The recipient of a juris doctor, Juan Carlos Benitez has had a long history in public service, focusing on immigration, economic development, and social educational programs. As president of Marianas EB-5 Regional Center, Juan Carlos Benitez assists foreign nationals in navigating the EB-5 Immigrant Investor Program.
The EB-5 program was established in 1990 to help grow the US economy with foreign capital. The program grants lawful permanent residence to immigrant investors who invest either $1 million in commercial projects anywhere in the country or $500,000 in a “targeted employment area,” and in the process create or preserve at least 10 US jobs. The program has had a significant impact on the US economy since its inception, as highlighted in a 2015 report by Bipartisanpolicy.org.
As of 2015, the program had brought in a minimum of $4.2 billion in foreign investment. These figures are conservative, however, as they were based only on total investors actually granted permanent residency. Including investors initially approved for conditional residency, total foreign investment was about $11.5 billion.
The report also revealed the program’s positive impact on GDP and tax revenues. In 2013 the program contributed $3.5 billion to the US GDP, creating over 41,000 jobs and generating over $805 million in tax revenues for federal and state governments.