The South Florida Investment Regional Center recently announced that on June 2, 2011 USCIS approved a new large-scale development for South Florida.
Steel HQ, a global steel framing company that builds pre-engineered steel-framed buildings for everything from residential to industrial purposes, received approval for the project through the South Florida Regional Center.
The EB-5 funded development will be the first U.S facility for Steel HQ. And, with the 10,000 square foot facility expected to house a 40,000 square foot commercial building in the first year of development, this will be no small feat. In addition to 60 affordable homes, the company anticipates 400 full-time jobs will be created as a result of the project.
"We expect big things in the next two to three years and feel that the time is right to enter this market. The fact that we can fund a part of the project by bringing in foreign capital is doubly satisfying," says Founder and CEO of Steel HQ, Danny Gross.
The approval of this EB-5 project follows USCIS's decision to streamline the EB-5 application process. Reducing the processing time from four months to a speedy 15 days.
"It is gratifying to see the EB-5 program gain popularity, especially since it continues to bring foreign capital to valuable job-creating projects like this one, and others all across the country,"says Emilio Gonzalez, former director of USCIS.