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Des Moines city council to hear about EB-5
The Des Moines, Iowa, city council is scheduled to hear about the EB-5 visa program at an upcoming meeting.
The Waterland Blog reports that Mayor Bob Sheckler said that he anticipates an "overwhelming" positive response when they hear about the program, which allows foreign nationals to become U.S. green card eligible if they invest $1 million (or in some areas $500,000) in an American business and 10 jobs are created or preserved as a result of that investment.
The city is considering forming an EB-5 regional center, which help direct and manage foreign investments under the program.
"It doesn't matter what [regional centers] are as long as they contribute to the economy," Marion Yoshina, the city’s economic development manager, told the news provider. "A city can apply for regional center designation, but usually it is the investor who makes that request."
Sheckler said that Des Moines would be a great place to start an EB-5 regional center.
"The tide is really turning," he told the news source. "This area is undervalued. Property is an incredible buy right now. We also offer incredible convenience to the airport and three major cities in the region."