The American Institute of Architects (AIA) recently sent a letter to Securities & Exchange Commission Chairman Elisse Walter urging the agency to issue regulations for equity-based “crowdfunding”– the practice of investing in projects through the use of a crowd-supported web based fundraising campaign. According to a statement from the AIA, its members believe the financing tool would create jobs and maintain the current economic recovery.
“With the economic recovery still tenuous, any financial instrument that can help create jobs through new products, innovations and designs must be a top priority,” the letter states.
The letter was issued days before the sequestration–the automatic across-the-board spending cuts—took effect. The letter also expresses concern about sequestration and its impact on the economy.
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