Economy
1:43 pm
Thu May 1, 2014

Michigan looks to attract foreign investment through immigrants

Scott Woosley says the EB-5 Center will have offices in Lansing and Detroit.
Scott Woosley says the EB-5 Center will have offices in Lansing and Detroit.
Credit Courtesy - http://www.michigan.gov/mshda

Earlier this year in his State of the State address, Governor Rick Snyder emphasized  his administration’s desire to increase immigration to Michigan. Recently, state officials got news that could move the state closer to that goal. Last month, federal customs officials approved the state’s application to launch an initiative that could attract more foreign investment and workers to the state.

Michigan is only the second state in the nation to get approval for an ‘EB-5 Regional Center.’ The center will try to connect foreign investors and workers with potential development projects around the state. Supporters say that could provide an economic spark as well as more immigration opportunities.

Scott Woosley is executive director of MSHDA, the Michigan State Housing Development Authority, and is president and CEO of the Michigan Community Development Corporation. He tells Current State that the EB-5 Center will bring in additional capital via foreign investment in Michigan.

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