eb5exclusive

The Florida Regional Center, developers of the Harbourside Jupiter project, recently gained full approval as an EB-5 regional center by the U.S. Citizenship and Immigration Service.

"Not only is this a major milestone for the Florida Regional Center and Harbourside Place, but it is a life raft for Palm Beach County and the Town of Jupiter: the economic stimulus this will bring to the area is a necessity. We have been promoting this project for months and we can now begin to file I-526 applications for interested foreign investors," said Nicholas A. Mastroianni II, Manager of the Florida Regional Center.

The approval will allow the Harbourside Jupiter project to continue to move forward. The project will include a four-star hotel, retail and office space, restaurants, a marina and an entertainment plaza that will feature an outdoor amphitheatre.

The EB-5 visa program gives foreign investors a chance to earn U.S. green cards. If a foreign national invests $1 million in an American business and that investment leads to the creation or preservation of 10 jobs, the investor becomes green card eligible.

EB-5 regional centers help direct and manage these investments. Some, like the Florida Regional Center, are located in Targeted Employment Areas and only require a $500,000 investment.

It is expected that the Harbourside Jupiter project will create 2,000 local jobs.