Governor Douglas to lead EB-5 delegation to Asia
Governor Jim Douglas today announced he will be leading a delegation of Vermont employers to Asia next month to promote investment through the EB-5 Investor Program. The Vermont EB-5 Regional Center is run through the Agency of Commerce and Community Development and has raised over $100 million in new capital for companies and projects in Vermont.
“I am happy to go to the other side of the world to help great Vermont employers grow and create jobs,” said Governor Douglas. “In this challenging economy, helping home grown Vermont businesses succeed is critical to our recovery.”
Governor Douglas led a delegation to South Korea, China, Hong Kong and Taiwan last October. As a result of that trip, Vermont employers attracted over $50 million in new capital from more than 100 investors, which will lead to the creation of more than 1,000 jobs. Additionally, the Governor helped close a deal with a South Korean biotech firm to bring a subsidiary, AnC Bio VT, to the Northeast Kingdom.
“Last year’s trip was a tremendous success,” the Governor added. “Since then, we’ve seen greater interest from Vermont employers and from foreign investors in the EB-5 program and I am looking forward to a successful trip next month.”
Governor Douglas and the delegation will be travelling to Tokyo, Hong Kong, Beijing, Shanghai and Vietnam between October 14 and October 26. Jay Peak Resort, AnC Bio VT, Country Home Products, Seldon Technologies, SB Electronics and United Construction Corporation are among the employers represented on the trip.
About the EB-5 Investor Program
The EB-5 program is a federal investment program run by the United States Citizenship and Immigration Services (USCIS). The goal of the program is to incent investment and create American jobs by setting aside a pool of green cards for qualified foreign investors that invest capital into approved EB-5 projects. U.S. companies are able to use this investment for projects that meet the programs eligibility criteria, such as business expansions, development, or adding capacity. The Vermont EB-5 Regional Center is the only state-run center.
Source: Douglas. 9.16.2010