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EB-5 TEA Zones: City of Perris, The Perfect Location

Richard Dozier, Riverside County Economic Development Agency Principal Foreign Trade Specialist

Michael Mcdermott, COO Perris Community Economic Development Corporation

City of Perris, City Hall

The City of Perris offers EB-5 investors and developers numerous advantages which let foreign investors capitalize on business opportunities.

‘It’s one of those cities that have available land at a competitive price. And they’re in the pathway of growth. They’re not all built out. There’s room for growth.”
— Richard Dozier, Riverside County Economic Development
PERRIS, CA, USA, December 28, 2015 /EINPresswire.com/ -- The City of Perris offers EB-5 investors and developers numerous advantages. Riverside County Economic Development Agency Principal Foreign Trade Specialist, Richard Dozier, appeared on the latest episode of “PerrisScope” to talk about the many options EB-5 investors and developers will find in the more than 100 year old city of fertile land, abundant resources and able workers.
The more than 100-year-old City of Perris shines like a blue light special for EB-5 investors and developers. The Riverside County city holds several special economic designations which let foreign investors capitalize on business opportunities for half the usual money.
The EB-5 program is administered by the U.S. Citizenship and Immigration Service. The program makes foreign entrepreneurs (and their spouses and unmarried children under 21) eligible to apply for a green card (permanent residence) if they invest at least $1 million in a commercial enterprise in the U.S. The investment must create at least 10 permanent full-time jobs for American workers for a minimum of two years.
In an appearance on the latest episode of “PerrisScope,” Riverside County Economic Development Agency Principal Foreign Trade Specialist, Richard Dozier, said Perris is very fortunate in that it can offer EB-5 investors a big incentive that other cities can’t offer.
Dozier said Perris is one big Target Employment Area (TEA) – a designation which can save EB-5 investors big bucks.
The TEA designation lowers the threshold for an EB-5 investor to be eligible for the EB-5 visa to only $500,000 – half the usual requirement.
Dozier said Perris also has other incentives to offer EB-5 investors.
“They see they can get a lot more house, a lot more land for their money,” he said. “They see they can get an education at four different colleges for their children.”
Dozier explained the chance of obtaining a quality education for their children is often an overriding consideration for the foreign investor.
Aside from family concerns, Dozier added Perris today also offers EB-5 investors what the city has promoted since its inception a century ago -- fertile land, abundant resources and able workers.
‘It’s one of those cities that have available land at a competitive price. And they’re in the pathway of growth,” Dozier said. “They’re not all built out. There’s room for growth.”
But if Perris isn’t the right fit for an EB-5 investor, Dozier pointed out other Riverside County cities also have the TEA designation.
“We’re one of the largest counties in the state and we’re growing. If you’re investing in front of that growth, that’s a good investment,” Dozier said.
“Many of those new investors from around the world want to own something. They want to own land, they want to own a building, a hotel, and they want equity investments,” he said. “So, when they look at relative pricing of communities west of us, they see that we really are an excellent opportunity and that we will probably be growing. “
Dozier added he helps investors find in Riverside County what they need to excel.
“We want them to be successful. We want them to have successful projects because it helps us,” he said. “It provides jobs. It provides foreign direct investment.”
BYLINE: KJ THOMAS

Michael McDermott
Perris Community Economic Development Corporation
951-943-6100 x277
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