Additionally, as my last concern, in some of the testimony this morning there has been a tip that, of program, simply with all the numerous billions, trillions of bucks ready to spend, you should simply go somewhere else.


Stenger. I would certainly inform you that in this environment the capacity to raise funding for the important things we are doing would certainly have-- it is difficult to do so in a fashion that would certainly allow us as effectively and as swiftly create the important things we have done. You can obtain cash if you have obtained half down.


I might have obtained fifty percent of that if I had the $12 million in money to set up. Every person understands that, yes, banks have cash to loan as long as you have actually got fifty percent of it in your pocket before you request for the other fifty percent. That is not how business functions these days.

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Senator Grassley. Senator Grassley. I want to admit that we only have anecdotal information, however I would like to ask you to what degree you have to go or do go to make certain that the facilities make certain that the financial investments do not develop jobs for people here unlawfully.


Mr. Stenger. Legislator, I am a hands-on owner of a service, and I am on-property every day. We have actually worked with-- as I claimed, at the Optimal we had 550 construction workers on our project. The marching orders that I provided to my team is that we are to hire local companies in almost every instance to do every one of the construction.


They are comprised of 10, 15, 20, 30 employees. They are from our local regions. They are Vermonters. They are benefiting directly from the financial investment. So we are a hands-on center. I recognize the workers, I know their family members, and we have actually had the ability to employ-- via these last 3 years of awful economic turmoil, we have actually had the ability to employ nearly every construction worker in our area and the bordering areas.

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residents. They reside in the area. Their families exist. They are spent in the areas, and they are all united state workers. useful content Senator Grassley. You do not need to utilize e-verify, but I would such as to recognize whether or not you do. Mr. Stenger. We do. Senator Grassley. You do.


Thanks. Mr. North, along the same lines of the concern I asked him, has your study revealed examples other-- and I just offered one example, so I intend to admit that and be accountable concerning it-- of facilities working with undocumented individuals? Mr. North. That type of information is really tough to obtain from USCIS, and I should state that what we do find out about much of the interior aspects of that firm as much as this program is worried associates with instances in which the staff has actually said no to an application of some kind and after that the regional center or the individual entrepreneur has gone to the Administrative Appeals Office-- which is component of the company-- and there we obtain papers, we get a hearing officer informing us what is going on because specific case.




This is a poor application." So there is an amount of bad applications out there, yet just once that procedure obtains before an administrative regulation court do we see much in the way of information. Now, there was one case that you stated, and allow me just clarify on that a little.

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Mr - EB5 Regional Center Program. North. The milk farm had claimed 17 employees, and they obtained into it, and the court located that 16 of them were illegals.


Okay. I am going to ask separate inquiries of each of the 3 of you, however it manages this set concern. As I said in my opening declaration, I home am worried regarding the potential loophole that allows financiers to withdraw their financial investment in local facilities after receiving their environment-friendly card.


Mr. Divine. I would certainly say that many of the financiers, if you asked them what are their goals, they would say, "I want to get a copyright, and I desire to keep it.


If I put my money in a resort development-- Senator Grassley. Can I presume then that you are claiming that there does not need to be any type of changes made in that regard? Mr. Divine. I do click not believe so. Senator Grassley. Okay. Let me ask Mr. Stenger, is it typical for a capitalist in your experience to withdraw his/her investment right away after obtaining a permit? Mr.

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Senator, no. Our programs require that the capitalist be invested for a minimum of 5 years and be repaid only if business remains in a placement to do so at the end of that time. We have the benefit of the capital to develop the service, get it running, make it effective, guarantee that the jobs will be created and maintained, and after that just if the business is effective will there be a leave method for the investor.