News

Senator Baucus Announces Major Win for Montana Jobs, New Investment Center

Senator Says New Regional Trade Designation Will Boost Jobs, Investment into Montana

Montana’s senior U.S. Senator Max Baucus announced a new program that will attract foreign investment to Montana and will clear the way for millions of dollars of private investment capital into Montana. This week, the USCIS approved the application for Montana’s first and only Employment Based Regional Center. The new Northern Rockies Regional Center will:

· Create good-paying jobs in Montana

· Inject investment capital (non-taxpayer dollars) into Montana projects

· Improve Montana’s marketability on a global scale

"This is a big win for good-paying jobs in Montana. This is the first regional center in the state of its kind and will open the door to more foreign investment into Montana business ventures without having to use taxpayer dollars. We’re facing the kind of economic challenges that require us to think outside the box and this project does that," said Baucus, Chairman of the Finance Committee. "Montanans are innovative and deserve every opportunity to maximize their business potential on a global scale. I’m so pleased that Montana can now reap the benefits of this designation with good-paying jobs on the horizon."

Baucus staff worked closely with Global Development Services, Inc (GDS) , the company that manages the Montana World Trade Center for the University of Montana, to help them earn the designation, which will make the new Northern Rockies Regional Center eligible to receive investor capital from overseas. There are currently 80 Employment-Based Foreign Investment Regional Centers nationwide. In other communities, the designation has paved the way for hundreds of new jobs. In Seattle, the EB-5 Regional Center has attracted $360 million in investment leading to at least 3600 jobs. Northern Rockies Regional Center founder Arnie Sherman anticipates at least 10 new jobs for every $1 million dollars in investment.

"Senator Baucus truly understands the enormous potential to create sustainable, full time jobs for Montanans. He was instrumental in helping Montana gain access to this opportunity that will clear the way foreign private investment capital into our state," said Arnie Sherman, President of GDS who also serves as Executive Director of the Montana World Trade Center.

Baucus has invited the Northern Rockies Regional Center to participate in the upcoming Asia-Pacific Economic Cooperation (APEC) meetings in Big Sky in May. As Chairman of the Finance Committee,

Baucus fought to bring the meetings to Montana, which will feature cabinet-level representatives from 21 countries, along with hundreds of other officials to discuss ways to deepen the trade and economic relationships among some of Montana’s most important trading partners.

Additional background:

* On Monday, April 11, 2011, USCIS designated the Northern Rockies Regional Center, LLC as a Regional Center. Northern Rockies Regional Center, LLC is the first U.S.-government sanctioned EB-5 Regional Center in Montana.

* Northern Rockies Regional Center, LLC plans to raise $66 million over the next 3 years to invest in high-quality, job creating enterprises in Montana that will create over 790 jobs for the state.

* Northern Rockies Regional Center, LLC is approved to manage qualified EB-5 capital investments in mixed-use real estate development and clean/green/sustainable energy technologies, projects like the Old Saw Mill District in Missoula, and Zinc Air Battery Storage Enterprise in Kalispell.

* Northern Rockies Regional Center, LLC was formed by CVM Funds, LLC, a well-respected venture fund in the Rocky Mountains that has developed over 60 companies in the Rocky Mountain Region, and Global Development Services, Inc., the company that among other international ventures has managed and operated the Montana World Trade Center for the University of Montana since 1998.

Contact: Kate Downen 406-224-5056 or Kathy Weber 406-657-5915

***

Northern Rockies Regional Center, LLC Receives Regional Center Designation from U.S. Citizenship and Immigration Services

On Monday, April 11, 2011, U.S. Citizenship and Immigration Services (USCIS) designated the Northern Rockies Regional Center, LLC (NRRC) as a Government Approved vehicle for foreign investment capital. This designation makes NRRC the first U.S. government sanctioned EB-5 Regional Center in Montana.

An EB-5 Regional Center is defined as an economic unit which is involved with the promotion of economic growth, improved regional productivity, job creation, and increased domestic capital investment, and all Regional Centers must receive approval from USCIS. With the designation, NRRC is approved to manage qualified EB-5 capital investments in mixed-use real estate development and clean/green/sustainable energy technologies. NRRC plans to raise $66 million over the next 4 years to invest in high-quality, job creating enterprises in Montana. In addition to receiving a work visa, qualified foreign investors have the added benefit of priority visa consideration for their entire family.

Northern Rockies Regional Center, LLC received tremendous support from Senator Baucus, whose staff worked closely with the NRRC to help earn the designation. During development, NRRC collaborated extensively with Governor Schweitzer and the staff of the Governor’s Office of Economic Development to identify promising models for investment portfolio development. “We are truly excited about the opportunity to raise and invest funds in quality Montana job creation ventures”, said Edward Wetherbee, Co-Managing Partner of NRRC and President of CVM Funds.

Missoula’s Best Place Project and other business improvement and development districts around the state were consulted about investment and job creation opportunities, and NRRC has modeled its investment strategy to align closely with the plans of many of the economic development projects and initiatives around Montana.

“We are ready to tap into our global network of entrepreneurs to identify investors for our projects”, said Arnie Sherman, Co-Managing Partner of NRRC and Executive Director of the Montana World Trade Center. Northern Rockies Regional Center, LLC was formed by CVM Funds, LLC, a well-respected venture fund in the Rocky Mountains whose principals have invested in over 60 companies in the Rocky Mountain Region, and Global Development Services, Inc., the company that, among other international ventures, has managed and operated the Montana World Trade Center for the University of Montana since 1998.
For more info, contact: Arnie Sherman – 406.544.7788 | Edward Wetherbee – 303.859.3835

Sorry, we couldn't find any posts. Please try a different search.

Leave a Comment

You must be logged in to post a comment.