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.
Milwaukee- On Tuesday March 16, 2010 the China Council for the Promotion of International Trade Ningbo Sub-Council (CCPIT) in joint with the China Chamber of Commerce Ningbo Chamber (CCOIC) finalized a Memorandum of Understanding (MOU) with the Metropolitan Milwaukee Association of Commerce ( MMAC ).
In a closed meeting, CCPIT/CCOIC Chairman Zhengwei Gu and MMAC President Tim Sheehy signed an MOU which aims to bridge cultural, trade and economic exchange between Ningbo, China and Milwaukee, USA. Ningbo is Milwaukee’s informal sister city.
Other attendees were the Chief of the Ningbo Department of International Exhibition Mr. Wei FU, Milwaukee Deputy Commissioner Martha Brown, MMAC Vice President Peter Beitzel, Ningbo Ambassador to the United States Bangjie He, FPP Chairman and CEO Bob Kraft, FPP Partner Dick Zagorski, and attorneys Julie Lee and Tom Gehl.
Last week FirstPathway Partners was honored to host the president of Coryo, one of the largest and most respected Korean immigration firms. Her associates included Mr. Kim and Ms. Oh.
During their trip our guests were able to tour the Aloft Hotel, the Pabst Redevelopment, Miller Park, the Metropolitan Milwaukee Association of Commerce (MMAC) and City Hall. While visiting City Hall, our guests had the pleasure of meeting with Head of City Development, Patrick G. Walsh and City Commissioner, Rocky Marcoux to discuss Milwaukee’s vibrant investment environment. City representatives also voiced their willingness to help facilitate Korean and other foreign investment throughout the area.
We were honored to have such agreeable and accomplished guests. We look forward to a long and prosperous relationship with Mrs. Kim and Coryo.
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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 Partners was excited to host Phil Fan and our new friends from Shanghai last week. The tour made stops at the MMAC, The Pabst City Development, The Menomonee Valley, and The University Club Towers. It was a great pleasure to have such kind, noteworthy guests.
The Metropolitan Milwaukee Association of Commerce (MMAC) China Business Council was honored to host the distinguished and admired Ambassador of China to the United States, Zhou Wenzhong, and the Consul General of China in Chicago, Huang Ping, during its annual Chinese New Year Reception on Monday, February 9. Over 75 invited guests and dignitaries gathered to celebrate the Lunar New Year with delicious Jiăozi, stimulating speeches and striking Chinese calligraphy scrolls.
Among the speakers was Ambassador Zhou Wenzhong, who spoke highly of his visit to Milwaukee. It was obvious that this event symbolized the not only the meeting of East and west but the solidification of China’s connection to SE Wisconsin.
MMAC China Business Council Co-Chairs Ulice Payne and First Pathway Partners’ Bob Kraft, were honored to present the Ambassador with Milwaukee keepsakes. During the event local business leaders were also given to opportunity to speak with the Ambassador. When asked about his conversations with the Ambassador FPP’s VP of Compliance, Dan Wycklendt said that he had never met a man so noble and humble.
While in Milwaukee the Ambassador and the Consul General also enjoyed a Bucks/Rockets game hosted by the MMAC China Council. The game featured Chinese Native, Western Conference All star, Yao Ming.
As the City of Milwaukee and FirstPathway Partners welcomed the Ningbo Delegation, the Chinese came baring gifts. In an event at the Zeidler Municipal Building in Downtown Milwaukee, two hand carved stone lions were unveiled by Milwaukee Mayor Tom Barrett, Ningbo Vice Mayor Wu Hemin, and FirstPathway Partners Chairman Bob Kraft, among others. These 6 foot tall lions each weigh nearly 3,000 pounds, and will guard the city of Milwaukee. FirstPathway was honored to be part of such a wonderful event.
FirstPathway Partners also sponsored a boat tour on the Milwaukee River and Lake Michigan for the Ningbo Delegation. The visitors from China were able to get a unique view of Milwaukee from the water, and see much of what the City has to offer.
After the dedication of the lions, Bob Kraft and Dan Wycklendt joined the rest of delegation for dinner at Foley and Lardner, in the top of the US Bank Building. It was a perfect opportunity for the Milwaukee representatives to break bread with the visitors from Ningbo and discuss the future growing relationship between the two cities.
The following day, representatives from the Milwaukee area and local business people met for the 2008 Ningbo-Milwaukee Business Cooperation Trade Conference. The Conference, hosted by the Metropolitan Milwaukee Association of Commerce, focused on opportunities for Ningbo and Milwaukee to work together in the future.
FirstPathway Partners was honored to take part welcoming our visitors from Ningbo. We look forward to working with them in the future to grow the relationship between our two cities.
Thank you Jason Li and Janice Zagorski for the pictures from the events!
Here is the story from the Milwaukee Journal Sentinel.
http://www.jsonline.com/story/index.aspx?id=774242
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
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