MY DAY: THE EB-5 PROGRAM

By Dr. Ester Davis

The Barack Obama What is the EB-5 Program? How does it simulate our local economy? Is it good, bad or ugly for the residents? How does it create jobs for Americans and how much do we pay for the privilege? Are we a magnet for international financial bucks? What’s in it for Texans and the education of their children? Does our state’s track record and job growth directly depend on foreign investments?

Dallas and Fort Worth are attracting more and more investment friends, tours, trade missions and delegations. This past week the 2nd Annual U. S.-China Investment Week opened in Dallas. Presiding and guest of honor was our former president, governors, mayors and several hundred guests from around the globe. The EB-5 Program is expected to focus on Dallas, Fort Worth because the metroplex is growing, demonstrating commitment and vision to their agendas, not to mention land mass. What is the agenda you ask? It is the potential of Chinese investment in Texas. Around the United States, our foreign neighbors are continuing to invest, under the umbrella of stimulating local economies. I think that sums it up nicely.

For example, a welcomed upscale addition to Southern Dallas in more than fifty (50)years is NYLO, a glorious South Side Hotel next to South Side on Lamar. On the top floor, overlooking all of downtown Dallas and beyond is an amazing view after dark. As long as that empty building has been there no one had any idea of its stunning beauty after a little dressing up. The renovation of this 100 year old building into a luxury full service hotel is one of the investments made by the EB-5 program in a private public partnerships.

I find myself thinking how the people and their off springs, align their futures with the global leading role. I think about how fast growth, science, math, medicine and technology are moving without disciplines, preparation, a forethought or apology. No doubt about it, everyone delights in moving the economy, but how many are equipped to reap the benefits?

Ester Davis is the MC for the Annual Women’s Council Scholarship Breakfast, Saturday, November 19th.