2014 is destined to be an extraordinary year for the investment immigration industry. In addition to the endless discussions on policy topics such as waiting periods, price increases, and "one-size-fits-all" measures, Worldway— as a leading institution in the industry— has made significant strides. The approval of the 520 Bridge Bond Project has opened a new chapter for the U.S. EB-5 program. Furthermore, the Pennsylvania Turnpike project, as another selected government project by Worldway, has once again become a flagship initiative in the EB-5 sector. Notably, the presentation for the Pennsylvania Turnpike project was personally promoted by U.S. Congressman Mike Fitzpatrick, directly addressing Chinese investors, which is a first in the immigration industry. Over a hundred investors in Shanghai experienced this historic moment at the Ritz-Carlton on November 9th.
Congressman Endorses the Project with Votes
Congressman Mike Fitzpatrick, who attended the presentation in Shanghai, hails from Pennsylvania. He was re-elected as a Congressman for the fourth time in the midterm elections held last week. After the election, Mr. Fitzpatrick did not even have time to return to his district to thank voters; instead, he boarded a flight to China— if you understand American politicians, you know how crucial votes are to them. For this reason, Mr. Fitzpatrick received a warm welcome from investors in Shanghai.
U.S. Congressman Mike Fitzpatrick
Mr. Fitzpatrick stated that he made this decision because he wanted to express his gratitude to his constituents through tangible actions. The Pennsylvania Turnpike project holds significant strategic importance for Pennsylvania and the entire United States. Regarding the EB-5 policy, Mr. Fitzpatrick mentioned that the funds raised through this excellent financing method are used to improve municipal construction at all 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.
As Mr. Pat Deon from the Pennsylvania Turnpike Commission stated, there are many Fortune 500 companies in Pennsylvania, and the transportation of goods is vital to the economy. For this reason, the Pennsylvania Turnpike project is directly supervised by the federal government, which has also allocated some funds from the treasury— demonstrating its importance.
EB-5 Financing Benefits Multiple Parties
Mr. Pat Deon, Chairman of the Pennsylvania Turnpike Commission, introduced to investors that the commission's profitability is very good, 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.
Mr. Pat Deon, Chairman of the Pennsylvania Turnpike Commission
The project is represented by the DVRC Regional Center, which is recognized by the U.S. Citizenship and Immigration Services as an EB-5 regional center, aimed at attracting foreign investment for large infrastructure projects in the Delaware Valley region. DVRC has just been established, and its purpose is noteworthy— to attract foreign capital for large infrastructure projects. This fully illustrates the U.S. Citizenship and Immigration Services' attitude towards infrastructure projects.
For Chinese investors, the advantages of the Pennsylvania Turnpike are also evident. This project is the first EB-5 project since the enactment of the U.S. EB-5 immigration law in 1990, which is 100% owned, invested, managed, operated, borrowed, and repaid by the U.S. state government. The I-95 interstate highway, financed and constructed by the Pennsylvania Turnpike project, has already commenced construction and is expected to be completed in 2018. In addition, the project has a job multiplier of up to 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.
Worldway Selected Projects Are Safe and Reliable
Dr. Winner Xing, President of Worldway Immigration Group, also delivered a speech at the meeting. He specifically analyzed the two major risks of U.S. investment immigration for investors from Beijing and Shanghai: employment risk and investment risk. The key to success in U.S. investment immigration lies in selecting the right project. Dr. Winner Xing shared Worldway's experience and methods in selecting U.S. EB-5 investment immigration projects, particularly mentioning that the Pennsylvania Turnpike project has two major highlights: it has already received pre-approval from the U.S. Citizenship and Immigration Services under I-924; and it is a government project where the U.S. state government borrows and commits to repayment. For this reason, once the Pennsylvania Turnpike project was launched, it created a near-scramble situation.
In terms of obtaining a green card and ensuring fund security, the Pennsylvania Turnpike project has set multiple safeguards for investors. The U.S. investment immigration Pennsylvania Turnpike project is another EB-5 project launched by Worldway after the approval of the 520 Bridge Bond Project, which is also financed and committed to repayment by the U.S. state government, and is currently the highest-rated EB-5 project in the EB-5 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 Pennsylvania Turnpike Commission as "A+", "A1", and "A+" respectively, which is higher than the credit ratings of all state-owned banks in China.
The Pennsylvania Turnpike project presentation in Shanghai received strong support from investors, with over a hundred attendees. The atmosphere was lively, and clients eagerly took photos with the invited Congressman. After the meeting, investors immediately engaged in one-on-one discussions with Worldway consultants to understand the project details, and many investors queued to consult with Dr. Winner Xing, President of Worldway. Several clients signed contracts on-site.
The Pennsylvania Turnpike project, a 100% government project that has received pre-approval from the U.S. Citizenship and Immigration Services, has sounded the horn for the imminent arrival of project deadlines before the 2015 waiting period. As a leading institution in U.S. investment immigration, Worldway's immigration experts remind investors that the waiting period is approaching and price increases are imminent. Many investors are rushing to apply, but it is even more important to choose projects carefully. Currently, there are few remaining slots for the first phase of the Pennsylvania Turnpike project, so submitting applications early to obtain a U.S. green card quickly is crucial to not miss out on this rare high-quality U.S. investment immigration project. For more details, please follow: WeChat account "Worldway Shanghai Immigration Company", Weibo account "Worldway Shanghai Immigration Company", or call the free consultation hotline "400-0907-099". More events and information are available at Worldway Shanghai.
