EB-5 Funds Stimulate Economic Growth, Creating High Paying Jobs For Murrieta

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Al Rattan, Co-Founder and Co-Manager of USA Continental Regional Center, explains how they were able to utilize the EB-5 program to develop a distressed properly in Murrieta, CA and attract RadNet Medical Imaging. RadNet represents the largest owner of outpatient imaging centers in the US with about 250 facilities in 7 states throughout the nation. Their long term lease agreement with the Continental Medical Center will create over fifty high paying positions with an annual economic impact to the region of over ten million dollars.

Al Rattan, Co-Founder and Co-Manager of USA Continental Regional Center

“Our job is to create economic growth, jobs, and invest capital into the US economy”

Since their designation as a qualified Regional Center by the US Citizenship and Immigration Service in June of 2011, the USA Continental Regional Center (CRC) has been creating local jobs by matching foreign investors with American companies. “Our job is to create economic growth, jobs, and invest capital into the US economy,” reported Al Rattan. “Unlike other regional centers, CRC is truly a development group; we have an extensive background in banking, finance, and government relations.” A unique and appealing draw is the amount of capitol CRC has in a time when banks are struggling.

According to Charlene Kussner, Project Manager for Continental East Development and the USA Continental Regional Center, “Continental East Development comes on to an undervalued asset at the onset and invests the dollars and the manpower to rehab that investment and get it to above fair market value.” By way of this approach, CED owns outright all the properties involved in their negotiations between local businesses and foreign investors. This rare quality—coupled with the EB-5 program—allows for investors to act as bridge financiers, and provides them with a very secure investment.
    One of Continental Regional Center’s most recent projects has been the long-term negotiation of a RadNet medical imaging facility in Murrieta. Norman Hames, Vice President and Chief Operating Officer of RadNet, shared: “Continental Regional Center came in as the owners, they bought the building, improved it, and in my opinion turned it into a Grade-A building, which is exactly what we wanted…they’ve been very good and very easy to work with, and I think it’s going to be a good start for us in this particular area.” However, it’s not only RadNet and CRC that benefits from this partnership. According to Hames, RadNet will be adding a significant number of employees over the next 12 to 18 months. These new jobs have been described as high-tech, high-paying, career-type jobs, which means people will be making their homes in the surrounding area, and investing into the local economy. “It’ll be a big boost for the city in terms of its overall socioeconomic position in the community,” claimed Hames.
    On top of that, the services RadNet provides will greatly bolster the image the city is striving to establish. According to Mayor Doug McAllister, RadNet’s expansion into Murrieta is “extremely important and indicative of all that we’re doing here in Murrieta in regard to the job creation…so when you have businesses like RadNet come in, it’s just part of what we are focused on doing very clearly, and we’re happy to have them here.” Alongside job creation, local residents will benefit from RadNet’s presence in that they won’t have to travel to other communities in order to utilize high-tech medical services such as PET scans, CAT scans, and MRIs.
    USA Continental Regional Center attributes a great deal of their success to the EB-5 Program, and realizes how difficult it would be for both international investors and local businesses and residents to better their lives. “The EB-5 program…provides opportunity not only for foreign nationals for a new and better life, it provides immediate stimulation and job growth to local communities,” claimed Kussner. She went on to divulge that it is Continental Regional Center, and thus Continental East Development’s responsibility “to make the bridge between overseas investors and the local communities…we really want to serve both entities well, and provide both a good investment, and a good product”

For More Information Contact:
Charlene Kussner
Continental East Development
Project Manager
ckussner (at) continentaldev (dot)com

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Dwight Cromie

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