eb5exclusive

It’s no secret that California’s unstable regulatory laws, floundering economy and high costs of production have caused the state to lose manufacturing jobs and business to low-cost foreign labor.

But some companies in the area have taken advantage of the state’s strong transportation connections with the rest of the country to bring in foreign money and business, the Los Angeles Times reports.

For example, the South Korean picture frame manufacturer, Nepco Industrial, opened plants in Fullerton and Chino, citing the prudence of setting up operations in a country with inexpensive access to major retailers, such as Target or Wal-Mart.

In addition, Riverside County recently opened two foreign trade zones, where companies don’t need to pay tariffs on imports, and passed a resolution to encourage business growth in the region through the EB-5 visa program.

The EB-5 investment opportunities seek to create 10 full-time jobs in an American business and draw at least $1 million from foreign nationals with the incentive of U.S. residency.

“We have a great geographic position and an international business-friendly environment,” said Tom Freeman, director of the Riverside County Economic Development Agency. “As tough as it is to do business in California sometimes, you can still be competitive.”