VICTORVILLE REGIONAL CENTER ORDERED OUT OF EB-5 PROGRAM

Posted on: November 9th, 2010
by Greg Siskind
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This is a first, according to EB5Info.com:

For the first time ever, USCIS has shut down an operational EB5 regional center.

On October 20, the federal government sent a final letter informing the Victorville Regional Center that it was pulling the plug on the regional center’s ability to participate in the EB5 immigrant investor program. This comes after at least two other letters from USCIS to officials at the regional center detailing concerns over job creation methodology Victorville was using to justify its EB5 visa projects.

Approved by USCIS on June 19, 2009, Victorville received from the feds an unprecedented “Notice of Intent to Terminate” in May of this year. Among USCIS’ chief concerns were changes made to the business plan for one of Victorville’s projects, a wastewater treatment facility that would service a nearby Dr. Pepper-Snapple bottling plant.

Other EB5 visa projects in Victorville’s pipeline also caused skepticism among USCIS officials, most notably construction of a power plant for which the city of Victorville defaulted on needed equipment costs and a railroad project that never came to fruition.