Thursday, April 12, 2012

Immigration Program for Wealthy Foreigners

(Tampa, Florida) Local decision-makers are salivating to have Chinese immigrants pay for a new stadium for the Tampa Bay Rays.
Chamber of commerce leaders from Tampa and St. Petersburg who have been studying how to pay for a new Rays stadium landed on an obscure federal immigration program called EB-5 that might help with the half-billion-dollar tab.

Under the program, foreigners willing to invest at least $500,000 each to create jobs in the United States can qualify for a green card for themselves and their families.

Essentially, affluent foreigners can buy their way into a life in America — and the majority are coming from China.
The idea of using foreign EB-5 money is also being considered in Oakland, CA. Like the Tampa Bay Rays, the Oakland A's want a new ballpark.

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