Helping Northern Nevada’s Infrastructure Keep Pace with Growth!

With Northern Nevada’s economy recovery and anticipated population growth, comes the need to ensure that Nevada’s infrastructure can keep pace. The costs associated with maintaining current roads, bridges etc. and public services can be daunting. The Nevada State EB-5 (NVEB-5) Regional Center can provide the supplemental capital tools needed to help the state meet its infrastructure needs. While not an entirely new concept, the idea is not well known nor understood in the Northern Nevada area.

Lynn Beteag, Administrator of the NVEB-5, has issued a press release (see below) in hopes of educating the public and public entities of the opportunities available through the approved U.S. Citizenship and Immigration Services (USCIS) EB-5 Program.

Northern Nevada infrastructure must keep pace with the anticipated economic growth of the region. Quick action to stay ahead of the growth curve is imperative.

nveb5

FOR IMMEDIATE RELEASE

Contact: Josie Martel
775.220.7820 / Josie@eNVogueMarketing.com

The Nevada State EB-5—Good for Area Businesses, Good for Infrastructure

Area Infrastructure in Need of Upgrades to Support Northern Nevada Growth

(Carson City, Nev., October 8, 2015) –With the Northern Nevada economy prospering, companies growing and many companies looking to the area for relocation, infrastructure requires critical attention. While the state embraces the long awaited economic resurgence, it possess the question, “Where will funding come from to front the cost of infrastructure refurbishment and enhancement?” The Nevada State EB-5 Regional Center (NVEB-5), located in Carson City, can supplement the capital demands of new and improved infrastructure through a unique program which not only provides capital for the public projects but also creates US based jobs.

NVEB-5 is reaching out to local municipalities, and state and local governments in hopes of educating governmental agencies to the benefits of the EB-5 Program. NVEB-5 is an approved United States Citizenship and Immigration Services (USCIS) Regional Center dedicated to creating local jobs and building our local economy through foreign capital investment.

Since Nevada ranks, once again, as the second fastest growing populations states in the country, the need to improve the infrastructure required to support the influx of businesses and populations is critical. The NVEB-5 Regional Center is a multifaceted economic development instrument which can be used to meet the growing infrastructure requirements. While virtually any expanding business or new venture can access the program, the latest type of projects that can utilize the EB-5 Program include: roads, bridges, public transportation, technology centers, senior care facilities and hospitals.

“The Nevada State EB-5 Regional Center is a powerful tool not only for our area businesses but also for public projects. This program can provide additional capital required to meet the high costs of building new roads and schools, for example. As the local area attracts more and more businesses, we will have to start addressing the infrastructure required to support growth. NVEB-5 can help Nevada meet these demands,” said Lynn Beteag, Administrator for NVEB-5.

Located in Carson City, Nevada the NVEB-5 is a non-profit EB-5 Regional Center dedicated to creating local jobs and building our local economy by bringing new and expanding companies/projects together with foreign capital investors.
Public and private projects looking for supplemental capital are encouraged to contact NVEB-5 at: 775.600.4090 or 855.498.6360 or visit: NVEB5.org.

About The Nevada State EB-5 Regional Center (NVEB-5)

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 in CarsonNow.org.

US Chamber of Commerce in Support of EB-5 Program

Recently, the President and Chief Executive Officer of the US Chamber of Commerce, Thomas J. Donohue, wrote a compelling Op-Ed for The Hill in support of the EB-5 Program. EB-5 Insights website discussed Mr. Donohue’s article at length in a blog post on September 18th, 2015. See below.

NVEB-5 Administrator, Lynn Beteag agrees with many of Mr. Donohue’s points. In particular, she believes Northern Nevada municipalities should explore the benefits of utilizing the EB-5 Program in attracting capital investment for infrastructure projects such as: roads, bridges, etc. Beteag stated,”In addition to area infrastructure, year round resorts, charter schools and senior care facilities projects are good candidates for participation in the EB-5 program. Projects such as these, seeking supplemental capital, which are located in our service area, should consider the benefits of project participation.”

Projects located in Carson City, Douglas and Lyon counties, as well as the adjacent counties, are encouraged to contact the NVEB-5 for more information about the program.

The op-ed includes recognition that major organizations around the United States have rallied around the EB-5 program, and that have supported and championed its use, including the U.S. Chamber of Commerce and other industry groups.  These groups have also recognized that there is a need for reform of the program to prevent fraud and abuse, and as such, should be updated to include provisions for integrity, security, and oversight measures.

Mr. Donohue identifies a current concern surrounding the use of the EB-5 program in certain areas, and he does not believe that Congress should direct EB-5 investment into certain areas of the United States at the expense of other areas, since the program was designed to encompass all the areas in the United States that need job creation.  Because job creation is one of the purposes of the program, the way that jobs are counted are important, but should not be unreasonably limited or restricted.

Lastly, Mr. Donohue discusses the current backlog EB-5 petitions are receiving- to date, there are currently more than 13,000 EB-5 petitions pending approval, and if there are any changes to the program, these petitions should not be unfairly affected.  By applying any changes to these pending petitions would be to unfairly penalize and disrupt both current and potential projects. Read more.

Curated from U.S. Chamber of Commerce Pens Op-Ed in Support of the EB-5 Program | EB-5 Insights

 

 

The EB-5 Program: Something to Agree On

Access to various capital markets have the power to improve not only economic development but the quality of life for area residents. The EB-5 Program has been a powerful tool to new and existing ventures looking to expand. Communities across the US have experienced firsthand the benefits of the program and seen how the once underutilized program has developed in to a multifaceted economic development instrument. Through the EB-5 Program, billions of dollars have helped grow local economies.

Even in the ever changing political climate, both parties agree that greater investments in the US lead to more US based jobs that don’t add additional burden on the American taxpayer. This is the purpose of the EB-5 Program and something we can all agree on; however, the current program is set to sunset this month. The future of the program is in the hands of Congress…

Peter D. Joseph, Executive Director, IIUSA recently published an article discussing the future of the EB-5 Program.

The growth in the program has been exponential in the last few years and continues at an impressive clip. According to Invest in the USA’s (IIUSA) analysis, $1.815 billion in investment was generated in the first two quarters of FY2015 alone — a $400 million increase compared to the first two quarters of FY2014 and a $1.1 billion increase over the same period in FY2013. There are over 13,000 immigrant petitions waiting on approval by the U.S. Citizenship and Immigration Services (USCIS), representing more than $6.5 billion in potential incoming capital. Read more.

 

 

Are you looking for additional capital to fund your project?

Nevada State EB-5 Regional Center (NVEB-5) could be your answer!

NVEB-5 offers companies and project developer’s access to supplemental capital, which can be added to their project’s capital stack, through the EB-5 Immigrant Investor Program.

NVEB-5 is a United States Citizenship and Immigration Services (USCIS) approved EB-5 Program Regional Center located in Carson City, Nevada. NVEB-5 administrates USCIS compliance responsibilities and co-ordinates all communication between USCIS, the participating project and foreign investors. Simply, NVEB-5 is principally focused on growth of existing businesses and new business ventures through foreign capital investment. The benefits to qualifying projects are numerous such as supplemental project capital and flexible terms and loan structures.

Some of the project types that could benefit from EB-5 Program participation through NVEB-5 include:
• Shovel ready real estate developments or manufacturing projects
• Developers seeking: early capital contribution, construction, mezzanine financing
• Employee intensive enterprises
• Enterprises requiring capital to ramp up job creation
• Advantages for projects in rural and high unemployment areas (TEA)*
• Projects partner with NVEB-5 to improve economic impact (i.e. new job creation to improve local economy)
• Projects partner with local government for community impact (i.e. capital stack for convention center, stadium, community center, senior center)
• Local or State government partners with NVEB-5 for community impact (i.e. infrastructure development such as roads and bridges)

Industries successfully participating in the EB-5 Program are robustly varied. While no one segment has a clear advantage, there are a few industries with a tendency to excel in the program. Some of these industries are:
– Assisted Living Facilities
– Mining
– Private Education Facilities
– Medical Wellness Centers
– Retail/Mixed Use Projects
– Agriculture/Food Products Manufacturing
– Housing Development
– Infrastructure Development

If you are a company or project developer seeking additional capital, contact NVEB-5 to discuss an exceptional opportunity to grow your business or launch a new venture that creates US jobs.

Call: 1.885.498.6360
Or
Email: Admin@NVEB5.org

*TEA: Geographic area with a population greater than 20,000 with an unemployment rate of 150% of the national unemployment rate.

The 4th Annual California EB-5 Conference

The 4th Annual California EB-5 Conference in Los Angeles was held August 2nd thru 3rd, 2015 with some 500 in attendance. Hosted by EB5 Investors Magazine, the event gathered EB-5 stakeholders and attorneys for educational and networking opportunities. With the sunset of the EB-5 Program in September, attention was focused on the continued efforts of the House to reach a legislative solution to sustain and reform the EB-5 Program.

Keynote speaker, House Judiciary Chairman Bob Goodlatte (R-VA-6) emphasized his support for the program and provided updates to the proposed legislation. As House Judiciary Chairman, Congressman Goodlatte has legislative oversight of the EB-5 Program; the Congressman shared his account of the proceedings progress with attendees. Goodlatte stressed the need to reauthorize and reform the EB-5 program which contributes to the US economy through vital economic stimulus and job creation.

Lynn Beteag, Administrator of the Nevada State EB-5 Regional Center (NVEB-5) attended the conference to better understand the proposed reform. Changes within the EB-5 Program will be both beneficial and limiting for the future operations of all regional centers including NVEB-5, located in Carson City.

Beteag stated, “The EB-5 Investor Conference attracts the very best from the EB-5 industry. It is a great opportunity to discuss the latest market issues and trends as well as network with esteemed colleagues and other business professionals.”

Additionally, guest speaker former Governor of Pennsylvania, Edward G. Rendell gave a special address voicing his support of the EB-5 Program. A longtime advocate, Rendell was an especially ardent supporter of the use of the EB-5 program for the financing of the Pennsylvania Convention Center. Rendell has stressed that the EB-5 program is currently underutilized by individual states to assist in obtaining additional capital to finance infrastructure. Ms. Beteag commented, “The former Governor’s comments are particularly fitting for the growing Silver State. The NVEB-5 Regional Center could attract capital needed to grow and refurbish Nevada’s roads, bridges and highways.”

NNDA Joins Governor Sandoval on European Trade Mission

A select Delegation, including Northern Nevada Development Association (NNDA), will be joining Governor Brian Sandoval on the upcoming Trade Mission Tour to select parts of Europe. NNDA has issued the following press release highlighting the trip and benefits to the local Northern Nevada economy.

Click Here for full press release or visit: NNDA.org

 

 

 

 

Congressman Amodei Comments About the EB-5 Program

With the EB-5 Program set to expire in September of this year, Congressman Mark Amodei (R-Nevada) recognizes the tremendous economic benefit and opportunity that the EB-5 program (or immigrant investor category) has to our nation’s future. Amodei and Colorado Congressman, Jared Polis introduced legislation earlier this year to make the EB-5 Program permanent and allow for job creation though foreign capital investment. The bill titled American Entrepreneurship and Investment Act of 2015, would address Target Employment Areas, transparency and streamline the program’s processing times.

These changes within the EB-5 Program directly impact the future operation of the Nevada State EB-5 (NVEB-5), located in Carson City, which depends on the specifics of the bill’s architecture as well as its successful passage.

Lynn Beteag, Administrator for NVEB-5 had this to say about the proposed changes to the EB-5 Program, ”Our main concern is how the proposed changes to the EB-5 program will hinder or assist companies who are requiring additional capital to build or expand their businesses into Northern Nevada. Like other Regional Centers in the U.S. we are waiting for Congress to support legislation to improve and continue the EB-5 Program”.

Las Vegas Business Press recently published the following article highlighting Congressman Amodei’s comments on the issue.

The SLS hotel-casino is the largest local project to benefit from EB-5 financing, according to Michael Vannozzi. The SLS employs 2,700. (David Becker/Las Vegas Review-Journal)

The front entrance to the SLS hotel-casino is seen on Tuesday, June 23, 2015, in Las Vegas. According to an SEC filing, the hotel-casino lost $35.3 million in the first quarter of this year. (David Becker/Las Vegas Review-Journal)

 

Curated from Amodei leading push to update EB-5 policy | Las Vegas Business Press

 

Press Release: Scaale, Inc. Promoting NVEB-5 Opportunities for Foreign Investors

Scaale, Inc. and NVEB-5 Regional Center has issued a press release highlighting their efforts to promote the Sierra Region opportunities for Indian entrepreneurs and investors.  Scaale, Inc., the Northern Nevada Development Authority (NNDA) and NVEB-5 are working together to bring together local business ventures with foreign capital investors looking to take advantage of the EB-5 Program.

Click here to read the complete press release.

 

PR Scale page 1 PR Scaale page 2

 

 

Press Release-Capital Equity Available for New and Expanding Northern Nevada Companies

The Nevada State EB-5 Regional Center is offering Northern Nevada companies informational sessions on utilizing an equity model for their capital portfolio.

Click or read the complete press release below.Equity PR page one

 

Is Northern Nevada the next Tech Mega Center?

As the Northern Nevada region clears the carnage of the economic recession, it emerges stronger than ever. Once thought strictly as an entertainment capital, it is slowly blossoming into a technological power house.

With the recent start of construction on the Tesla Gigafactory, other new technology companies are exploring the economic and quality of life benefits Northern Nevada has to offer. In addition to the construction of the new Tesla battery manufacturing plant east of Reno, other recognized companies are exploring the region including: Apple, Dairy Farmers of America, Amazon and the Switch Data Center to name a few.

The recently announced Switch Data Center will provide cloud-based data backup for mega companies such as Ebay and Dreamworks. Currently, its only data center is located in Las Vegas and Switch looks to create a double redundancy system with the addition of the new Northern Nevada facility. Work has begun on the first phase of the $1Billion data center.

Technology based companies/project developers rely heavily on capital to launch new operations, relocate or expand. A powerful tool available to these companies/project developers is the EB-5 Program. As a certified USCIS EB-5 Program, the Nevada State EB-5 Regional Center facilitates local job creation through foreign capital investment into local, approved projects. If you are a Technology based company or supplier interested in joining the Northern Nevada Tech World and require capital, please contact NVEB-5 to discuss how we can assist you.

To learn more about the many benefits of becoming an approved EB-5 Program, contact The Nevada State EB-5 Regional Center at: 885.498.6360 or visit: NVEB5.org.

More Northern Nevada Technology In the News…

 

Curated from Work begins at $1B Switch data center east of Reno – My News 4 – KRNV, Reno, NV

 

Curated from Construction underway at Switch data center site near Reno