December 4, 2021

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

 

Florida Business News

Florida Trend Video Pick

After working in tech in the Bay Area, Jared McGriff moved to Miami to make art
After working in tech in the Bay Area, Jared McGriff moved to Miami to make art

A mere five years after arriving in Miami as a complete unknown, Jared McGriff has his first solo show of impressionistic paintings of Black figures up at the NSU Art Museum Fort Lauderdale, timed for maximum art week exposure.

Earlier Videos | Viewpoints@FloridaTrend

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