EB5 Investors Magazine English Edition Volume 6, Issue 2 | Page 74

TOP ECONOMISTS KIMBERLY ATTEBERRY VERMILION CONSULTING LLC | PRESIDENT Kimberly At teberr y is the president of Vermilion C o ns u l tin g L LC. Ve r milio n helps varied organizations leverage the benefits of the Immigrant Investor Program (EB-5). Vermilion Consulting provides expert advice on project feasibility, EB-5-compliant business plans, job- creation analysis and targeted employment area (TEA) analysis. Prior to Vermilion, Atteberr y was the chief economist of U.S. Citizenship and Immigration Services. In 2000 and 2002, she taught economics and marketing at the United States Air Force Academy as one of a select group of civilian instructors. WHY DID YOU GET INVOLVED IN THE EB-5 INDUSTRY? In 2009, I was hired by USCIS as the agency’s first economist. After a short time there, I was asked to launch and lead a new division within USCIS focused on economic and statistical analysis. While my duties ranged from procurement oversight to regulatory analysis to special projects for leadership, my most interesting task was to train and advise EB-5 adjudicators on economic impact studies, business plan review and unemployment analysis. Once I left government employment, it made sense to incorporate EB-5 work into my overall consulting practice. WHAT NEW TYPES OF PROJECTS AND TRENDS ARE YOU SEEING IN THE EB-5 INDUSTRY? Given recent uncertainties in our industry, I have seen a shift toward pursuing rural projects and obtaining approval for regional centers that include extensive rural areas. More importantly, since the SEC has started to enforce securities laws within the EB-5 industry, and USCIS has begun to terminate unlawful and unproductive regional centers, it seems the industry is shedding many entities that probably should not have been in EB-5 in the first place. As a result, project quality has improved significantly as well-educated professionals enter the industry. JEFFREY CARR ECONOMIC POLICY RESOURCES | PRESIDENT Jeffrey Carr is president of EPR, with more than 35 years of experience as an economist. Carr has completed more than 250 EB-5 assignments in 47 states and territories, including impact studies and business plans for investor petition filings, TEAs and regional center business-operations plans. He has lectured on EB-5 throughout the U.S. and China. Carr also has extensive experience in applied economics, including economic tax revenue forecasting; economic, regional economic and fiscal impact analyses; and presenting state economic fiscal data to Wall Street bond rating agencies. Carr formerly worked in the U.S. Congress for a member from Michigan. WHY DID YOU GET INVOLVED IN THE EB-5 INDUSTRY? EPR had been in the business of completing economic impact studies for more than 20 years when the state of Vermont first contacted us in 1997 about assisting with a regional 74 EB5 INVESTORS M AGAZINE center application. EB-5 impact assessment studies and our expert witness experience in legal cases were a logical extension of our core competencies for success in EB-5. The more we got involved in the EB-5 industry, the more excited we became about helping immigrant workers and their families throughout the country. We continue to bring that same level of excitement to all of our EB-5 projects today. WHAT NEW TYPES OF PROJECTS AND TRENDS ARE YOU SEEING IN THE EB-5 INDUSTRY? Like everyone, we remain hopeful that a consensus on a workable set of EB-5 reforms can be reached to potentially be a path to a reasonable number of additional visas for the program. Until that occurs, it seems unlikely that activity within the EB-5 industry will be able to recover to a level to make the program a solid contributor to U.S. job growth. Key points of reform discussion are going to continue to revolve around the minimum investment amount, how to fairly define TEAs, the adoption of regional center integrity measures, and additional safeguards to assure national security.