The Commonwealth of Pennsylvania Department of Community and Economic Development (DCED), the official the economic development agency of Pennsylvania, and CanAm Enterprises, LLC, prepared and submitted an application to have 43 counties in Pennsylvania designated as a regional center under the U.S. immigrant investor program. On April 13, 2007, the regional center was formally designated by the United States Citizenship and Immigration Services (USCIS) to participate in the Immigrant Investor Pilot Program under Section 203(b)(5) of the Immigration and Nationality Act.
As of September 8, 2008, we have been approved to work in an additional 20 counties, 43 in total, in Pennsylvania.
The Commonwealth of Pennsylvania Department of Community and Economic Development (DCED), the official economic development agency of Pennsylvania, and CanAm Enterprises, LLC, are pleased to present the Pennsylvania Regional Center, which was formally designed by the United States Citizenship and Immigration Services April 13, 2007. The Pennsylvania Regional Center offers investment opportunities pursuant to the EBS Investor Visa Program, which provides for the issuance of “conditional” or temporary green cards to qualifying investors and their families who invest a minimum of US $1 million (US $500,000 in a designated target area) in businesses that create ten (10) full-time permanent job for U.S. workers. If the investment achieves the job creation requirement of the Program, “unconditional” or permanent green cards will be issued after two years.
DCED'S Financing Programs
DCED offers more than 50 loan and grant programs for businesses, over 35 programs for community development and over 25 programs for site revitalization. Although specific terms and conditions vary most loan programs offer subordinated financing and below-market interest rates, or tax incentives that are intended to encourage investment in Pennsylvania. Use of loan funds is determined by the circumstances and may include real estate acquisition, construction, or machinery/equipment purchase. DCED loan funds are usually leveraged with private debt and equity.
An important advantage of the Pennsylvania Regional Center is that its investments can meet the Program’s job creation requirement not only directly, but also indirectly. Coupled with the Pennsylvania Regional Center’s undertaking that all investments will be located in approved targeted employment area(s) that qualify for the minimum US$500,000 investment, investors in the Pennsylvania Regional Center’s projects will maximize the investment opportunities of the Program.
Qualifying investment opportunities offered by the Pennsylvania Regional Center will be recommended and monitored by DCED and will be made through separate limited partnerships. The general partner of each limited partnership will be CanAm G.P., LLC or an affiliate. Limited partners will be actively involved in the policy-making activities of their investment partnership. A capital investment will be in the amount of US $539,000 representing the minimum $500,000 capital required by the Program plus issue expenses of US $39,000. The capital investment must be made in cash and no partnerships finances will be available.
Interested investors will receive comprehensive offering materials that will describe in detail the Program, the Pennsylvania Regional Center and one or more proposed qualifying investments recommended by DCED and the general partner. Investors who approved of a particular qualifying investment will be required to execute a subscription agreement to a designated Pennsylvania Regional Center limited partnership and to deposit a capital investment in the amount of US$539,000 with the escrow agent. Priority will be given to qualifying investors as determined by the general partner in order that their respective capital investment is received. Capital investments will be returned in the event of over-subscription. Investment amounts will be released to the designated limited partnership upon the approval of an investor’s immigration application and to the investor in the event an investor’s immigration application is denied.
No offer to sell any security is made by this website. Offerings will be made pursuant to exemptions from registration requirements set out in applicable securities laws. This website is a summary only of certain important matters relating to offerings and is qualified in its entirety by the detailed information in the offering materials. Prospective investors should take note of the risk factors described therein.
