MONTPELIER – The Agency of Commerce and Community Development’s EB-5 Regional Center has received the EB-5 Regional Center of the Year Award for the second year in row from the Artisan Business Group.
The Artisan Business group is one of the largest EB-5 brokers in the world, dealing primarily with the Chinese investor marketplace.
In making the award, the Artisan group noted that as the only government-run regional center in the country, Vermont stands out with its strong governmental support, including direct involvement in the program from Gov. Peter Shumlin and U.S. Sen. Patrick Leahy.
The primary focus of Vermont’s involvement in EB-5 is job creation.
“These investments require job creation, so becoming the industry leader nationally not only provides significant investment capital for Vermont businesses, but also creates jobs for Vermonters,” said Commerce and Community Development Secretary Lawrence Miller.
The Vermont EB-5 Regional Center was created in 1998 and is managed by the Vermont Agency of Commerce and Community Development.
The federal program gives a green card benefit to investors who invest at least $500,000 in an approved project, and who then show the investment creates at least 10 direct and indirect jobs.
Since 1998, more than $250 million have been invested in Vermont by EB-5 investors in various companies, including Jay Peak Resort, Sugarbush Resort, Country Home Products, and Seldon Technologies.
An estimated $100 million was invested in 2011 in Vermont projects. With almost 200 regional centers in the country, the investment represents nearly 15 percent of all EB-5 investment nationally for the year.