Philadelphia, PA (PRWEB) February 10, 2012
CanAm Enterprises LLC, (“CanAm”), the exclusive promoter of the Philadelphia Industrial Development Corporation (“PIDC”) Regional Center, is pleased to announce that its EB-5 immigrant investors in Agusta Aerospace Corporation (“Agusta”) and 121 Point Breeze Terminal recently received repayment on the project loans. The $500,000 principal was returned to each investor in full and on time. These projects mark a total of 12 repayments for CanAm, further establishing it as one of the leading providers of EB-5 immigrant investor funds.
Agusta is the U.S.-based subsidiary of AgustaWestland, N.V. (“AgustaWestland”), one of the world’s largest helicopter manufacturers. The $15 million EB-5 loan helped fund the expansion of its facilities in Philadelphia to manufacture a new twin engine, 12-seat helicopter to meet its contracts to the federal government, law enforcement and emergency response agencies. The project created over 460 jobs in the target unemployment area of Philadelphia, 160 more than the required 300 jobs for the EB-5 investors in the project. All 30 investors have already received their unconditional resident status through their investment in Agusta.
A $2 million EB-5 loan to ARFA, a multi-branded distributor of fuel from Southeastern Pennsylvania to Central New Jersey, was used to acquire and bring the former Amoco Point Breeze Terminal into operation so that ARFA could increase its distribution operations and gain competitive advantage over other fuel distributors in the Greater Philadelphia market. This project successfully created more than 42 jobs for U.S. citizens, enabling all of its EB-5 investors to obtain permanent green cards.
“Foreign nationals who invest in our projects are successful business people who wish to live in the U.S. The EB-5 Program offers an opportunity for foreign investors to obtain legal residency through investment in a job-creating project in the United States,” said CanAm Enterprises CEO Tom Rosenfeld. “Both projects resulted in the approval of 137 permanent green cards for the investors and their families, and created over 500 much-needed jobs in a very challenging economic environment.”
The EB-5 Immigrant Investment Program is administered by the United States Citizenship and Immigration Services (USCIS). The program provides opportunities for qualified foreign nationals to achieve permanent legal residency in the U.S. through an investment in a USCIS-approved project that will generate at least ten full-time jobs in the United States.
About CanAm Enterprises, LLC
With 25 years of experience promoting immigration-linked investment funds in the U.S. and Canada, CanAm Enterprises (“CanAm”) has a long and established track record for coordinating and funding international immigrant investor programs. Based on a reputation of credibility and trust, CanAm has financed nearly 40 project loans and raised over $1.3 billion in EB-5 investment funds to date. CanAm exclusively operates five USCIS-designated Regional Centers, located in the City of Philadelphia, the Commonwealth of Pennsylvania, the County of Los Angeles, the State of Hawaii and the North Country Region in Plattsburgh, NY. For more information, please visit our website at: http://www.canamenterprises.com.