A developer planning to turn a former factory in downtown Rockford into a hotel is trying to attract Chinese investors looking to get U.S. green cards to help cover the costs.
Gary Gorman plans to spend $67 million to turn the Amerock-Ziock building into an Embassy Suites hotel.
He told the Rockford Register Star that he and Mayor Larry Morrissey met the first of those investors at a presentation they made in Shanghai, China, last month.
Gorman said the woman agreed to invest $500,000. As part of the federal EB-5 immigration program she can get a green card because of the size of her investment.
Gorman hopes to attract 25 such investors.
Read more by clicking below image