FirstPathway Weblog

Friday January 20,2012 – United States Senator Ron Johnson visited FirstPathway Partners today to express his appreciation for the significant economic and job creation impact FirstPathway Partners has had on Southeast Wisconsin under the Federal EB5 Regional Center Program. FirstPathway Partners was honored to host the senator and hear his insights. 

Senator Johnson is a United States Senator of the 112th Congress representing the state of Wisconsin, and a member of the Republican Party.  Prior to his election to the Senate, he was chief executive officer of PACUR, LLC, a Wisconsin polyester and plastics manufacturer.

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On Wednesday September 28th 2011, Alejandro Mayorkas, Director of USCIS addressed the U.S. Chamber of Commerce on the importance of immigrants in American competitiveness, growth and prosperity. Throughout his address, Director Mayorkas commented on upcoming policy changes to the EB5 program aimed at streamline the process and delivering meaningful case information on a real time basis.

“We have made significant changes in the way we adjudicate cases in the immigrant investor or EB-5 program, a program that is designed to create American jobs.  We have retained business analysts to support our adjudicators, and received more than 75 applications for additional economists.  We will be hiring corporate expertise, issuing new policy guidance in the next few weeks. And currently we have outstanding a targeted request for proposal to re-engineer our business process from beginning to end. “-Alejandro Mayorkas, Director of USCIS

The policy changes advocated by Director Mayorkas seek to advance those already seeking to access to benefits for which they are eligible, keep pace with the dynamism of modern business and simplify job creation for American citizens.

In one of the strongest indications of the day, The U.S. Chamber of Commerce signaled their willingness to advance the EB5 program, publicizing the movement.

Tuesday, May 10, 2011- Bob Kraft Chairman and CEO of FirstPathway Partners was chosen to moderate two sessions at the 47^th annual Wisconsin International Trade Conference.

During the sessions, Kraft commended the efforts of Milwaukee Mayor, Tom Barrett in expanding international trade, particularly with China. In his speech, the mayor encouraged efforts to further increase international trade and investment in our community, citing his support for EB5. The mayor expressed excitement for such projects as the Marriott which is seeking EB5 financing through FirstPathway Partners.  Mayor Barrett has also dubbed the summer of 2011 “The Summer of China,” featuring the US Table Tennis Open and The Milwaukee Art Museum’s, The Emperor’s Private Paradise: Treasures from the Forbidden City.  Several Chinese delegations are scheduled to visit Milwaukee throughout the summer.

In conjunction with the Wisconsin International Trade Conference,  FirstPathway Partners also attended the Wisconsin Export Awards luncheon where Wisconsin Governor, Scott Walker addressed International business leaders. The Governor’s key message to investors and entrepreneurs was that Wisconsin is open for business. Wisconsin has added 24,000 jobs in the past 3 months, leading the country in new job creation. FirstPathway Partners is committed to driving job creation in Target Employment Areas across Wisconsin.

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In a recent article, The Business Journal highlighted the importance of the continual push to make EB-5 permanent. Since 1993, the EB-5 pilot program has been renewed by Congress allowing Regional Centers to continue to bring much needed jobs and capital investment into our communities. The author also commends the Metropolitan Milwaukee Association of Commerce (MMAC) Regional Center, “which paved the way for EB-5 to be used on projects in southeast Wisconsin.”

This article serves as a reminder to future investors and the community at large that business leaders, Senators, and organizations like IIUSA, are continuing their efforts to make the “beloved” EB-5 program permanent.

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Friday September 24, 2010- FirstPathway Partners presented on the topic of EB5 during a recent seminar for top Chinese CEO’s at Blackman Kallick in downtown Chicago. The seminar series, lead by world renowned Northwestern University Professor Clarke Caywood, also featured an introduction to investment in the United States featuring speaker Stella Su, Blackman Kallick, China Practice & Director of Corporate Finance Consulting.

FirstPathway Partners would like to thank all those in attendance.

Earlier this month FirstPathway Partners was featured in a JoongAng Ilbo article about the increasing popularity of EB5 investment visas. According to the author the programs popularity can be directly attributed to its many benefits over comparative visas. Investors enjoy reduced public university tuition, employment eligibility, freedom to live anywhere in the US and more.

Read more about FirstPathway Partners  and the increasing popularity of EB5

FirstPathway Partners was honored to host Kevin Yuan of Nanjing, China this week.  During his visit Mr. Yuan met with high level MMAC officials to discuss EB5. Yuan also toured projects and areas of development throughout the region including The Pabst City Development, The Menomonee Valley and others. FirstPathway Partners looks forward to a long and fruitful relationship with Yuan and Qiaoye Investment Consulting Co.,Ltd.

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Over 100 invited guests gathered to mark the addition of the Aloft Hotel to Milwaukee’s river walk, during a ribbon cutting ceremony Thursday, December 17th 2009. Distinguished speakers included  Department of City Development Commissioner  Rocky Marcoux, Alderman Nik Kovac, Antonio Riley of the Wisconsin Housing and Economic Development Authority and Aloft officials.

The Aloft Hotel- Milwaukee is a pending project in FirstPathway Partners (FPP) EB5 fund portfolio. “The Aloft project has the perfect combination of investors, underwriters and management, combined with city, county, state and federal government financial support. It creates a big win for the City of Milwaukee.” Commented Bob Kraft CEO of FirstPathway Partners.

The Aloft, a brand of Starwood Hotels & Resorts Worldwide, Inc. is located downtown at 1230 N. Old World Third St., in the Park East corridor. It is the first Aloft location in southeastern Wisconsin. The completed five-story, 160-room hotel in downtown Milwaukee  features 5,000 square feet of meeting space, a fitness center, an indoor pool overlooking the riverwalk and the Wxyz Bar in the lobby/lounge area. Nearby attractions include the Milwaukee River, The Bradley Center (home of the Milwaukee Bucks) and trendy local bars/restaurants.

“(The Aloft) brings with it the much-needed concept of affordable, chic accommodations for the contemporary business traveler and vacationer.” Dave Johnson, President and CEO of Aimbridge Hospitality “We are pleased to introduce Starwood’s newest urban-boutique lifestyle brand to a market that has been greatly underserved.”

According to FPP’s USCIS approved job creation methodology, The Aloft Hotel will create 471 direct and indirect jobs.  “FPP is proud to have this internationally recognized property in its EB5 Citizenship Fund portfolio,” – Bob Kraft.

The Grand Opening is to be held in January of 2010.

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Congress has approved legislation to extend the EB5 “investor visa” program 3 years as part of the DHS FY2010 Appropriations Bill.

This will extend the EB-5 Visa Program through October 1, 2012.

Last week PSA in conjunction with FirstPathway Partners hosted a seminar on EB5 at the Makati Shangri-la Hotel in Manila. This marks the first of many successful seminars in the Philippines.

During his stay FPP, VP of Compliance, Dan Wycklendt also visited  agents throughout the area.