Syndic Management Statement on DHS Intention to Rescind the International Entrepreneurship Rule
Syndic Management Statement on the DHS Intention to Rescind the International Entrepreneurship Rule
Kalamazoo MI – Syndic Management President Colin Scott released the following statement on President Donald Trump’s administration to officially delay implementation of a policy that would allow foreign entrepreneurs to spend several years in the U.S. building their startups.
The International Entrepreneur Rule, scheduled to come into effect on July 17, has been delayed until March 14, 2018, according to a notice of the Department of Homeland Security (DHS) posted on the Federal Register’s website.
“Today’s announcement is extremely disappointing and, in no doubt, will cost job opportunities for American citizens. It demonstrates a fundamental misunderstanding of the important role immigrant entrepreneurs play in growing our economy. At a time when countries around the world are doing all they can to attract and retain talented foreign nationals the Trump Administration is signaling the exact opposite. Despite this setback, Syndic Management and its companies will continue to support our foriegn national community.
We are not alone is this fight. Earlier this month 80 groups submitted a letter to the White House urging them to keep the International Entrepreneurship Rule, arguing it would create more jobs for Americans. What the Trump administration fails to understand is entrepreneurs, whether here or abroad, will persue their venture. When we close our doors to foreign entrepreneurs they will open their companies elsewhere. They will create jobs for others and compete against U.S. companies.
To those unfortunately affected by this decision, we urge you to remain strong and not to lose faith. We recognize your contributions and we will continue to assist you in finding the companies who welcome you.”