Nevada State EB-5 Regional Center receives approval as non-profit EB-5 program–returns earnings to community.
CARSON CITY, Nev., Aug. 5, 2013 /PRNewswire/ — The Nevada State EB-5 Regional Center (NVeb5) received its certification from U.S. Citizenship and Immigration Services (USCIS) on July 15, 2013. NVeb5 is located in Carson City, Nevada and will focus on job creation through capital investment by foreign investors. Its first three projects are forecasted to bring in over $86 million in investment and will create over 3,000 jobs in the Sierra Region of Nevada. NVeb5 is a USCIS certified nonprofit EB-5 regional center whose mission is to create jobs for the Sierra Region of Nevada and to reinvest profits into the region in the form of business startup funding, career skill building and business development programs.
NVeb5 was created through a partnership between Northern Nevada Development Authority (NNDA) and Hop & Mae Adams Foundation (HMAF). They focused on developing a solution for one of the key challenges facing economic recovery and economic diversity—the ability to secure capital funding.
Rob Hooper, Executive Director of NNDA said, "The approval of NVeb5 is a big first step in bringing sustainable business opportunities and financial stimulus to the Sierra Region of Nevada. As a community-minded nonprofit EB-5 regional center, our program is dedicated to identifying opportunities, encouraging participation, creating jobs and securing the financial support needed to ensure the long term economic stability of our community. Additionally, as a nonprofit, there is no single winner; instead, the entire community will benefit as profits are returned to spawn more business startups, job creation and business development."
Regional Centers were established by Congress in 1992 to facilitate U.S. economic growth through the EB-5 immigrant investment program that allows international investment in exchange for visas in a carefully managed review and approval system. Investment in a project offers legal status to participants and provides substantial funding to businesses for starting or moving operations to the region in efforts to create jobs and foster economic growth and diversity.
"The NVeb-5 program is an outstanding opportunity for our region to capture foreign investment and encourage economic growth and job creation for Northern Nevada in particular. I encourage the public to learn more about the positive effects this nonprofit can have on our future economic sustainability." Mike Skaggs, Deputy Director of the Nevada Governor's Office of Economic Development (GOED).
"One of the key challenges facing economic recovery and diversity is the ability to secure capital funding. There are ideas, products and technology across the region ready to become a business when given access to the right funding and opportunity," said Steve Neighbors, Trustee of Hop & Mae Adams Foundation, "NVeb-5 is an excellent tool for attracting foreign capital and encouraging viable economic growth in Northern Nevada."
NVeb5 is focused on creating jobs for the people of Nevada and investment in the region through encouraging foreign direct investment into Nevada businesses. For more information please contact Rob Hooper at 775.883.4413 or visit www.NVeb5.org.
Media Contact: Lee Bonner, Director of Communications
Northern Nevada Development Authority
775.901.2619 / Email