Addressing Nevada Workforce Shortages – Tapping into Foreign Talent

On July 27th, 2017, Lynn Beteag, Managing Director, of Nevada State EB-5 Regional Center was a guest speaker to the Reno/Sparks Association of REALTORS. The topic of Beteag’s presentation “The EB-5 Program – Access to Capital through Foreign Investment” explored how local businesses benefit from foreign investment and foreign workforce talent.

Based on the immense economic growth of commercial and industrial businesses relocating into the area, job growth continues to climb in Northern Nevada. The housing market is also heavily impacted due to the sheer volume of families moving into the area. Many of these families are foreigners working for U.S. companies and have their H-1B visas (a limited work visa) but are wanting to obtain their permanent U.S. Citizenship.

H1-B Visas vs EB-5 Program for Permanent Citizenship

To obtain a H1-B visa, foreign talent with advanced degrees in the fields of science, technology, engineering or mathematics (STEM) from a U.S. institution of higher education must be employed by a U.S. company and work in the U.S.

In January 2017, Congress passed the H-1B and L-1 Visa Reform Act of 2017, which made it more difficult for these highly skilled immigrants to stay in the U.S.

The revised bill has many obstacles for immigrants to consider including:

• An allocation system with priority given to talent with advanced STEM degrees.
• Labor application fee.
• Authorized admission for the H1-B nonimmigrant is reduced from six to three years with a three-year extension for advanced degrees or extraordinary ability.
• A national limit of 65,000 visas annually for advanced degrees and 20,000 for master’s degree or above.
• Prospective employees must have completed all degree requirements as of the date of filing of the H1-B petitions.
U.S. Citizenship and Immigration Services (USCIS) expects to have reach the cap numbers for both categories within 2 days of opening the filing period.
• Most importantly, the H1-B visa program does NOT provide permanent U.S. citizenship.

Due to changes and limitations of the H-1B visa program, many of these highly educated foreigners working for companies located in the U.S. are interested in the EB-5 Program in order to obtain not only their green card, but ultimately permanent U.S. Citizenship.

Based on the more restrictive conditions and timelines of the Visa Reform Act, there has been a much stronger interest by local employed immigrants in the EB-5 Program. Inquiries to the Nevada State EB-5 Regional Center (NVEB-5) in Carson City have increased dramatically over the last few months.

This uptick is in part due to the benefits and structure of the EB-5 Program. The EB-5 Program was created by Congress in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. The program has been widely utilized as an economic development tool, and since the 2008 economic crisis, over $18.4 billion of foreign direct investment has been injected into the U.S. economy.

Additionally, the main benefits of EB-5 Program to foreign investors include:

• Allows for acquisition of a green card.
• No sponsorship from employer needed.
• No salary caps for immigrants.
• Eligibility to become a permanent U.S. citizen.

In Ms. Beteag’s presentation to the Reno/Sparks REALTORS, she explored how NVEB-5 can assist H-1B and L-1 visa holders that are moving to Northern Nevada. For participants who are near the end of authorized timelines, there is the option of utilizing the EB-5 Program for permanent citizenship and continue living in the U.S. without interruption. (Please see NVEB-5 Sponsored Project Update.)

Lynn Beteag gave REALTORS valuable information for assisting their clients and local businesses, and stated, “The EB-5 Program is an effective tool for assisting local companies to acquire capital and helping immigrants who are legally filling Nevada’s workforce shortages acquire their U.S. Citizenship.”

For more information visit: NVEB5.org or call: 855.498.6360.

About The Nevada State EB-5 Regional Center

The professionals at the Nevada State EB-5 Regional Center (NVEB-5) work to bring together exceptional business ventures, both new and expanding, and foreign capital investors. Through a stringent application and investment process, foreign investors can become fully qualified to obtain a U.S. Green Card for legal immigration into the United States. Unlike traditional EB-5 Regional Centers, NVEB-5 is a unique blend of a non-profit and an approved U.S. Citizenship and Immigration Services (USCIS) organization. NVEB-5 is located in the State Capital in beautiful Carson City, Nevada and works closely with the State of Nevada’s Northern Nevada Development Authority (NNDA) and the USCIS. The NVEB-5 board of directors are highly qualified and well-respected business managers, governmental officials and community leaders who provide sound solutions for businesses and viable opportunities for foreign investors.

For more information on how to become a project or foreign capital investor, please visit: NVEB5.org or call: 855-498-6360.

See the article at: CarsonValleyTimes 

Sponsored Project Update – July 2017

mmigrant investors looking for an exceptional sponsored project – Look no further! – The Nevada State EB-5 Regional Center (NVEB-5) is sponsoring a unique mixed-use facility in Carson City, Nevada, just minutes from iconic Reno, Nevada, and the world-renowned and majestic Lake Tahoe.

Project completion is slated for late 2017, and several immigrant investor opportunities are still available

As of July, progress is as follows:

First Building*:
1. Roofing complete
2. Exterior windows and doors installed
3. Exterior siding and trim details near completion
4. Interior rough construction in progress
* Residential Building

Second Building**:
1. Foundation complete
2. Steel beam framework in progress
3. Third floor wood framing in progress
**Large secondary building will house the office and retail tenant spaces.

July 2 IMG_0377

July IMG_0378

July IMG_0382

 

July IMG_0386

If you are an immigrant investor interested in more information about this exceptional project, please contact NVEB-5.  NVEB-5 will provide you with information about participation in the EB-5 Immigrant Investor Program and help direct you to the project owner for more details about the NVEB-5 sponsored project.

Contact Us
Phone: 775-600-4090
Toll Free: 855-498-6360
E-Mail: admin@nveb5.org

About the Area 

About the Project

The three-story project is a mixed-use facility in Carson City, Nevada, just minutes from iconic Reno, Nevada, and the world-renowned and majestic Lake Tahoe.

Located in the heart of the historical downtown area, the project is currently under-construction, and will be graced by handsome and historically-inspired architectural features. This includes items such as a rich exterior, combining complex dimensional building elevations, with luxurious design details that complement and embrace the style of Nevada’s capital city. Replete with rich woods, brilliant metals, brick and stone, the distinctive ambiance of the complex will shine brilliantly against the stunning backdrop of the Sierra Nevada. The resulting three structure development will include retail/commercial, professional office space, and high-end apartments with garages.

If you are an immigrant investor interested in more information about this exceptional project, please contact NVEB-5. NVEB-5 will provide you with information about participation in the EB-5 Immigrant Investor Program and help direct you to the project owner for more details about the NVEB-5 sponsored project.

2017 Nevada Economic Development Conference

NEDC_2017_FinalOut

The Nevada Economic Development Conference will be holding its 4th annual event at the University of Nevada, Las Vegas September 11 – 13, 2017. This is the first year the Conference has ventured to Southern Nevada but will focus on all aspects of economic development within the Silver State. The Conference works to gather experts who will focus on Nevada’s revitalizing economy and emergence as a player in the world economy.

The Conference is a multi-track format that has something for every aspect of business, industry and community leadership. Included are various Institutes exploring a variety of topics and on-site tours of area businesses, facilities and points of interest. The tracks will cover Agribusiness, Economic Development, Energy, Infrastructure/Transportation, Manufacturing, Tourism/Gaming and Work Force Development.

Additionally, guest speakers will present on topics such as technology, regional development, multigenerational workforce, cyber security and innovations and the impact of professional sports on regional development.

Guest speakers include:

Jim Carroll –Author
Brett Kelsey – McAfee
Len Jessup – University of Nevada, Las Vegas – President
Kim Lear – Inlay Insights
Kerry Bubolz – Vegas Golden Knights – President

The Conference is available to the general public and provides phenomenal opportunities to network and glean insight into business growth, relocating to Nevada and investing in area projects.
To register and for more information, visit: NVEDC.com

Sponsored Project Update – May 2017

The Nevada State EB-5 Regional Center (NVEB-5) sponsored unique mixed use project has seen significant progress the last two months. Updates include:
First Building:

1. Roofing complete
2. Exterior windows and doors installed
3. Pre-siding exterior vapor wrapping in progress
4. Interior rough construction in progress

Second Building*:

1. Foundation complete
2. Steel beam framework in progress
*Large secondary building will house the office and retail tenant spaces.

Building 1

Building 1

Building 1

Building 1

Building 2

Building 2

Building 2

Building 2

About the Project

The three-story project is a mixed-use facility in Carson City, Nevada, just minutes from iconic Reno, Nevada, and the world-renowned and majestic Lake Tahoe.

Located in the heart of the historical downtown area, the project is currently under-construction, and will be graced by handsome and historically-inspired architectural features. This includes items such as a rich exterior, combining complex dimensional building elevations, with luxurious design details that complement and embrace the style of Nevada’s capital city. Replete with rich woods, brilliant metals, brick and stone, the distinctive ambiance of the complex will shine brilliantly against the stunning backdrop of the Sierra Nevada. The resulting three structure development will include retail/commercial, professional office space, and high-end apartments with garages.

If you are an immigrant investor interested in more information about this exceptional project, please contact NVEB-5. NVEB-5 will provide you with information about participation in the EB-5 Immigrant Investor Program and help direct you to the project owner for more details about the NVEB-5 sponsored project.
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Contact Us

Phone: 775-600-4090

Toll Free: 855-498-6360

E-Mail: admin@nveb5.org

The 10th Annual IIUSA EB-5 Advocacy Conference

The 10th Annual IIUSA EB-5 Advocacy Conference was held April 26-28, 2017 in Washington D.C.. Attendees heard from industry experts, government officials, and other global thought leaders on the many legislative and regulatory issues facing the EB-5 Program. In attendance was Lynn Beteag, Managing Director of the Nevada State EB-5 Regional Center (NVEB-5) in Carson City. Beteag used the opportunity to not only stay abreast of proposed legislation reform, compliance topics and best practices, but also took time to meet with Nevada Congressman Mark Amodei’s Legislative Assistant, Kyle Thomas.Amodei Office

On her meeting with Thomas, Beteag stated, “We had a productive discussion on the future of the EB-5 Program. I am a proponent of the Program and feel it is an excellent and much needed economic development tool for Northern Nevada. Mr. Thomas was gracious to let me express my advocacy for developing long-term authorization of EB-5.”

The EB-5 program was created by Congress in 1990 to aid the U.S. economy by attracting investments from qualified foreign investors. In 1992, Congress enhanced the economic impact of the EB-5 program by permitting the designation of Regional Centers and allow EB-5 capital pooling from multiple foreign investors for investment in USCIS-approved economic development projects within a defined geographic region.*

Touted as a modern economic development tool that utilizes globalization to aid in alternative financing, EB-5 has helped facilitate US investments of over $18.5 billion since 2008. In 2013, Nevada was ranked 6th in states receiving the most EB-5 economic impact by IIUSA with a staggering $121 million in EB-5 capital investment and 2,028 jobs supported.**
The EB-5 Program continues to be a topic of much debate and received an interim extension last week through September 30, 2017. Since 1992, the EB-5 Program has been reauthorized 10 times. Currently, negotiations are in progress on a long-term reauthorization and reform package.

*Source: https://iiusa.org/eb5/
**Source: http://iiusa.org/eb5-economicimpactmap/

Why Reno – The Resurgence of Northern Nevada’s Economy

nnevada

The resurgence of Northern Nevada’s economy and new found growth spurt, has begged the question, “Where can one find relevant information on Reno, Sparks and the Lake Tahoe area?” In efforts to answer and fill an informational void, the Economic Development Authority of Western Nevada (EDAWN), Nevada Association of Employers (NAE), Northern Nevada Human Resources Association (NNHRA), and Reno Sparks Association of Realtors (RSAR) have banded together and created a new website. The site, WhyReno.org, was launched in early March 2017.

Companies and individuals alike whom are new to the area or considering relocating will find great information regarding the incredible quality of life experiences and exceptional job opportunities available. There is simply much more to the Northern Nevada area than downtown Reno and area ski resorts. In fact, the new and improved job market is thriving and housing opportunities are not only affordable but commuters enjoy short travel time and light traffic compared to California cities.

WhyReno.org is designed to be a toolkit and informational resource center where users can customize links and print content. The site incorporates media and marketing material from local contributors as well as the Reno-Sparks Convention and Visitors Authority (RSCVA), University of Nevada Reno, governmental agencies and many other area experts. Additionally, the site will house informational videos on the economy and images highlighting area beauty.

While the information is not entirely unique, the site will act as a one-stop location to access a large variety of information from a plethora of economic development, governmental and area websites. The best media from these multiple sources will be housed together for convenience purposes in efforts to assist companies, realtors and business leaders to spread the word about the many benefits Northern Nevada has to offer.

If you are looking to start or relocate your business in beautiful Northern Nevada, please contact the Nevada State EB-5 Regional Center (NVEB-5). NVEB-5 may be able to assist your business venture with additional capital through EB-5 Program participation.

Learn more about how companies or project developers seeking additional capital can grow their business or launch a new venture that creates US based jobs at: NVEB5.org.

Call: 1.885.498.6360
or
Email: Admin@NVEB5.org

 

Sponsored Project Update – March 2017

The Nevada State EB-5 Regional Center (NVEB-5) has sponsored a unique mixed use project which is currently under construction and novel to the area. Project completion is slated for late Fall of 2017 and great progress has been made despite unusually harsh winter weather conditions. Rough framing of the first building is nearing completion with roofing expected to be completed by the end of March. Foundation and steel beam framework has begun on the large secondary building which will house the office and retail tenant spaces.

Brief Project Overview:

2 IMG_0275 (2) c IMG_0273 IMG_0274

The three story Project is a mixed-use facility in Carson City, Nevada, just minutes from iconic Reno, Nevada, and the world-renowned and majestic Lake Tahoe.

Located in the heart of the historical downtown area, the project is currently under-construction, and will be graced by handsome and historically-inspired architectural features. This includes items such as a rich exterior, combining complex dimensional building elevations, with luxurious design details that complement and embrace the style of Nevada’s capital city. Replete with rich woods, brilliant metals, brick and stone, the distinctive ambiance of the complex will shine brilliantly against the stunning backdrop of the Sierra Nevada. The resulting three structure development will include retail/commercial, professional office space, and high-end apartments with garages.

As the efforts of the Carson City Public Works Department, to redevelop the downtown corridor with pedestrian friendly walkways and venues, have recently been completed, the Project will enjoy center stage from that city-driven focus on economic stimulation. This unique complex will be a destination that amplifies this new focus and encourages local commerce and tourism.

If you are an immigrant investor interested in more information about this exceptional project, please contact NVEB-5. NVEB-5 will provide you with information about participation in the EB-5 Immigrant Investor Program and help direct you to the project owner for more details about the NVEB-5 sponsored project.

Contact Us

Phone: 775-600-4090

Toll Free: 855-498-6360

E-Mail: admin@nveb5.org

Nevada #1 in Entrepreneurial Startups

Kauffman Foundation’s annual Startup Index has ranked the state of Nevada highest for Startup Density, at an amazing 107.4, amongst all 50 states. .This index is the gold standard for identifying and tracking startup density which is defined as the number of newly established employer businesses to the total employer business population (in 1,000s). Additionally, startup businesses are defined as firms less than 1yr. old, employing at least 1 person besides the owner.

Understanding the value of startups to the area, the Economic Development Authority of Western Nevada (EDAWN), investigates what aspects influence entrepreneurs in selecting the region for their start. Through monthly video, these topics are explored in the series Rethink Reno.

This month, Ryan Adams, President and CEO of Artech is interviewed.

The Silver State Goes for the Gold!

Northern Nevada continues to poise itself as a hub for business growth and entrepreneurship particularly in the areas of manufacturing and technology. Included in this boon are not only Tesla and Switch, but eBay, Immy and Koch Business Solutions to name a few. The many advantages and new incentives for doing business in the Northern Nevada area are driving the revitalized interest in the state. See Much Ado About the Silver State.
Some of the many businesses relocating to Northern Nevada include:

Jet
Zulily
Chewy.com
Dragon Fly Energy
Mary’s Gone Crackers®
PetCo
ITS Logistics
Ebay
Switch
Immay!
Koch Business Solutions
Tesla

In turn, as new businesses start up or relocate to the area, real estate demands increase as well. At their recent meeting and discussion panel, the Northern Nevada Development Authority (NNDA) explored this increased demand and need for local commercial development particularly in Carson City, Nevada. While the city has some vacancies, the options tend to be inadequate and obsolete in regards to structural limitations. High tech and modern commercial and industrial facilities are needed and one way to remedy the situation is to attract qualified investors to finance such projects.

Read the complete article in Northern Nevada Business Weekly.

Carson City needs more commercial development to meet demand and keep the economic recovery going, said a panel of industry insiders Wednesday, July 27.

“Building capacity to look to our future is probably the most important thing we’ve got going,” said Rob Hooper, executive director, Northern Nevada Development Authority, at the group’s monthly breakfast held at the Carson Nugget.

“We don’t mean the building is in bad condition. We mean that in today’s market manufacturers are looking for 24 to 36 foot clear heights. The buildings we have, it’s rare to find over 16,” said Brad Bonkowski, principal, NAI Alliance, and a Carson City supervisor.

 

Building a Stronger Nevada Economic Conference

Western Nevada Development District (WNDD) is a local non-profit organization which strives to promote and enhance collaboration towards the goal of the development of workforce and infrastructure for economic vitality. As part of their efforts, WNDD organizes an annual Nevada Economic Development Conference.

This year’s conference, Building a Stronger Nevada, will be held at the University of Nevada, Reno September 20 – 22, 2016. The conference works to gather experts who will reveal focus on Northern Nevada’s revitalizing economy and emergence as a player in the world economy.

The Conference is a multi-track format that has something for every aspect of business, industry and community leadership. Included are various Institutes exploring a variety of topics and on-site Tours of area businesses, facilities and points of interest. The Institutes will cover Agribusiness, Small Business/Entrepreneurship, Economic Development/Vitality, Energy, Infrastructure/Transportation, Manufacturing, and Work Force Development.

Additionally, guest speakers will present on topics such as sustainable transportation, regional development, urban growth and cyber security and innovations.

Guest Speakers include:
Diarmuid O’Connell –Tesla Energy in Nevada
Dr. Sam Cordes – Purdue University
Dr. Robert Lang” Megapolitan American
Brett Kelsey – Americas for Intel Security

The Conference provides phenomenal opportunities to network and glean insight into business growth, relocating to Northern Nevada and investing in area projects.

For more information, visit: WNDD.org