LANSING, Mich. (AP) - Gov. Rick Snyder says the federal government has approved his request for Michigan to host a center aimed at attracting foreign investors to create jobs and live in the U.S.
The center comes under the Immigrant Investor Program, known as EB-5. Congress created it in 1990 to stimulate the economy through immigration by investors.
Snyder said Wednesday that U.S. Customs and Immigration Services has given expedited approval to creation of an EB-5 Regional Center in Michigan. He says it will be part of the Michigan Community Development Corp. and staffed with Michigan State Housing Development Authority personnel.
Vermont has the only other such center.
Snyder’s office says the center will help “connect eligible foreign investors with potential development projects.”
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Online:
Center details: https://1.usa.gov/1ivPcQa
EB-5 program: https://1.usa.gov/1gMJsjV
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