EB-5

Politics & Government
12:05 pm
Mon June 9, 2014

Visas for sale: Not everyone’s a fan of Gov. Snyder’s EB-5 center

Credit User: Nic Redhead / Flickr

Silverio Lopez and his son Antonio run their Tequila Cabresto brand out of their house in Southwest Detroit. They say about 60 restaurants in and around the city carry their brand of small batch, craft tequila. They also own a rim and tire shop just down the street. In total, they employ close to 10 people.

Silverio emigrated from Mexico in the early '80s. He says there were many reasons for settling down and starting a business in Detroit.

“The properties were cheap, the rent was cheaper, plus we had family here already,” he said through Antonio, who translated from Spanish.

The Lopez family exemplifies the kind of people Gov. Rick Snyder hopes to attract to Michigan – people with an entrepreneurial spirit who can create jobs.

But some critics of the governor’s new EB-5 visa program say it’s a slap in the face to immigrants like Silverio Lopez, who came here with nothing.

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Economy
5:05 pm
Mon June 2, 2014

Michigan creates EB-5 program to attract job-creating immigrants

Detroit's first Latina council member, Raquel-Castaneda-Lopez, speaks at a press event earlier this year announcing Michigan’s intention to establish an “EB-5 regional center.”
Credit screen shot from LiveStream

It's called the EB-5 program. It's based on the employment-based 5th preference visa program, which allows foreign investors and their families to get their green cards – get permanent residency – by investing in an enterprise that creates at least 10 direct or indirect jobs in Michigan.

Private companies have been using the EB-5 program to bring immigrants into the country, but Michigan has become only the second state – after Vermont – to create a state EB-5 program. It will be staffed by the Michigan State Housing Development Authority.

Scott Woosley is the MSHDA Executive Director.

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