|| Print ||
|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.
Thursday, February 27, 2014
Our 100 Best Companies project turned 21 this year, so pop open the Champagne. Our latest survey gives us plenty to cheer.
Tuesday, February 25, 2014
BY BRANDON SAWYER
Sales of small businesses surged in 2013 according to the biggest Internet marketplace of such transactions, BizBuySell, increasing to 7,056 reported sales, a 24% increase over 2012, when they dropped 7%. Portland Metro sales tracked by the site grew 9% to 73, capping three years of solid growth. On top of that, Portland’s median sale price jumped 67% to $250K, versus just 13% to $180K nationally. Portland was one of just six metros tracked where the median sale price matched the median asking price, with sellers getting, on average, 92% of what they asked.
Wednesday, April 23, 2014
BY CLIFF HOCKLEY | OB GUEST CONTRIBUTOR
Proposed regulations protect Portland’s strict zoning codes and hotel operators, but they may have an adverse effect on Airbnb’s business.
Tuesday, February 25, 2014
BY SOPHIA BENNETT
The coastal town of Coos Bay appears poised to land every economic development director’s dream: a single employer that will bring hundreds of family-wage jobs and millions in tax revenue.
Thursday, March 27, 2014
BY MARY SPILDE | OP-ED CONTRIBUTOR
Community college career, technical and workforce programs present an opportunity to bring business and education together as never before.
Thursday, April 24, 2014
Click here to fill out our survey on energy and environment issues. Results will be published in our June 2014 issue.
Thursday, April 03, 2014
BY OB STAFF
Learn how to green your workplace and lower your environmental footprint at the office. Oregon Business presents a two-hour "Greening Your Workplace" seminar on May 28th, 2014 at the Nines Hotel in Portland.
|How Doug Badger spends his downtime|
|Port at a crossroads|
|Our man in Congress|
|100 Best awards 2014|
|GM recalls affect profits|
|Science confirms paper money covered with infectious bacteria|
|First lady announces jobs website for veterans|
|Amazon signs deal with HBO|
|McDonald's U.S. Q1 profits decline|
|Americans question Big Bang theory |
|Skin cancer rates 'surge' since 1970s|
Marketing the state brings new business, new jobs and a better quality of life for everyone.
Living in the beautiful Pacific Northwest means enjoying our wonderful surroundings, while remaining aware of the multiple types of natural disaster threats that we face: winter storms, windstorms, floods, landslides, earthquakes, volcanoes and tsunamis.“
Oregon State University's hospitality degree program invests in next-generation leaders.
On Saturday, April 26, more than 1,900 local Comcast employees and their families, friends and community partners will “make change happen” as they volunteer to improve schools and nonprofits in Oregon and Southwest Washington as part of Comcast’s 13th Comcast Cares Day.
NAI Norris, Beggs & Simpson just completed their newly rebranded First Quarter Market Reports. Not only does it feature a brand new format, but the report ensures accuracy due to the annual truing up of their database.
Samuel Hernandez, an Associate at Barran Liebman, is the recipient of a 2014 Oregon State Bar Litigation Section Rising Litigator Award.