Everywhere you look, new EB-5 regional centers are opening their doors to immigrant investors. Here's a run-down of some of the most recent ones to hit the scene.
The first regional center to make headlines in recent weeks is the USA Now Regional Center, LLC. The Monitor reports that McAllen, Texas received approval for an EB-5 regional center on September 27. During a time when securing capital is very difficult for many developers, USA Now will help business owners in Hidalgo County obtain the capital they need, say the center operators.
?One of the biggest issues we continue to be faced with is the lack of funding for projects,? said Keith Patridge, president and CEO of the McAllen Economic Development Corp., in comments to the Monitor.
Also in the news, the Concord Monitor reports that Ragged Mountain Resort in Danbury, New Hampshire received approval for EB5 visa funding through New Hampshire EB-5 Regional Center, LLC. The regional center is the first of its kind in the state of New Hampshire. According to the Monitor, the resort expects to raise $35 million through the EB-5 program as well as create approximately 700 jobs.
And it's a ski resort. Any surprises there?
?The nature of the real estate, the nature of the resort, the overall asset as a whole is very appealing for foreign investors,? said David Strong, chief operating officer of developer Pacific Group.
In similar news, the Herald Bulletin reports that a new regional center in Indiana is set to create hundreds of jobs throughout Madison County. Energize ECI EB-5 Visa Regional Center, LLC has drawn a significant amount of interest from businesses wanting to move to the area ever since the regional center opened for business.
?They are interested mainly in Madison County because of our proximity to Indianapolis and definitely because of our EB-5 designation,? Anderson Economic Development Director Linda Dawson told the Herald Bulletin.
Last but not least, First Tracks Online Ski Magazine recently announced the approval of Maine?s first regional Center, USA Lifestyles Regional Center. According to the publication, USA Lifestyles Inc. will deal with new commercial enterprises including ski lodges and resorts, testing laboratories, wood manufacturing, and restaurants in Greater Franklin County. Among the first to participate in the EB-5 program is Saddleback Maine, a ski resort in the northwestern part of the state.
?This is a great opportunity being seized. We have a group in Franklin County being the first to bring this new economic development tool to Maine, a tool for creating jobs in Maine for Maine people that doesn?t use taxpayer assistance,? said George Gervais, Commissioner of the Department of Economic and Community Development.
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