The Economic Forum held February 12, 2015 provided area real estate agents and community members with information about the future of international participation in our local economy. See full story from News 2 and video clip below.
They say you can already see how it’s paying off at the Tahoe-Reno Industrial Center. Tony Lyerly of the Reno Tahoe International Council told us, “There’s a lot of companies there that are global, and we’re hoping we can attract more people to come in.” And he’s sure northern Nevada has the goods to attract global investment. As he out it, “Basically right now, is our tax structure. You know that is very business friendly.”
And that’s why an event was held at the Atlantis today (Thursday) for the first time in Reno…participants see a lot of economic possibilities (money) from across the seas from investors bringing their money here. More from other countries would give another jolt to our economy. As the group’s director Jeni Temen told us, “It is important, so we started Reno-Tahoe International Council about a year and a half ago.”
Jeni knows…she spent her life in Europe before making her way to the U.S. almost 30 years ago. She knows others, bringing in outside money, can make a huge difference here. She started this organization to do just that: “I’d like to see more international people and their money here all the time, of course.”
For the foreign investor, there’s already a huge draw to do that. It’s called the EB-5 program. It awards a visa to foreigners who invest at least $500,000 in the U.S. The program’s local administrator Lynn Beteag told us, “For the foreign investor, they can obtain their green card. But the real benefit to our region is creating jobs.”
Beteag says it’s already paying off. She says expect to see more Chinese nationals and their money in the U.S. “There’s 10,000 visas that are allotted each year by the government, and China takes up about 8,000 of them a year.”