Why New Orleans Offers a Unique Opportunity for EB-5 Investors

As I am writing this, it has been nearly 6 years since the devastation of Hurricane Katrina. I am happy to say that New Orleans has miraculously regained much of its former life, and the regional economy is on the rise. The effort to rebuild the city has been an extraordinary undertaking, not only by the U.S. government, but also with help from corporations, entrepreneurs, business developers and investors-from America and abroad. But there is an immense amount of work still to be done, and New Orleans is still very much a city in recovery. Further investment is profoundly needed.

After the destruction, the city government of New Orleans knew that, to fully rebuild, every conceivable kind of assistance was needed-including foreign investment. That's why, in May of 2006, the newly founded Mayor's Office of Economic Development began the process of applying to USCIS for regional center status. An important part of this process was finding a private company that-acting in partnership with the city government-could perform all of the operational and financial aspects of New Orleans' EB-5 investment activities: selecting projects, submitting them to USCIS for approval, working with foreign investors, allocating their funds to the various business ventures and helping to ensure that investors' EB-5 petitions were approved. At the end of a competitive bidding process, the city selected a company named NobleOutReach, and awarded it a 30-year exclusive contract.

One of the greatest draws of the New Orleans Regional Center is the chance to participate in rebuilding a major city, yielding virtually endless possibilities for exciting new businesses and new industries. No other regional center offers the limitless possibilities of rebuilding a city from the ground up, which is why the NobleOutReach regional center in New Orleans is such a unique opportunity.

In the wake of Hurricane Katrina, New Orleans has attracted some of the most innovative entrepreneurs and developers. The Los Angeles Times has said, "...New Orleans was not defined by its spirit of innovation in the decades preceding Hurricane Katrina. But the flood that changed everything two years ago has changed that too. Today, by accident and by necessity, this city is awash in ideas..." For the EB-5 investor, the climate in New Orleans offers a unique opportunity not only to get a Green Card, but also contribute to the rebirth of this quintessential American city.

The EB-5 investor is obviously not alone in contributing money to the reconstruction effort. The U.S. government has pumped billions of dollars into New Orleans, modernizing the city's infrastructure and ensuring that all new building is done to the highest possible standards.

The trajectory of the city's wealth and prosperity descended to the lowest possible point when the floodwaters breached the levees. Today, the investor is poised to take advantage of real estate at low market prices, regulatory policies that encourage business development, and a swiftly rebounding economy. Consider that already by March of 2007:
• 80% of the businesses shut down by the hurricane had reopened.
• Roughly 1,250 restaurants-of the 1,800 that operated prior to Katrina-had reopened.
• Sales tax collections had returned to 78% of what they were prior to Katrina
• Between 230,000 and 240,000 of the city's former residents had returned.
• The city had granted nearly 360 new business licenses.

Investing in the New Orleans Regional Center means making a meaningful and much-needed contribution to victims of the hurricane and, more broadly, to the United States. But assisting in the reconstruction effort is more than a contribution a to good cause. NobleOutReach presents the investor with a chance to help a city in need, while simultaneously benefiting from the rising values of a recovering economy. New Orleans lies at the intersection of humanitarianism and for-profit ventures, where opportunities for financially successful investment coincide with efforts to help people rebuild their city, and their lives. The road to recovery has been, and continues to be, a long uphill climb. For investors who wish to benefit from the upward momentum of New Orleans' economy, now is a critical time.

If you are ready to speak with an Immigration Attorney about your immigration goals, contact the Law Offices of Vaughan de Kirby at 415-221-2345. We can also arrange a consultation with our counsel in Beijing. For email inquires please contact Lily@deKirby.net.