Tom Daykin of the Milwaukee Journal Sentinel recently detailed the U.S. Customs and Immigration Services (USCIS) approval of the first of 30 Chinese investors capitalizing on the EB-5 Visa Program.
In his article, “Feds Approve Foreign Investor’s Role in Pabst Project.” Daykin spotlights Gary Gorman’s hotel and Hofbrauhaus restaurant project in Milwaukee. The author states that Pabst Brewery’s former Brew House and Mill House buildings will be converted into a new, “six-story, 90-room extended stay hotel” and Hofbrauhaus restaurant. According to Daykin, the funds for the development project came through Gorman and Co. which enlisted 30 EB-5 Foreign Investors.
Daykin quotes the operator of Gorman and Co., “That’s one out of 30,” Gorman said. “But it’s very significant because it means the UCIS didn’t have any problems with the development itself.”
IIUSA works with USCIS to make the EB-5 application process as quick and transparent as possible. Congress can increase investor confidence in the program by lifting the “pilot” status and making the Program permanent.
[PDF copies of the articles referenced in this post are available upon request: info@iiusa.org]
