2014 is destined to be an extraordinary year for the U.S. investment immigration industry. In addition to the endless discussions on policy topics such as waiting times, price increases, and "one-size-fits-all" approaches, the approval of the WorldWay's U.S. 520 Bridge Bond Project marks a significant milestone, opening a new chapter for the U.S. EB-5 program. Furthermore, the Pennsylvania Turnpike project, as another selected government project, has once again become a cornerstone in the EB-5 sector. Notably, the presentation of the Pennsylvania Turnpike project was personally promoted by U.S. Congressman Mike Fitzpatrick, directly addressing Chinese investors, which is a first in the EB-5 industry.
U.S. Congressman Endorses the Project with Votes
It is worth noting that the project presentation held in Beijing and Shanghai exceeded the usual standards of the investment immigration industry, with Congressman Mike Fitzpatrick personally explaining the project. The reason for this decision, Mr. Fitzpatrick stated, is that he wishes to express his gratitude to his constituents through tangible actions. The Pennsylvania Turnpike and the I-95 transportation hub hold significant strategic importance for Pennsylvania and the entire United States. Pennsylvania, which has been established for 320 years, would rank 20th in the world in terms of economic strength if it were a country. Regarding the EB-5 policy, Mr. Fitzpatrick revealed as a Congressman that the funds raised through this excellent financing method are used to improve municipal construction at various levels of government in the U.S., aligning with the legislative intent of the U.S. EB-5 Act and receiving support from the U.S. Congress. This statement provides strong support for the EB-5 policy during a time of significant change.
Mr. Pat Deon, Chairman of the Pennsylvania Turnpike Commission, who also attended the meeting, further introduced that there are many Fortune 500 companies in Pennsylvania, and the transportation of goods is vital to this economy. For this reason, the Pennsylvania Turnpike and the I-95 transportation hub project are directly supervised by the federal government, which has also allocated some funds from the treasury—demonstrating its importance.
EB-5 Financing Benefits Multiple Parties
Many wealthy individuals in the U.S. have a favorable view of the EB-5 policy. As Bill Gates and Warren Buffett stated in their joint open letter supporting EB-5 this year, Mr. Pat Deon also recognizes the advantages of this financing method. He introduced to Chinese investors that the commission itself is in a very good profit situation, and with the support of the federal government, the commission actually has sufficient capacity to complete this project. However, after communicating with the DVRC regional center, he believes that using EB-5 financing is more advantageous compared to traditional bond issuance: it can save $30 million in interest. More importantly, it can promote stable job growth, and therefore, the commission strongly supports this.
As a win-win project, the advantages of the Pennsylvania Turnpike are also evident for Chinese investors. This project is the first EB-5 project launched since the enactment of the U.S. investment immigration EB-5 Act in 1990, fully owned, invested, managed, operated, borrowed, and repaid by the U.S. state government. The financing for the construction of the I-95 interstate highway is already underway, with completion expected in 2018. Additionally, the project has a job multiplier of 5.3, and the job positions have been approved by the immigration bureau, providing strong support for investors to lift the conditions on their green cards after two years.
New Ideas for Project Selection in the Industry
The approval of the U.S. investment immigration 520 Bridge Bond Project is regarded as a milestone in the industry, pioneering a new directional U.S. government infrastructure bond EB-5 investment model. U.S. EB-5 investment immigration has transitioned from the "project investment era" to the "financial investment era." Collaborating with government-led infrastructure projects has become the most popular and safest EB-5 project at present. It must be said that after WorldWay successfully became the first "pioneer," investment immigration companies have opened new ideas in project selection.
The Pennsylvania Turnpike project, personally recommended by a U.S. Congressman, continues this line of thought. This project has already received pre-approval from the U.S. Citizenship and Immigration Services (USCIS) I-924, which means that USCIS has preliminarily approved the reasonableness and legality of the EB-5 investment project. Therefore, when USCIS approves the I-526 conditional green card, as long as the project's legal documents remain unchanged, it only needs to focus on the legality of the investor's source of funds, without needing to reassess the project itself, significantly reducing the approval time and allowing investors to gain more valuable approval time.
From the perspective of obtaining a green card and ensuring fund security, the Pennsylvania Turnpike project has set multiple safeguards for investors. It is currently the highest-rated EB-5 project in the market. The borrower, the Pennsylvania Turnpike Commission, has long maintained a high credit rating, with the three major international rating agencies (S&P, Moody's, and Fitch) rating the commission as "A+", "A1", and "A+" respectively, which is higher than the credit ratings of all state-owned banks in China.
Currently, the first phase of the Pennsylvania Turnpike project is about to sell out, with only a few remaining slots. Last call, opportunity! Please call the hotline at 400-138-2929
Presentation of the Pennsylvania Turnpike Project
Qingdao
Time: November 22, 2014, Saturday, 14:30
Location: 2001, Zhaoyin Building, 36 Hong Kong Middle Road, Shinan District, Qingdao
Shenzhen
Time: November 22, 2014 (Saturday) 14:30-17:00
Location: Washington Hall, WorldWay Shenzhen Company (China, 604-612, Excellence Times Square, 4068 Yitian Road, Futian District, Shenzhen)
Shanghai
Time: November 23, 2014, Sunday, 14:30
Location: 12th Floor, Standard Chartered Bank Building, 201 Century Avenue, Lujiazui, Pudong, Shanghai
