FirstPathway Weblog

A statement issued by the office of Sen. Patrick S. Leahy, D-Vt., confirms the release of a comprehensive immigration reform framework, which currently includes permanent extension for EB-5, a popular investment visa category with bipartisan support. Below is an excerpt from the Senators statement; to read the full press release visit Senator Leahy’s website at http://leahy.senate.gov/.

“Senators Reid, Schumer and Menendez have released a productive framework for the process of drafting comprehensive immigration reform legislation.  I share their commitment to enacting key legislative efforts including AgJobs, the Uniting American Families Act, the DREAM Act, and a permanent extension of the EB-5 foreign investors program, as part of comprehensive reform.  These are sensible, constructive and urgently needed measures that have had, and should continue to have, bipartisan support.”

The July-August edition of Fortune Magazine recently highlighted the EB-5 visa program as a viable source of capital for the struggling American economy. EB5 was also cited as win-win for foreign investors and developers alike. According to the article, last year alone “EB5 immigrants invested more than 400 million in US ventures.”

Featured in the article was Milwaukee’s very own Tim Sheehy, President of the MMAC, and The Aloft Hotel which anticipates creating over 400 jobs for EB5 investors.

FirstPathway Citizenship Fund to Create Jobs from Foreign Investment

FirstPathway Citizenship Fund was recently sanctioned by the Metropolitan Milwaukee Association of Commerce as qualified vehicle for foreign investors seeking to use the Department of Homeland Security EB5 Program to immigrate to the United States.

To qualify for citizenship under the EB5 program, a foreign investor must invest a minimum of $1,000,000 in a designated Regional Center.This investment must create at least ten jobs for U.S. workers.

The EB5 Program began in the early-1990’s as a means to use foreign investment to create jobs for U.S. workers.The seven-county Milwaukee area became a designated Regional Center for EB5 investment in May 2007.

The $200 million FirstPathway Citizenship Fund pools the foreign investors’ money and places it in qualified real estate development projects within the Milwaukee Region.Typical projects include:

1.Milwaukee International Trade Center (In the abandoned Pabst Brewery complex)

2.The Renaissance ClubSport Hotel & Fitness Resort (A 4-star boutique-style hotel and 70,000+ square foot, resort-style fitness facility)

3.The Hotel Palomar (A 4-star hotel and condominium project in the heart of downtown Milwaukee)

4.The Aloft Hotel (A smaller boutique hotel located on Milwaukee’s scenic Riverwalk)

FirstPathway Citizenship Fund is operated by FirstPathway Partners, a limited partnership, Robert W. Kraft, Chairman.

For more information, visit our website at www.firstpathway.com

Or contact Robert Kraft at     414-791-6968