The EB-5 Regional Center Program should stay expired as a better alternative already exists

The EB-5 Regional Center Program has expired. The program may be brought back to life — but the American economy will be better served if it isn’t.Yes, the Regional Center Program has helped stimulate commercial real estate development in the U.S. and had some economic benefits, but it never lived up to its mandate of creating permanent jobs and stimulating areas in need.And the program has been in the news over the years for all the wrong reasons including fraud, failed projects, improper supervision, abusing Target Employment Area regulations, and improper transaction-based compensation payments.The program should stay expired for one simple reason: A far more capable replacement program already exists.Since the summer of 2021, the original and permanent “direct” EB-5 program has been operating efficiently, and quietly fulfilling the mandate of the EB-5 program.