Schumer, Owens Announce North Country Chamber of Commerce Successful Initiative to Create EB-5 Regional Center; Plan Will Unleash Economic Potential of Region, Create Jobs

Press Release

North Country Chamber of Commerce Approved to Form EB-5 Program In Plattsburgh; Center Will Invest in Transportation, Aerospace, Manufacturing, Technology Projects to Create Permanent Jobs

EB-5 Program Joins Foreign Investors With Rural Areas to Create Jobs

Schumer, Owens: Creation of EB-5 Regional Center Shows Economic Potential of North Country

Today U.S. Senator Charles E. Schumer and Congressman Bill Owens announced that the North Country Chamber of Commerce's application to create the North Country EB-5 Regional Center has been accepted by the U.S. Citizenship and Immigration Services. The EB-5 program allows qualified immigrant investors to receive temporary green cards for their immediate family, in exchange for a $500,000 investment in rural areas, once cleared by thorough background and financial investigations by immigration services. The Plattsburgh-North Country Chamber of Commerce applied for this program in August 2010. The program will provide a major investment and create jobs in the North Country. Investment projects and enterprises organized through the North Country EB-5 Regional Center will be intended to create permanent jobs within the boundaries of the Regional Center and promote business development within the region as a whole.

"The approval of the regional center in Plattsburgh is welcome news and will provide much-needed investment and job creation in the North Country," said Senator Schumer. "I am thrilled to have helped guide the regional center in presenting an application that would be met with approval from the immigration service. The fact that CanAm Enterprises and North Country Chamber of Commerce put together a successful application only reinforces what we already knew--that Plattsburgh and the North Country have incredible economic potential, and a world-class workforce worthy of significant financial investments."

"This is an important economic development tool that the North Country Chamber, Sen. Schumer, and myself have worked extremely hard to make a reality," said Owens. "I am pleased that I was able to play a part in contacting USCIS to ensure a fair and expedited review process. I congratulate Garry Douglas for his hard work on this project, and I believe this is going to set the North Country apart as an area of economic investment. The counties covered by this program are now more attractive to international investors who want to expand and create local jobs, which is my top priority."

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