June 14, 2010

The City of Portland and Portland Development Commission today released a Request for Expressions of Interest (REI) from private companies that may be interested in partnering with PDC to submit an application to create an EB-5 Regional Center.

The EB-5 program, created by Congress in 1990, allows qualified foreign nationals who invest $1 million in commercial enterprises which create new U.S. jobs to receive immigrant visas. The program, which is administered by the U.S. Citizenship and Immigration Services office in the Department of Homeland Security, has been used by cities across the United States to generate significant investment and development.

“For Portland to stay competitive with cities across the nation, we’ve got to be able to attract investment dollars to help fuel the growth of our innovators and entrepreneurs,” said Mayor Sam Adams. “Bringing the public and private sectors together to attract capital and investors to our region also supports our economic development strategy.”

To view the EB-5 Request for Expression of Interest, visit: www.pdc.us/eb5

For more information on the EB-5 program, visit: www.uscis.gov/eb-5centers