Editor’s note: According to the Vermont Agency of Commerce and Community Development, the EB-5 program of the U.S. Citizenship and Immigration Services is designed to encourage foreign business investment in the U.S. with the goal of creating American jobs. The Vermont EB-5 Regional Center is the only center in the nation that is entirely state-operated. The I-829 is a petition for a non-U.S. citizen entrepreneur residing in the U.S. to remove conditions on his or her residency.
In federal fiscal year 2014, the Vermont EB-5 Regional Center ranked in the top 10 among more than 500 regional centers nationwide for I-829 approvals. I-829 approvals for permanent residency are granted to investors whose investments lead to the successful creation of at least 10 jobs.
Peter Joseph, of the Association to Invest in the USA (IIUSA) executive director remarked, “It is an honor for IIUSA to celebrate the success of 17 Regional Center members with I-829 approvals over the last year, including the State of Vermont Regional Center, at our 2014 EB-5 Market Exchange Conference.
The I-829 approval milestone means a regional center has delivered on using global vision to create jobs in its communities. The large Vermont delegation at the event was yet another demonstration of the importance to the state of EB-5 as an economic development tool and the active roles its stakeholders take in the industry and IIUSA.
Vermont EB-5 Regional Center Executive Director Brent Raymond stated: “During federal fiscal year 2014, Vermont’s 116 I-829 approvals equate to a minimum of 1,160 jobs created, placing the Regional