DUBAI, United Arab Emirates and NEW YORK, Jan. 14, 2019 /PRNewswire/ -- CanAm Enterprises ("CanAm") announces that its 37th EB-5 partnership has repaid recently. The two-phase Gulfport Marine Terminal project in Staten Island, NY has repaid its first tranche of EB-5 loan funding in full and on time. The 37th repayment further establishes CanAm Enterprises as the industry leader with over $1 billion in EB-5 capital repayments.
The $40 million EB-5 loan through CanAm's New York Metropolitan Regional Center helped fund the first phase of construction of the Gulfport Marine Terminal. Subsequent phases of the construction project are well underway with nearly 2 million square feet of industrial logistics center space completed.
The construction of the Gulfport Marine Terminal has created 1,671 jobs within the geographic boundaries of the New York Metropolitan Regional Center area, which exceeds the EB-5 investment requirements of 10 jobs per investor by far. The legal conditions for EB-5 visas have been fully met, meaning all 80 investors qualify for receiving permanent residency in the United States.
"I am genuinely proud of the Gulfport Marine Terminal project – it shows that EB-5 is a great source of funding for industrial facilities that positively impact the surrounding areas, creating many direct and indirect jobs," said Tom Rosenfeld, CanAm's President and CEO.
The Gulfport Marine Terminal is being built on a 674-acre tract of vacant land located on the Arthur Kill waterfront in Staten Island, Richmond County, New York. The terminal features a 135-acre area, which is ready for development of a full-service port facility, and a 193-acre on-site logistics center. The first two buildings in the logistics center are completed and open. A one million square-foot building occupied by Ikea opened in August 2018. The second, an 850,000 square foot robotics-enhanced fulfillment center for Amazon opened in September 2018.
Overseen by the USCIS, the Immigrant Investor Program provides qualified foreign investors with the opportunity to earn conditional visas in return for investing $500,000 in development projects located in high-unemployment areas.
About CanAm Enterprises
With three decades of experience promoting immigration-linked investments in the United States and Canada, CanAm Enterprises has a long and established track record and has financed 55 project loans and raised more than $2.7 billion in EB-5 investments. CanAm Enterprises exclusively operates several USCIS-designated regional centers in The United States.
SOURCE CanAm Enterprises