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July 2012
EDA Office of Foreign Trade • Riverside County, California • USA
“Without USA Continental Regional
Center, none of this would be
happening,” said Murrieta Mayor
Doug McAllister. “They fill a niche that
otherwise would be missing.”
“This kind of Foreign Direct investment
is welcomed here in Riverside County,”
said 3rd District Supervisor Jeff Stone;
after presenting U.S. Continental
the County’s first International
Investment Award.
Since getting involved with the EB-5
program in 2009, Riverside County
now has more EB-5 centers than 49
states, Freeman said. There already
are about 55 such centers authorized
by the federal government to work in
Riverside County and about 20 more
proposed centers have applications
pending, Freeman said.
Foreign investors who are willing to
invest $500,000 to $1 million and
create a specific number of long-term
jobs can gain access to U.S. residency
and get on the path to citizenship. The
program is especially popular with
investors who have families they want
to relocate to the U.S.
USA Continental Regional Center
understands the advantages of getting
foreign investors involved in local
projects, both for the economic health
of the local community and through the
contributions that such investors make
when they gain entry to the U.S. as a
result of their investment.
“EB-5 has a tremendous trickle-down
effect,” Rattan said. “They are going
to buy a house and send their kids to
school here. There really is a domino
effect.”
There is, however, more competition
than ever for EB-5 investors, Rattan
warned. There also is more competition
for foreign direct investment from
other countries around the globe.
“We have to compete,” Rattan said.
“There are a host of countries that are
competing for people who want that
second citizenship.”
The EB-5 program is especially
important to cities now that the
state has eliminated the ability for
local governments to engage in
redevelopment, McAllister said.
“When I see a good project that is
coming forward and needs financing,
this is one way to do that,” McAllister
said. “With redevelopment gone, this is
one of the few tools we have left.”
3rd District County Supervisor Jeff Stone (center) meets with Al Rattan, President of USA Continental Regional Center