5 MINUTES WITH JERRY DAVIS

Vice Mayor Pro-Tem Jerry V. Davis has been an advocate for his community in Houston since graduating from Washington College in 1995. Serving as Council Member, he has been instrumental in enhancing the way that Council Members are able to serve their districts; he was an original co-sponsor of a budget amendment creating the Council District Service Fund (CDSF) which allows Council Members to fund small projects in their districts that focus on creating safer, more inviting communities. In this interview, he throws more light on the United States EB-5 visa program and his relationship with HoustonEb5, DC Partners and the much talked about Allen project. Tell me about the Eb5 visa program?

The United States EB-5 visa, employment-based fifth preference category or EB-5 Immigrant Investor Visa Program, created in 1990 by the Immigration Act of 1990, provides a method for eligible Immigrant Investors to become lawful permanent residents informally known as “green card” holders - by investing at least $500,000 or $900,000 after November 21, 2019 to finance a business in the United States that will employ at least 10 American workers. Most immigrant investors who use the EB-5 program invest in a targeted employment area (TEA) - a rural area or area with high unemployment - which lowers the investment threshold to $500,000 or $900,000 after November 21, 2019. The EB-5 program is intended to encourage both “foreign investments and economic growth. How long does the process take?

Usually, the whole process takes about one to one and half years for an EB-5 applicant to get a conditional green card. It takes about six months to receive approval for an I-526 petition. Asides the obvious - becoming a permanent resident in the United States, what else do potential Nigerian investors stand to gain?

There are loads of benefits. First of, it is one of the fastest methods to gain permanent residency in the United States for the investor, his/her spouse, and unmarried children under 21 years of age.

It also gives you the freedom to live and work anywhere in the U.S., without restriction including states such as Florida or Texas with no state income tax. There are also educational benefits such as access to public elementary, middle, and high-school schools and lower cost in-state tuition at public colleges and universities with no visa sponsor requirements.

There is no H-1B work visa needed for employment. The benefits are endless.

In the event of a political change/significant event in the investor’s home country, he/she and family can immediately gain entry to the U.S. without delay.

An EB-5 Visa provides the same Green Card as other qualifying processes, allowing the investor and his or her immediate family to live, study, work, and retire anywhere in the United States. The EB-5 program helps foreigners obtain a coveted piece of American life while stimulating the US economy through job creation. Let’s talk about the HoustonEb5 and DC Partner, how long has the city of Houston partnered with these two organisations?

This is my eighth year in office, and we have been working with the two organizations on the ‘Allen’ for about four to five years now. Asides from The Allen, has there been other partnerships?

This is the first project. They have done more developments in the city of Houston and we are very aware of their organization and what they do. They have done a few different successful projects in Houston and they have another in San Antonio. And so, we have a good frame of reference of what they can do and that’s one of the reasons we are very in support of this project ‘the Allen’. You stated that this project is keenly supported by the city?

They have done two independent projects in the city of Houston without our support and so we knew that this is a company that is genuine about what they were doing. We have seen their history and now they are back for a third time and we felt that it was our duty to support this company and make sure they get everything they need. It’s a symbiotic relationship. Do you see this support extending to future Houston EB5 & DC Partner projects? Once they build it, there are taxes that are due to the city. But the city don’t necessarily have to have all the taxes, so the EB5 & DC company continue to reinvest in the project. This project on Allen parkway is not like any other. Once other companies see what they are doing, it will certainly attract more businesses and companies. The City of Houston attracts more Africans EB5 investors than any other city in America. Why is this?

First of all, we are the fourth largest city in America and soon to be the third and we are rising. We are different from Los Angeles and California. We are 640 square miles long! Because of this, we do not lack space and the cost of living is not that expensive. We are the oil and gas capital of the world and people come to Houston to do business. Our Texas Medical Centre is the best in the world with a huge patronage.

We have two international airports and we are welcoming businesses because we directs flights from Africa, South America or wherever, into the city of Houston at one of our airports. So, if you want to build a headquarters here, come on board and you would be with other top companies in the world here in the city of Houston. We have large spaces. You can find a big nice house to raise a family for about $225,000- $300,000 What will you say Nigerian investors looking to invest in The Allen?

If you are an investor and you have a city like ours who is also an investor as well. We are giving up the people’s hard-earned tax dollar to put back into the project. I have been to China and other places with this company to bring in more investment to this project.

There are other businesses in this area and if you want to participate in the EB5 program, we are welcoming more corporations, companies and more individuals to move here to Houston and we have everything there is to offer.

Our cost of living isn’t high, we have the best medical Centre, oil and gas and we are also a city for entrepreneurs. We have one of the largest ports in the country and a good train network.

We are in business and we are a nice kept secret and also we have one of the largest Nigerian populations in America, we are very inclusive and one of the most diverse city in America.