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|Articles - April 2011|
|Tuesday, March 22, 2011|
Page 2 of 8In spite of its West Coast location, its ample resources, its strong history of partnering with Japanese businesses and its sizable exports to China, Oregon has been slow to attract Chinese investment. But recent deals hint at a monumental shift:
Williams says the EB-5 projects her group is planning would create “well over 1,000 jobs” in remote forests and struggling urban centers throughout Oregon by financing urban development projects and woody biomass operations.
Chen’s projections are even more ambitious. His EB-5 plan calls for creating 2,000-3,000 jobs in Oregon over the next three years and 7,000 over the next five to seven years by investing in a wide variety of new and existing businesses that need fresh capital to expand.
The EB-5 program was created in 1990. It enables foreign investors who put $1 million into projects that create at least 10 jobs to receive green cards, provided the jobs remain after a two-year trial period. The program becomes doubly attractive for investors if an applicant can convince the federal government to approve an EB-5 regional center. The purpose of these regional centers is to funnel foreign investments into troubled areas with high levels of unemployment. Business Oregon is in charge of identifying those troubled areas around the state, while the regional center’s team is in charge of finding the money and investing in qualifying projects. For EB-5 projects in high-unemployment areas, the investment only needs to be $500,000 instead of a million, and indirect jobs as well as direct jobs can be counted toward the 10 jobs required per green card.
Currently there are 120 EB-5 regional centers in 35 states but none in Oregon. More than half of the centers — 63 — were approved in 2010. By far the biggest users of the program are investors from China seeking green cards. The program allows up to 10,000 green cards per year, a potential infusion of $5 billion to $10 billion in new capital to create jobs with no cost to taxpayers.
In June 2010 the Portland Development Commission put out a “request for expressions of interest” in establishing EB-5 regional centers in Oregon. PDC central city manager Peter Englander says EB-5 money could jump-start major projects that have stalled as traditional financing options have dried up, such as the Burnside Bridgehead, the Centennial Mills waterfront redevelopment and the Oregon Sustainability Center.
“The thing I like about this program is that you have to show the jobs,” says Englander.
Wednesday, August 19, 2015
BY BRIAN LIBBY
Ben Kaiser holds his ground.
Friday, July 10, 2015
BY JACOB PALMER
Most of the food Americans consume is trucked in from hundreds of miles away. Eric Wilson, co-founder and CEO of Gro-volution, wants to change that. So this past spring, the Air Force veteran and former greenhouse manager started work on an alternative farming system he claims is more efficient than conventional agriculture, and also shortens the distance between the consumer and the farm.
Friday, August 21, 2015
Renee Spears, founder and owner of Portland-based Rose City Mortgage, is hot to trot to sell pot.
Monday, July 13, 2015
BY CHRIS NOBLE
Whether you're stepping out to work or onto the track, Pacific Northwest shoe companies have you covered.
Wednesday, August 19, 2015
BY KIM MOORE
A conversation with Chris Maples, president of the Oregon Institute of Technology.
Monday, August 03, 2015
BY JASON E. KAPLAN | STAFF PHOTOGRAPHER
You may have noticed the photos of our rural health innovators departed from the typical Oregon Business aesthetic.
Monday, July 13, 2015
BY AMY MILSHTEIN | PHOTOS BY JASON E. KAPLAN
Telemedicine, new partnerships and real estate diversification make health care more accessible in rural Oregon.
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Transforming the culture of Oregon’s educational leadership.
The Board dismissed a petition related to efforts to unionize the Northwestern University football team.
Every once in a while we receive a letter in the (fictional) mailbag that is tough to describe and quite compelling. This week, Isabel, the new HR manager at LabCo (and someone who is new to HR), wants to know whether she may fire the owner’s son for having an Oregon medical marijuana card. In passing, Isabel also makes a number of alarming admissions about her motivation. Here is Isabel’s nerve-racking question and our response to it.
Presented by OEN + CENTRL + YESpdx.
This Roundtable will cover numerous issues under the employer "shared responsibility" rules of the Affordable Care Act, including how to track the "full-time" status of variable-hour employees, temporary or seasonal employees, and employees who experience a change in status or a break in service. Additionally, we will provide a brief overview of Code sections 6055 and 6056, which require most mid-sized and large employers to submit their first information reports to the IRS in early 2016 regarding the health insurance coverage being offered to employees. We invite you to participate in an interactive discussion on how to prepare for the future impact of the shared responsibility rules on your operations and finances.
Forty-eight Lane Powell lawyers were recently selected by their peers for inclusion in The Best Lawyers in America® (Best Lawyers) 2016; of those selected, 21 are from the Firm’s office in Portland, Oregon.