About US Territory EB5 Initiative
Our Vision To Reduce U.S. Territory Bond Debt
In 2022, the creative team presented the U.S. Territory EB5 - Economic Development Initiative to the U.S. Virgin Islands (USVI).
The meeting was arranged by Peter Chapman, RT Park, and our team (Friedman, Piercy, Jennings). David Bornn represented the USVI.
Original Concept 2022:
- Sell EB5 green cards to pay off Territory debt.
- Pay off the municipal bond debt, $ 3.0 billion.
- Pay off the GERS underfunded pension debt of $5.0 billion.
- Relocate 500 companies to St. Croix, $ 300.0 million in SPENDING via company relocations.
2022 USVI Government: David Bornn (Governor's attorney) felt the concept was too difficult and the Biden administration would not approve it. Basically, this is too big an idea, too much work, and no one cares about the pension or bond debt.
2025 Concept Validation: In March of 2025, President Trump implemented the GOLD CARD initiative to pay down the U.S. Federal debt, validating our original concept (U.S. Territory bond debt payoff via the sale of EB5 green cards). Mr. Trump simply approved the project via an E.O., bypassing Congress.
2025 Next Step: Building on President Trump's new program, we updated the concept and reintroduced the initiative to the USVI, Puerto Rico, Guam, American Samoa, and CNMI.
Thank you, Mr. Trump, Mr. Paulson, and Mr. Lutnick...GREAT IDEA!