Former US Ambassador to China Gary Locke Among Featured Speakers
SAN FRANCISCO, October 21, 2014 - Highlighting California’s key role in foreign direct investment through the EB-5 Immigration Investor program, San Francisco-based Golden Gate Global (www.3GFund.com) is taking a lead role in this week’s Fourth Annual EB-5 Market Exchange Conference, the largest such gathering in history. Produced by the IIUSA (The Association to Invest in the USA), the Conference will bring together attendees from all over the world network, to do business, share best practices and to hear from government officials and industry experts, including Gary Locke, Former U.S. Ambassador to China. The Conference runs October 22 – 24 at the Westin St. Francis Hotel on Union Square.
“San Francisco has benefited greatly from EB-5 capital investment,” said Ginny Fang, CEO of Golden Gate Global. “The San Francisco Shipyard is a key example of how the EB-5 program can build jobs, homes and a stronger regional economy that benefits everyone.”
When completed, the 775-acre San Francisco Shipyard development in the City of San Francisco will create 12,000 new homes, a regional retail center, offices and more than 300 acres of parks. EB-5 funding, secured through Fang’s efforts at Golden Gate Global, are a key part of the project’s success.
Success such as that exhibited by San Francisco Shipyard EB-5 program is exactly the point of this year’s conference: demonstration of cross-sector support from diverse interests that support the EB-5 Regional Center Program. Conference organizers and attendees hope that legislators in Washington, DC will be listening. A key initiative of this year’s Conference is the drive for Congress to re-authorize and improve the EB-5 Regional Center Program before September 30, 2015.
“The EB-5 program has grown into a multi-billion dollar industry. To date, EB-5 capital formation registers in the billions of dollars with tens of thousands of jobs created and over a billion dollars in tax revenue generated – all to the benefit of the US economy and all at no cost to the US tax payer,” said Fang. “EB-5 is the definition of smart public-private partnerships; it is achieving its policy goals of attracting foreign direct investment and creating jobs in the United States.”
Based on data from USCIS, IIUSA reports that EB-5 investments in FY2012 alone contributed over $3.39 billion to U.S. gross domestic product, supported over 42,000 American jobs, and generated over $712 million in federal/state/local tax revenue. The current record-breaking investor demand ensures an even greater contribution reported in 2013-2014.
A full schedule of this week’s conference events and speakers can be found online at:
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