# Professor Jeanne Calderon and Scholar-in-Residence Gary Friedland's joint research on EB-5's impact on foreign investment is featured

1 Faculty News November 15, 2016 ![The New York Times Logo](/sites/default/files/styles/246w/public/assets/images/uat_027320.jpg?itok=W8xBr66g)>

Excerpt from [The New York Times](http://www.nytimes.com/2016/11/15/business/dealbook/us-foreign-investor-program-funding-more-luxury-projects.html?_r=0) -- "The program was intended to reward people for putting money into the United States. Projects that raised more than $1 billion were practically nonexistent in the program before 2010, Prof. [Jeanne Calderon](http://www.stern.nyu.edu/faculty/bio/jeanne-calderon) of New York University’s Stern School of Business wrote in a March report on the program. But when banks turned off the credit spigot around the 2008 financial crisis, developers started getting more creative in finding alternative financing."

[Read more](http://www.nytimes.com/2016/11/15/business/dealbook/us-foreign-investor-program-funding-more-luxury-projects.html?_r=0)