On October 30, 2008, the New York City Regional Center (NYCRC) was approved as a regional center by the United States Citizenship and Immigration Services (USCIS), a division of Homeland Security. The NYCRC’s mission is to work with government entities and private developers to help fund large scale, public/private real estate projects that create jobs in areas of high unemployment. Since its approval, the New York City Regional Center has become an important component in New York City’s economic development strategy by providing hundreds of millions of dollars of EB-5 funding for critical job creating initiatives.

To date, over 1,300 individuals have received conditional green cards through NYCRC projects. “The issuance of the 1,300th conditional green card is a major milestone for the NYCRC and for our investors throughout the world. It is the culmination of four years of hard work,” said New York City Regional Center Managing Principal Paul Levinsohn. “The NYCRC is helping to spur job creation and economic development throughout New York City while also assisting families begin a new life in America. We look forward to continuing our track record of well-structured, secure investment offerings,” added NYCRC Managing Principal George L. Olsen.

New York City Regional Center has provided EB-5 funding to many important economic initiatives in the city including projects at the Brooklyn Navy Yard, New York City’s largest industrial park, as well as funding to assist with the expansion of Steiner Studios, the city’s largest film and television production facility. The NYCRC is also providing funding for key components of the Atlantic Yards project as well as the redevelopment of Downtown Brooklyn’s central business district. EB-5 funding will also be used to assist with the redevelopment of the George Washington Bridge Bus Station and the continuing efforts to revitalize New York City’s East River waterfront.