Aug 19, 2009

VICTORVILLE CITY COUNCIL APPROVES INVESTOR VISA PROGRAM TO SPUR JOB GROWTH AND INVESTMENT

Program to make 3,000 EB-5 visas available for qualified foreign investors

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By: Collette Hanna

FOR IMMEDIATE RELEASE Victorville, Calif. – July 22, 2009 – In a move to bolster job growth and investment, the Victorville City Council approved an investor visa program that will make 3,000 EB-5 visas available to qualified foreign investors. Funds from the investments will initially be used for a series of projects at Southern California Logistics Airport (SCLA).  “Job growth is the driving force behind this program,” said Keith Metzler, City of Victorville, director of economic development. “In addition to strengthening Victorville’s economic and physical infrastructure, the projects funded by these investments will bring a healthy number of new jobs to the City.”  The program, which will report directly to U.S. Citizenship and Immigration Services (USCIS), will create private and limited partnerships to complete a series of projects at SCLA, including a wastewater treatment facility, electrical generation, intermodal rail improvements and various infrastructure improvements.  The program was approved by the City Council on Tuesday, July 21 and is expected to generate $25 million within the first year, with minimum investments of $500,000 per partnership.  About Victorville The City of Victorville is located approximately 90 miles northeast of Los Angeles and 35 miles north of San Bernardino with convenient access to major interstates, railways, trucking routes and international airports, making it one of Southern California’s most significant logistics hubs. The City has a growing residential population of over 100,000.  Victorville is a pro-business community offering many incentives, which has helped to attract corporate relocations from notable companies including, Newell Rubbermaid, GE Transportation, Goodyear Tire & Rubber Company, M&M/Mars and Dr Pepper Snapple Group.