New York lawmaker applies for EB-5 regional center status to develop ski area
A New York State legislator has proposed establishing an EB-5 regional center in his district to support a large-scale ski resort in the area in an attempt to draw in tourism.
The Saranac Lake Democrat, Tim Burpoe, who represents the upstate towns of Harrietstown and Franklin, says he has put the EB-5 investment opportunity on his list of priorities for 2010, the Adirondack Daily Enterprise reports.
Burpoe told the news source that Franklin County has already applied for the designation, and he expects to receive a response from the U.S. Citizenship and Immigration Services (USCIS) by the second quarter of the year.
The Adirondack Club and Resort project, a squad of upstate New York developers, have been targeting the Big Tupper Ski Area in Tupper Lake, as an ideal way to promote tourism in the area – but the team needs investors, says the news source.
The national EB-5 visa program would issue green cards to selected investors who are willing to spend at least $1 million in a U.S. business, provided their investment creates at least 10 jobs in the area.
Investors also have the option of endowing $500,000 to a business in areas of high unemployment.