SAN FRANCISO, CA, USA - ON December 19, 2016, World Trade Center San Francisco's CEO, Michael Mattox, met with the Chairman of the Board of Awesome Group, Howard Hu in Seattle, WA to discuss future EB-5 projects and the fate of the EB-5 program.
In 2001, the current chairman of Awesome Group, Howard Hu, created the first company of the organization, Shanghai Qianjin Yinsi Entry-Exit Service Limited Company, in Shanghai, China. The company is one of the few of immigration agencies to receive an immigration license from the Exit and Entry Department of People Republic of China. Awesome started as immigration agency for Australia and eventually diversified into immigration of Canada, Europe, and the United States. Currently, the organization has subsidiaries all over the world.
Awesome has worked with WTCSF in bringing foreign direct investment (FDI) into the United States utilizing the EB-5 program for several years. They have brought in millions of dollars to fund infrastructure projects including the Seattle Waterfront Improvement Project in Seattle, WA and IDEA School Project in Texas. The U.S. Congress created the EB-5 Immigrant Investor Pilot Program in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. Since 2008, EB-5 is responsible for over $15.4 billion of foreign direct investment into the U.S. economy.
Recently, U.S. Congress has proposed to reform the program. Currently, the program is extended to April 28, 2017, until further decisions are made. Although there might be changes to the program, Mr. Mattox is optimistic about the renewal for the program. Both parties agree to cooperate for future EB-5 projects.
"We are happy to work with China immigration agencies. They are a great help in financing massive infrastructural projects as well as creating thousands of jobs in the United States. " Mike Mattox said.
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