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$13.5 Million EB-5 Partnership Loan repaid to investors in full and on time.
New York, NY (PRWEB) March 04, 2013
CanAm Enterprises, LLC (“CanAm”) is pleased to announce that Philadelphia Authority for Industrial Development (“PAID”) repaid its $13.5 Million EB-5 Partnership Loan to CanAm’s Philadelphia Industrial Development Corporation (“PIDC”) Regional Center. This marks the 16th CanAm project that has been repaid in full and on time, and all investors and their family members received permanent Green Cards as a result of the PAID Project’s job creation.
Established in 1967, PAID is a governmental authority that was created to advance the economic development policies of the City of Philadelphia. PAID developed the former Philadelphia Naval Base into a 6.5 million sq. ft., mixed-use business campus called the Navy Yard. Today, the Navy Yard is home to more than 130 companies and accounts for more than 10,000 jobs in the City of Philadelphia.
“PIDC is proud to have partnered with CanAm Enterprises and the PIDC Regional Center for the past ten years. EB-5 funding has been instrumental in the successful redevelopment of the Navy Yard into the dynamic, sustainable business campus it is today,” said John Grady, President of PIDC.
The EB-5 Immigrant Investor 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 an USCIS-approved project that will generate at least ten, new full-time jobs in the United States.
About CanAm Enterprises, LLC
With over 25 years of experience promoting immigration-linked investments in the United States and Canada, CanAm has a long and established track record. 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. In addition to the PIDC Regional Center in Philadelphia, CanAm exclusively operates four government-affiliated USCIS-designated Regional Centers that are located in the Commonwealth of Pennsylvania, the County of Los Angeles, the State of Hawaii and the North Country Region of Plattsburgh, NY.
For more information, please visit http://www.canamenterprises.com
About the PIDC Regional Center
The PIDC Regional Center is a partnership between Philadelphia Industrial Development Corporation and CanAm Enterprises designed to offer investment opportunities pursuant to the USCIS EB-5 Immigrant Investor Program.
PIDC and CanAm Enterprises use the immigrant investments to capitalize The Welcome Fund. The Welcome Fund provides a source of low-cost capital generally available to commercial, retail, industrial or non-profit firms that create significant job growth, located or planning to locate in Philadelphia.
For more information about The Welcome Fund and PIDC, please visit http://www.pidc-pa.org
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