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Wed April 9, 2014
Feds Approve Center To Encourage Immigrant Investment In Michigan
Federal officials have given Michigan the green light to run a statewide center meant to encourage investment from immigrants.
As The Michigan Public Radio Network’s Jake Neher reports, it will be only the second state-run center of its kind in the country.
This is one piece of Governor Rick Snyder’s strategy to attract more immigrants to Michigan. His administration expects the center to bring in at least 30 million dollars and create 600 new jobs every year.
Joe Borgstrom will serve as the center’s director. He says it will provide visas for people who invest at least a million dollars in the state and create at least ten jobs.
“So this is about, not only attracting foreign investment to the state, but also helping to create jobs for Michiganders,” he says.
The center will operate under a federal visa program called EB-5. The program has come under attack in the past for funding several failed projects. Some critics also say it essentially puts visas up for sale for immigrants who can afford them.