Idaho Global Investment Center is applying for acceptance as an EB-5 Regional Center approved to distribute $500,000 investments to USCIS-qualifying projects within Eastern Idaho Target Employment Areas (TEA) or "rural areas".
First and foremost, The Idaho Global Investment Center (IGIC) has the best interest in mind of both the immigrant investor looking to obtain a visa, and the businesses looking to receive funding from an immigrant investor. The IGIC was founded by Corey Smith in 2010. While teaching business as an adjunct faculty member at Brigham Young University-Idaho, and working closely with the Eastern Idaho Entrepreneurial Center, Corey saw Eastern Idaho’s lack of capital for business projects with lots of potential for success. He also realized how well the EB-5 Visa program would work with the variety of business projects this region has to offer. In order to better target specific needs and opportunities, the IGIC has targeted 23 contiguous counties in Eastern Idaho. IGIC is widely endorsed by business leaders in the region, as well as by governor C.L. “Butch” Otter. The IGIC fills an important economic void in the region by sponsoring projects that generate sustainable jobs, diversifying the industry-base, and stimulating infrastructure development.
IGIC: Response to Economic Hardship in Eastern Idaho
Eastern Idaho’s economy is a paradox of ongoing underdevelopment yet tremendous opportunity. Intellectual property, entrepreneurial ideas, and natural resources abound, yet economic output and job creation lag. Business and industry leaders in the region have long recognized one primary cause of this economic pain: the lack of investment capital.
That is where the IGIC comes in. IGIC is focused exclusively on counties and segments of counties designated as Target Employment Areas (see figure at right). By channeling a steady stream of investment capital via EB-5 investors into the nine industry focus areas, IGIC provides a strong and positive economic boost throughout the region.
IGIC Model: Unique to Idaho
IGIC meets all USCIS standards—including the 17 guidelines stated in the MMAC letter dated June 12, 2007—while serving a purpose distinct from other EB-5 regional centers in the state.
- Structure
In considering potential projects, IGIC will seek guidance from business professionals in the region, including an advisory committee and directors of the Eastern Idaho Entrepreneurial Center located in Rexburg, Idaho, and projects are selected only after meeting stringent pre-qualification standards. IGIC will secure educational opportunities at accredited institutions for investors and their families–a primary investor motive behind EB-5 investing.
- Preparedness
IGIC has secured all necessary legal documents necessary to begin operation. Drafts have been scrutinized for legal soundness and USCIS concerns and are available for use upon IGIC’s qualification as an operational EB-5 Regional Center. Further, a banking relationship has been established with Zion’s Bancorporation. Finally, IGIC has multiple projects ready for funding, which projects have undergone economic modeling and have been shown to meet all USCIS standards. Relationships are intact to attract a large variety of projects for funding.
- Project Management
IGIC manages projects by subjecting them to thorough pre-selection screening, applying consistent, rigorous standards of oversight, and providing ongoing consultation and support to investment recipients. Finally, IGIC’s management team is exceptionally qualified, vigilant about oversight, and guided by an advisory board with a diverse set of skills and experience. IGIC is also fully compliant with USCIS requirements.
- Financial Viability
IGIC is financially viable and is scalable. Adequate funds for operations and marketing efforts are secure, and a“pay-as-you-go” method of operation gives the IGIC a streamlined cash flow and that allows continued growth in a steady, stable manner.