An EB-5 economist, Scott Barnhart, PhD, writes an open letter to USCIS following issues discussed in the June 4, 2015 stakeholder call, specifically addressing allowable project construction and pro-forma income budget items for EB-5 economic job creation modeling....
About Scott Barnhart
As president of Barnhart Economic Services, LLC, Scott Barnhart oversees a consulting firm specializing in EB-5 business plan writing, TEA designations and EB-5 economic job creation studies, along with litigation support services. In support of 1-924 regional center applications and RFE responses for multiple regional centers, Barnhart has used IMPLAN and RIMS II to produce reports on the economic impact of job creation, resulting in over 150 TEA and job creation reports submitted to the United States Citizenship and Immigration Services. These reports were created for projects which include a $1.3 billion deep water cargo port off Louisiana’s coast, $200-$500 million office buildings and destination hotels, and $10-$15 million assisted living facilities and hotels.
In addition to his work in the EB-5 program, Barnhart has also consulted on various legal cases which include Fair Labor Standards Act stock violations, ownership and valuation disputes, wrongful birth and death, and personal injury. Barnhart graduated from Texas A&M University with his doctorate in economics/econometrics. He teaches corporate finance, financial institutions and investments as an associate professor at Florida Atlantic University, where he also serves as director of the Certified Financial Planner program. Barnhart frequently speaks on the national EB-5 circuit, and has discussed EB-5 job creation and RFE issues in seminars across the United States.
Barnhart also conducts research which is focused on futures markets, mutual funds, exchange rates, corporate governance and econometrics application in testing financial theories. Barnhart's research has been featured in publications such as Harvard University’s Review of Economics and Statistics, the Journal of Banking and Finance, the Journal of Financial and Quantitative Analysis, the Journal of Empirical Finance, Financial Review, the Journal of Futures Markets, and the Journal of International Money and Finance, along with other economics and finance journals. Additionally, Barnhart's article, "The Economic Impact of Individual Immigrant Investors in the EB-5 Program: A Case Study", which examines the financial value additions of the EB-5 program, was featured in the Fall 2013 edition of EB5 Investors Magazine.
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EB5 Investors Magazine and EB5investors.com Articles
Scott Barnhart and Cora Barnhart discuss the real economic impact of an individual immigrant investor's $500,000 EB-5 investment in a hypothetical hotel project in Los Angeles, and extend their findings to the entire EB-5 program....