Situated on the outskirts of Sacramento is California’s largest master-planned community, McClellan Park. It has homes, offices, restaurants, a hotel, and even a two-mile long runway that serves jets. But 30 years ago, the location was a starkly different story. It was a recently shuttered Air Force base, which triggered the loss of 11,600 jobs. 

Fundamental to this remarkable transformation was a federal program that incentivizes investment – and stimulates job creation – throughout the United States. That program, the EB-5 Immigrant Investor Program, still exists today. And amid uncertainty across the economy and in the financial markets, Republicans and Democrats alike should come together to support the program’s expansion. (RELATED: STEPHEN MOORE: We Won’t Be Fooled Again, Fannie Mae)

EB-5 was created by Congress in 1990 to attract capital investment from foreign investors. It’s more than met that objective, with a track record of attracting billions of foreign direct investment and creating millions of new U.S. jobs – all at no cost to Americans taxpayers. The program actually helps reduce the federal deficit. 

In exchange for bringing capital to the United States (with the minimum amount of roughly $1 million and less if the investment is in a rural or high unemployment area) and creating jobs (at least 10), EB-5 investors can get one of the most prized commodities anywhere in the world: an American green........

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