Franklin County and Livermore Falls have been granted a special federal designation that will help the region attract foreign investors, Department of Economic and Community Development Commissioner George Gervais announced today.
Known as “EB-5,” the designation gives foreign nations a path to a green card and residency in the U.S. if they make an investment in a business located in Greater Franklin County. The minimum investment is $500,000 and the investment must create 10 jobs directly or indirectly.
Christopher Farmer, USA Lifestyles President and Saddleback General Manager, said at a State House press conference that new investments will be allowed in ski lodges and resorts, testing laboratories, wood products manufacturing, restaurants, those who lease nonresidential buildings, museums and construction.
“Growing up in Franklin County, I watched hundreds of good quality manufacturing jobs disappear from the area, leaving the state for foreign lands,” Farmer said. “This is a unique opportunity to bring investment dollars back from those areas to Franklin County and create good paying long-term jobs.”
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