Indiana company hopes to become an EB-5 regional center
An Indiana company is making an initiative to attract foreign businesses by using the EB-5 visa program.
The company hopes to become a regional center for the EB-5 program. Regional centers handle nearly 90 percent of the investments in the program.
Energize East Central Indiana has involved nine counties in its plan and wants to work with investors from Europe and China, according to the Ball State Daily News.
Roy Budd, the executive director of Energize East Central Indiana, says he first learned of the EB-5 program while traveling in China and thinks the regional center would attract investors in the fields of manufacturing, logistics, distribution and food processing.
The counties seem to be enthusiastic about the initiative. “I only see a plus side to it,” Terry Murphy, vice president of Economic Development in Delaware County, told the news source. “New businesses will bring construction jobs here as well. All the service industries will benefit.”
No businesses have been attracted yet but all parties involved acknowledged that these processes take time.
Foreigners who invest $1 million in American businesses and create 10 new jobs through that investment become eligible for a U.S. green card through the EB-5 visa program.