EB-5 Update for Vermont Venture Network

Great presentation today for the Vermont Venture Network on EB-5 investment by James Candido of the Vermont Agency of Commerce and Community Development.  Vermont's EB-5 regional center remains the only state-run regional center and James has staffed the effort since 2004.  He reports amazing growth in EB-5 investment in Vermont, rising from $40.5 million invested in 2009 to $123 million invested in 2010.  That's investment capital from international investors flowing into Vermont businesses.  As a percentage of total EB-5 investment nationwide, our small state received an impressive 12.6% of total EB-5 investment in 2010, up from 8% of the total in 2009.  The success of Vermont's EB-5 investment program stems in large part from the long term efforts of Bill Stenger at Jay Peak Resort, one of the most successful EB-5 project developers in the country.  We all know the Vermont brand is powerful for recreation and consumer products, and the same holds true for EB-5s.  "Everyone can benefit from the Vermont brand that is being created" for EB-5 investment, according to James Candido. There are now nine EB-5 projects in Vermont and James is confident the State's Regional Center has the capacity to take on additional projects that develop.  A state-run Regional Center with a solid track record like Vermont's is appealing to potential EB-5 investors, all of whom are foreign nationals who can choose any EB-5 project in the country as a vehicle for their investment to become permanent residents of the United States.  So kudos to Vermont state government and our local business community for developing this niche to attract international investment capital to fund business development in Vermont.