Vermont plans to launch second EB-5 regional center
Vermont Governor Jim Douglas recently confirmed plans with the South Korean biomedical company AnC Bio, to designate its subsidiary, AnC Bio VT as an official EB-5 regional center.
If approved, the company would begin lobbying foreign investors for capital to build a new facility in Orleans County, which they expect to create about 200 new biotech jobs, PharmaceuticalJobs.com reports.
The facility will manufacture portable dialysis machines, cell therapy machines, vaccines and other bio-medical supplies.
Douglas’ announcement came shortly after the co-owner of Jay Peak Resort, Bill Stenger, received EB-5 regional center status for his efforts to expand the resort and bring jobs to Vermont.
Stenger told the VermontBiz.com that Canadians and young business leaders looking to enroll their children in an American university have been the most eager investors.
The EB-5 visa program is an immigration investment initiative run by the U.S. Citizenship and Immigration Services, which sets aside 10,000 U.S. green cards each year for foreign nationals who invest at least $500,000 in an American business and create at least 10 new jobs.
Governor Douglas said in a statement, “Thanks to the EB-5 visa program,…we are bringing millions in new investment to Vermont businesses and hundreds of new jobs to our state at this critical time.”
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