New York City EB-5 regional center promotes visa program in China
Representatives from the New York City Regional Center are in Beijing this week to promote the EB-5 visa program to potential Chinese investors, reports Abu Dhabi's The National.
The EB-5 visa program awards U.S. green card eligibility to foreign nationals whose investment of $1 million ($500,000 in certain regions) in an American company leads to the creation or preservation of 10 or more jobs.
The news source reports that officials from the NYCRC are seeking a cumulative $249 million dollar investment from nearly 500 separate individuals, hoping to put the money towards the Atlantic Yards in Brooklyn.
The proposed Atlantic Yards project would include a basketball stadium for the New Jersey Nets, new yards for the Long Island Railroad and tracts of housing. The project would constitute the city's largest construction outlay outside the rebuilding of Ground Zero.
To aid the recruitment effort, the NYCRC has played up the basketball element of the project. Several former basketball stars accompanied the tour, and the organization staged a game between the Nets and the Houston Rockets in Beijing. Yao Ming, China's biggest sports star, plays for Houston.