On March 22, 2023, at 14:30, Worldway Immigration Group's Qingdao office launched the first U.S. immigration project promoted by a member of Congress in China—the $500,000 EB-5 project—Phase II of the Pennsylvania Turnpike project. This event attracted dozens of interested clients, creating a lively atmosphere with frequent applause, indicating the project's recognition among netizens.
The Phase II project of the Pennsylvania Turnpike is a second round of financing for the same project after the first round was sold out. Like the first phase, it also has 100 spots, invests in the same highway project, and uses the same set of I-526 project documents, which have also been pre-approved by the U.S. Citizenship and Immigration Services (USCIS) as a 100% government project. Phase II will continue the successful experience of Phase I, replicating the entire process of the Pennsylvania Turnpike Phase I to ensure the safety of investors' funds and identities.
Dozens of netizens attended the U.S. immigration briefing in person.
This event invited former Vice Chairman of the Pennsylvania Turnpike Commission, Timothy J. Carson, and President of DVRC Regional Center, Joseph P. Manheim, to provide detailed introductions to the advantages of Phase II of the Pennsylvania Turnpike project:
1. 100% USCIS Approved Government Project. The Pennsylvania Turnpike project is a rare EB-5 project jointly invested by the U.S. federal government and the Pennsylvania state government, and is financed by the Pennsylvania Turnpike Commission, which has committed to repayment. It has received pre-approval from USCIS under the I-924 program, and is a 100% government-owned, government-invested, government-managed, government-operated, government-borrowed, and government-repaid EB-5 project.
2. Borrower with A+ Credit Rating. The borrower of the Pennsylvania Turnpike project—the Pennsylvania Turnpike Commission—has a long-standing high credit rating, with ratings from the three major international rating agencies (S&P, Moody's, and Fitch) being "A+", "A1", and "A+" respectively. Currently, the ratings from the three major international rating agencies have become an important reference for governments, investment institutions, and individual investors in making investment risk decisions in EB-5.
3. The project has already commenced construction. The project began construction in 2012 and is expected to be completed in 2018. The Pennsylvania Turnpike Commission does not require EB-5 funds to initiate and complete the project.
4. Employment surplus of up to 4.3 times. The EB-5 Immigration Act stipulates that each investor must directly or indirectly create ten jobs. Renowned U.S. economist Michael K. Evans' employment report indicates that, based on the RIMS II method, the Pennsylvania Turnpike construction project can create 43.68 jobs for each EB-5 investor, resulting in an employment surplus of 4.36 times, far exceeding the legal requirements of the U.S. EB-5 program, providing more assurance for resolving green card issues.
Winner Xing, President of Worldway, also mentioned that the employment calculation method for the Pennsylvania Turnpike Phase II project is based on construction investment rather than actual employment, which has been approved by the immigration bureau. Furthermore, since 2012, the project has already begun creating jobs, and this timeline has also been approved by the immigration bureau.
At the briefing, investor Aunt Zhang mentioned her reason for attending the U.S. immigration briefing. Aunt Zhang stated that she already owns multiple properties in Qingdao, and as her understanding of asset allocation has improved, she has begun to consider extending her assets overseas. The U.S., with its excellent medical care, social welfare, and many other advantages, has become her preferred investment country. She hopes to further understand the policies and processes of U.S. investment immigration through this briefing, saying, "If all goes well, I hope to enjoy my retirement in the U.S. in two years."
