Northern New England’s immigrant investment playing field just became more crowded. A new EB-5 regional center, based in Campton, N.H., was approved Monday by U.S. Citizenship and Immigration Services.
The Invest New Hampshire Regional Center aims to raise $10.5 million in $500,000 increments from 21 investors. The money will fund expansions at the Owl’s Nest Resort and Golf Club in the White Mountains, according to USCIS documentation published on its website.
The center’s manager, Kelly Wieser, is the daughter of Owl’s Nest developer and regional center principal Thomas Mullen. A January report in New Hampshire Business Review quoted Mullen as saying the group plans to expand their EB-5 investment portfolio beyond Owl’s Nest. Representatives from Invest New Hampshire could not be reached before publication time for this article.
Invest New Hampshire is the fourth such regional center approved to operate in New Hampshire. The New Hampshire EB-5 Regional Center was created to raise $35 million to turn Ragged Mountain Resort into a four-season destination, much like plans for the EB-5-funded Jay Peak and Burke Mountain expansions in Vermont.
“You’ve heard of the term, imitation is the sincerest form of flattery?” Bill Stenger said. “This applies.”
The Jay Peak co-owner is the public face of a combined $425 million set of EB-5 projects promising thousands of jobs in the Northeast Kingdom. In addition to Jay Peak and Burke Mountain, Stenger and his business partner, Ariel Quiros, are working to bring a Korean biotech firm to Newport and develop a city block and waterfront lot in the town.
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If you are considering the EB-5 Investor Visa Program, contact The Nunez Firm to schedule a consultation. Managing attorney Jay Nunez will personally meet with you to help you better understand the process and whether the EB-5 program is a viable option for you.
The contents and information provided in this post should in no way be considered an endorsement or recommendation by The Nunez Firm, P.C. in favor of the investment opportunities or regional centers mentioned herein. The contents are strictly for informational purposes. As with any investment, investors considering the EB-5 program should consult a financial advisor and perform the necessary due diligence.