CanAm Enterprises (“CanAm”) is pleased to announce that USCIS has approved our first Form I-526E, approximately 13 months after it was filed. It is CanAm’s first such approval based on an investment in a project located in a “high unemployment area” under the EB-5 Reform and Integrity Act of 2022 (the “RIA”). The I-526E approval was for an investment in the Jefferson Energy Project II, a $28 million loan to fund the further expansion of the facility to support nearby refinery businesses in the Port of Beaumont region of Texas. The Form I-956F petition for the Jefferson Energy Project II was approved on June 21, 2023, among the first projects approved after the passage of the RIA.
“Since USCIS approved the Form I-956F for the Jefferson Energy Project II, we have been eagerly awaiting approval of the first related I-526E petition. We are thrilled to have received USCIS’s prompt approval of the Form I-526E, ” remarked Walter S. Gindin, General Counsel at CanAm Enterprises. “It demonstrates that USCIS is earnestly in the process of implementing the goals of the RIA. We extend our hearty congratulations to the investor for achieving this significant milestone. This achievement further underscores CanAm’s longstanding history of successful EB-5 investments and our unwavering commitment to providing immigrant investor families with top-quality projects,” Gindin added.