Vermont governor leaves on EB-5 trip to Asia
Vermont Governor Jim Douglas recently left on his trip to Asia to try to drum up interest in the EB-5 investment opportunities in the Green Mountain State.
According to WCAX, Douglas' two-week trip will include stops in Tokyo, Hong Kong, Beijing, Shanghai, and Ho Chi Min City, Vietnam.
The EB-5 visa program was established in 1990 to help American businesses attract foreign capital. If a foreign national invests $1 million (or in certain areas, $500,000) in an American business and that investment leads to the creation or preservation of 10 jobs, the investor becomes eligible for a U.S. green card.
Many EB-5 investments are handled through EB-5 regional centers. According to the U.S. Citizenship and Immigration Service (USCIS), these centers can be "any economic unit, public or private, which is involved with the promotion of economic growth, improved regional productivity, job creation, and increased domestic capital investment."
Douglas has said that foreign nationals have invested $100 million in Vermont, which has helped lead to the creation of more than 2,000 jobs.