MCALLEN, Texas – The city of McAllen is partnering with the city of Houston in hopes of enhancing investment opportunities in the Rio Grande Valley.
The McAllen EB-5 Regional Center Hosting a ceremony at the Cambria Hotel making the partnership official. The EB-5 program was created by congress in 1990 and allows foreign investors who create new job opportunities in the U.S. a pathway to permanent residency for them and their families.
The Cambria Hotel is the first project to be completed under the McAllen EB-5 program.
Roy Rodriguez, President EB-5 McAllen Regional Center, “This is the only project we’ve done and if we want to keep our EB-5 alive we need projects. By coupling our efforts with Houston, which obviously is a very large city, it gives us an opportunity to reach hopefully a lot more people that would be interested in this program.”
To qualify for the program foreign investors must create at least 10 full time jobs.