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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.
Monday, January 26, 2015
BY BRIAN LIBBY
Matt French opens up South Waterfront.
Monday, February 09, 2015
BY MEGHAN NOLT
VIDEO: Gifford's Flowers brings family approach to PSU-area shop.
Monday, January 26, 2015
The day after this issue goes to press, the city of Medford will host its annual business conference. The event features Minoli Ratnatunga, co-author of the Milken Institute’s annual “Best-Performing Cities” report. Preliminary data suggests that Medford is likely to retain its No. 1 ranking among best-performing small cities for having a higher concentration of high-tech firms than the national average.
Tuesday, January 27, 2015
Smartwatches are all the rage. But old-fashioned timepieces keep on ticking.
Friday, February 20, 2015
BY AMY MILSHTEIN | OB CONTRIBUTOR
Don’t just sit there. For a healthy workplace, move up and down — and all around.
Wednesday, February 18, 2015
BY JACOB PALMER | OB DIGITAL NEWS EDITOR
NBA commissioner: "I would love to end up having an All-Star Game in Portland. It's really just a function of ensuring that we can fit in town."
Monday, January 26, 2015
BY JACOB PALMER
Fittingly, Light at Play — a business whose sole purpose is to create mesmerizing ambience — was conceived at Burning Man.
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Generations of students and graduates have been plagued by the question: What is my true calling in life? Four alumni from Corban University’s Hoff School of Business who graduated in different decades say the school helped them find the answer by giving them a practical, well-rounded education.
It’s happening whether anyone’s ready or not. Businesses here in Oregon and across the U.S. are already experiencing the effects of the largest generational shift in recent history, and these changing tides will impact every level of the workplace — from a company’s executive leadership to its cultural core.
Success stories spotlight meaningful career opportunities in Oregon's diverse and lucrative tourism industry.
Local businesses interested in offering retail items, food and beverage, or passenger services at Portland International Airport are invited to attend one of two meetings on March 17.
The Firm was recognized for the strength of its case matters during 2014, including precedents set or verdicts with notable high dollar amounts at stake.
The Oregon Chapter of the Society for Marketing Professional Services, will be hosting it’s Annual Dinner and Keynote event on March 12, 2015. The evening promises to be memorable, with this years Keynote, Christine McKinley.