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EB-5 projects and EB-5 regional centers in Pennsylvania

EB-5 MARKET IN PENNSYLVANIA

Pennsylvania is among the top U.S. states in attracting EB-5 investments and foreign investors. From 2010 to 2015, the state of Pennsylvania had EB-5 investments of $820 million that created more than 15,500 American jobs. This translates to a contribution of $1.37 billion to the nation's GDP and $250 million to U.S. tax revenues, according to EB-5 Economic Impact Studies. As of May 2020, there are 64 approved regional centers in Pennsylvania as reported by USCIS.

STATE ECONOMY

Located in the center of the East Coast and home to many globally recognized universities and research institutes, Pennsylvania boasts rich natural resources, abundant cultural heritage, innovative businesses and an educated workforce. With an inviting business climate, many Fortune 500 companies choose Pennsylvania as their headquarters.

Pennsylvania is the world’s 19th largest economy with a GDP larger than Saudi Arabia and Switzerland, according to the state. Key industries in Pennsylvania include natural gas, manufacturing, agribusinesses, life sciences and tourism. The cost of living in Pennsylvania is below the national average.  

POPULATION OF PENNSYLVANIA

Pennsylvania has a population of 12.8 million, with more than 80% identifying themselves as white, 12% as African American and 7% as Hispanic or Latino, according to the U.S. Census Bureau. Ninety percent of the residents over 25 years old have a high school diploma or a higher degree.

IMMIGRATION

Thanks to its appealing business climate and its role as a national leader in education, Pennsylvania has been an attractive state for immigrants, who make up more than 6% of the state’s population, according to the American Immigration Council.

COMPLETED EB-5 PROJECTS IN PENNSYLVANIA

Sponsored by RSR EB-5 Regional Center, the Fraser Centre, located in State College, Pennsylvania, was completed and in full operation thanks to the $15.5 million in EB-5 investments from foreign investors. A total of 521 jobs were created.

With $122 million in EB-5 funding from 244 foreign investors, the Pennsylvania Convention Center completed its long-planned expansion in 2011. The project received the EB-5 funds through CanAm Enterprises regional center, created 3,095 jobs and was completed in 2011. The more-than-doubled size of the renovated convention center enables Philadelphia to compete with neighboring metropolises to host major events and accommodate visitors.

Fairfield Inn & Suites received $4 million in EB-5 funds through Regional Center Holding Group. The project in Philadelphia is a 12-story limited-service hotel and opened in 2018. Its features include a fitness room, a business center, meeting space, guest laundry room, a restaurant and a bar.

Lionsgate received $65.5 million in EB-5 funds from 131 investors through CanAm Enterprises regional center. The project funded a series of motion picture productions in Pennsylvania, created 1,622 jobs and was completed in 2013.

Bakery Square received $30.5 million in EB-5 funds from 61 investors through CanAm Enterprises regional center. It created 736 jobs and was completed in 2013. The project in Pittsburgh is a retail and office development.

AE Polysilicon Corporation received $18 million in EB-5 funds from 36 investors through CanAm Enterprises regional center. It created 681 jobs and was completed in 2010. The project is a polysilicon manufacture facility.

University of Pittsburgh Medical Center received $71 million in EB-5 funds from 142 investors through CanAm Enterprises regional center. It created 2,424 jobs and was completed in 2013. The project is a renovation of a medical center in Pittsburgh.

Valley Forge Convention Center received $40 million in EB-5 funds from 80 investors through CanAm Enterprises regional center. The project created 1,046 jobs and was completed in 2013.

Cambridge-Lee Industries received $35 million in EB-5 funds from 70 investors through CanAm Enterprises regional center. It created 832 jobs and was completed in 2013. The project is an expansion of a copper manufacturing facility.

Allentown City Center received $20 million in EB-5 funds from 40 investors through CanAm Enterprises regional center. It created 688 jobs and was completed in 2015. The project is Allentown is a development of an office.

Philadelphia Navy Yard received $2.5 million in EB-5 funds from five investors through CanAm Enterprises regional center. It created 203 jobs and the loan matured in 2009. The project is a construction of a mixed-use building in the Philadelphia Navy Yard. It later received $2.5 million in EB-5 funds from five investors, created 106 jobs and the loan matured in 2010, and another $13.5 million in EB-5 funds from 27 investors, created 418 jobs with the loan maturing in 2013.  

Starr restaurants, Continental Midtown received $3 million in EB-5 funds from six investors through CanAm Enterprises regional center. It created 176 jobs and was completed in 2005. The project in Philadelphia is a transformation of a popular restaurant into a modern two-level space with a roof deck.

Lannett Company received $4.5 million in EB-5 funds from nine investors through CanAm Enterprises regional center. It created 104 jobs and was completed in 2010. The project in Philadelphia is a development of a manufacturing facility.

Duane Morris received $6 million in EB-5 funding from 12 investors through CanAm Enterprises regional center. It created 187 jobs and was completed in 2010. The project in Philadelphia is a renovation and improvement of a legal office.

Starr Restaurants, Butcher+Singer received $2.5 million in EB-5 funds from five investors through CanAm Enterprises regional center. It created 99 jobs and was completed in 2008. The project in Philadelphia involved turning an old Hollywood chophouse into a trendy steakhouse.

Advanced Sports, Inc. received $1.5 million in EB-5 funds from three investors through CanAm Enterprises regional center. It created 54 jobs and was completed in 2011. The project in Philadelphia is a renovation of a sporting goods manufacturing facility.  

The Day & Zimmermann project received $2.5 million in EB-5 funds from five investors through CanAm Enterprises regional center. It created 92 jobs and was completed in 2013. The project in Philadelphia is a development of an industrial facility.

Temple University Health System received $13 million in EB-5 funds from 26 investors through CanAm Enterprises regional center. It created 616 jobs and was completed in 2006. The project in Philadelphia is a development of the new headquarters for Temple University Health System.

Wordsworth-List Associates received $9 million in EB-5 funds from 18 investors through CanAm Enterprises regional center. It created 232 jobs and was completed in 2011. The project in Philadelphia involved improvements to an office space dedicated to health providers in the city.

Rhoads Industries received $7 million in EB-5 funds from 14 investors through CanAm Enterprises regional center. It created 153 jobs and was completed in 2011. The project is an expansion of Rhoads’ production capacity and centralizing its operations at the Philadelphia Naval Business Center. Rhoads Industries II received $12 million in EB-5 funds from 24 investors for the expansion and renovation of Rhoads’s facilities at the Philadelphia Navy Yard. That project created 655 jobs and was completed in 2017.

 

121 Point Breeze Terminal received $2 million in EB-5 funds from four investors through CanAm Enterprises regional center. It created 44 jobs and was completed in 2011. The project in Philadelphia is a renovation of a fuel storage terminal.

K.P. Grant Enterprises received $2.5 million in EB-5 funds from five investors through CanAm Enterprises regional center. It created 51 jobs and was completed in 2007. The project in Philadelphia involved leasehold improvements.

Agusta Aerospace Corporation received $15 million in EB-5 funds from 30 investors through CanAm Enterprises regional center. It created 460 jobs and the loan matured in 2008. The project in Philadelphia is a construction of a helicopter manufacturing facility. It later received $14.5 million in EB-5 funds from 29 investors, created 487 jobs and the loan matured in 2011.

Aker Philadelphia Shipyard, Inc. received $20 million in EB-5 funds from 40 investors through CanAm Enterprises regional center. It created 455 jobs and was completed in 2010. The project involved leasehold improvements and construction of a facility in the Philadelphia Navy Yard.

Comcast Corporation received $26 million in EB-5 funds from 52 investors through CanAm Enterprises regional center. It created 522 jobs and was completed in 2008. The project in Philadelphia is a construction of new Comcast corporate headquarters.

University City Science Center received $20 million in EB-5 funds from 40 investors through CanAm Enterprises regional center. It created 457 jobs and was completed in 2011. The project is a development of a new, nine-story state of the art laboratory research and office space in downtown Philadelphia.

Philadelphia Post-Acute Partners, LLC received $9 million in EB-5 funds from 18 investors through CanAm Enterprises regional center. It created 184 jobs and was completed in 2008. The project is an expansion of a rehabilitation facility in Philadelphia.

 

Cintas Corporation received $7.5 million in EB-5 funds from 15 investors through CanAm Enterprises regional center. It created 153 jobs and was completed in 2009. The project is a construction of a uniform laundry facility in Philadelphia.

Kimpton Hotel received $6 million in EB-5 funds from 12 investors through CanAm Enterprises regional center. It created 120 jobs and was completed in 2009. The project is a renovation of a boutique hotel in Philadelphia.

Kimpton Hotel Monaco received $45 million in EB-5 funds from 90 investors through CanAm Enterprises regional center. It created 1,387 jobs and was completed in 2012. The project is a renovation of a boutique hotel in Philadelphia.

Southeastern Pennsylvania Transportation Authority (Tranche I) received $35 million in EB-5 funds from 70 investors through CanAm Enterprises regional center. It created 3,825 jobs and was completed in 2014. Southeastern Pennsylvania Transportation Authority (Tranche II) received $75 million in EB-5 funds from 150 investors. It was completed in 2018. Southeastern Pennsylvania Transportation Authority (Tranche III) received $65 million in EB-5 funds from 130 investors. It was completed in 2018. The project in Philadelphia involved the improvement of SEPTA’s fare collection systems.

Courtyard by Marriott - Navy Yard received $16.5 million in EB-5 funds from 33 investors through CanAm Enterprises regional center. It created 411 jobs and was completed in 2014. The project is a development of a hotel in the Philadelphia Navy Yard.

Aker Philadelphia Shipyard, Inc. received $60 million in EB-5 funds from 120 investors through CanAm Enterprises regional center. It created 1,816 jobs and was completed in 2016. The project involved the construction of four oil tankers at the Philadelphia Navy Yard.

Axalta Coating System received $26.5 million in EB-5 funds from 53 investors through CanAm Enterprises regional center. It created 802 jobs and was completed in 2018. The project is a construction and fit-out of a global coating research and development facility in Philadelphia.

PECO LTIIP received $50 million in EB-5 funds from 100 investors through CanAm Enterprises regional center. It created 1,606 jobs and was completed in 2018. The project is an upgrade PECO’s energy distribution infrastructure in Philadelphia.