Monday, January 29, 2018 1:22 pm
CMB Regional Center in is celebrating 20 years of operation. A Regional Center is an organisation designated to sponsor capital investment projects for investment by EB-5 investors. Regional centers help EB-5 investors and project developers because they lessen the difficulty of meeting the qualifying job creation requirements under the EB-5 program. The EB-5 visa (Employment-Based Fifth preference category  or EB-5 Immigrant Investor Visa Program) was created by Congress in 1990 by the Immigration Act to stimulate the U.S. economy, provides a method for eligible Immigrant Investors to become lawful permanent residents.
Basically, it is an avenue for foreigners to bring capital investment into the United States in exchange for American citizenship both from the primary applicant, their spouses and unmarried children under age 21. EB-5 permanent residents’ visas have emerged as the best bet for Nigerian families aspiring for US citizenship.
Originally designated in 1997 to operate in and around six former or realigned military bases across three California counties, CMB Export LLC has since expanded to cover the entire State of California and Nye County Nevada. In fact, the CEO, Patrick F. Hogan, has been involved with the EB-5 program since 1994, which coincides with the establishment of the Regional Center Pilot Program. The original CMB investment concept focused upon communities that had been devastated by California military base closures, which resulted in the loss of the tens of thousands of jobs associated with the operation of those military bases.
Today, CMB operates 15 Regional Centers and has scope within 21 states. The EB-5 investment focus for each Regional Center is infrastructure construction. CMB has worked in partnership with government entities such as cities, counties, redevelopment agencies, port authorities, joint power authorities, airport authorities, state government, and public/private partnerships. CMB has experience in collaborating with all levels of government and private industry to achieve the primary goal of the EB-5 program-create jobs in the areas of the
country that need them the most.
CMB has raised over $2.8 billion in EB-5 investment capital which has been combined with approximately $10 billion in public and private funds. This combination of capital and the multiplying effect of spending is projected to generate over 143,000 (direct, indirect, induced) new American jobs through projects funded since 2007. CMB has been able to achieve this record while working in significantly depressed areas of the country.