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Controversy for EB-5 regional center in Washington state

September 15, 2010 @ 10:11 pm
Posted by Exclusive Visas

Controversy for EB-5 regional center in Washington stateA Washington state port is in the middle of controversy surrounding the EB-5 visa program.

Washington Tire had plans to build a plant in Grant County but the Port of Ephrata, is currently waiting on a legal opinion from its attorney regarding the proposed facility, according to the Columbia Basin Herald.

Washington Tire is currently in a conflict with the Aero Space Port International (ASPI) Group, an EB-5 regional center.

The ASPI Group sought a court injunction to prevent Washington Tire from claiming it was also a regional center. According to the news source, the tire company made claims on a website that it was an EB-5 regional center.

Additionally, court documents filed by the ASPI Group indicate that Washington Tire claimed it would guarantee investment returns. The ASPI Group said that the tire company’s claim damaged its EB-5 regional center because prospective investors asked why the did not guarantee its investments.

The EB-5 visa program allows foreign investors to become green card eligible if they invest $1 million (or in certain areas $500,000) in an American business and that investment leads to the creation or preservation of the 10 jobs.

The ASPI Group is the only EB-5 regional center approved for Grand County, according to the U.S. Citizenship and Immigration Service.

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