October 31, 2014

International Trade - EB-5 Funding

To EB or Not to EB

A federal program that gives immigrants permanent residency in exchange for development funding is being hampered by bureaucratic delays.

Amy Keller | 12/5/2012

Florida Regional Center Update

In 2009, Florida was home to four EB-5 regional centers, a kind of geographic franchise designated by the U.S. Customs and Immigration Service for collecting foreign investment and funneling it into job-creating businesses. Today, there are about 20. Here’s an update on the four Florida Trend wrote about in 2009:

» Under the new ownership of Kirk Eicholtz, a Tampa area real estate developer and attorney, the Florida Equity & Growth Fund Regional Center is focusing on acquiring financially distressed hotels and turning them around and establishing assisted living facilities throughout the 23-county region known as the Florida High-Tech Corridor.

» The South Florida Investment Regional Center is seeking foreign investment for Steel HQ USA, a subsidiary of the Hong Kong-based Steel HQ Group, which is seeking to expand its operations into the United States. The company fabricates steel-framed structures for homes, commercial buildings, apartments and warehouses.

» The Lake Buena Vista Regional Center has run into “bureaucratic” roadblocks while trying to expand its condo-hotel resort near Kissimmee with EB-5 funds but recently resurrected a “vacation club” program that aims to raise funds from 30 foreign investors.

» Now operating in a nine-county region, the Palm Beach Regional Center/Palm Beach Investments & Finance has found a niche in the restaurant industry and is working with two franchise restaurant chains, Sonic and VooDoo BBQ & Grill, to develop locations in south Florida with EB-5 funds.

Tags: International Trade

Digital Access

DIRECT DIGITAL ACCESS
Add digital to your current subscription, purchase a single ditgital issue, or start a new subscription to Florida Trend.

TABLE OF CONTENTS
An overview of the features and articles in this month's issue of Florida Trend.

ACCESS THIS ISSUE »

Florida Business News

Florida Trend Video Pick

Colleges Are Tracking When Students Work Out at Rec Centers
Colleges Are Tracking When Students Work Out at Rec Centers

Officials on college campuses are turning to usage data and student feedback to shape fitness programs, hoping it will entice more students to develop healthy habits. 

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

Do you give - or get - an annual performance review?

  • Yes - and I hate it
  • Yes - and it's OK - there's some value in the exercise
  • Yes - and I find it very valuable
  • No (thank goodness)

See Results

Ballot Box
Subscribe