MAEDC Announces New Partnership to Allow EB-5 Investing in MAEDC Region
Moberly, MO – Moberly Area Economic Development Corporation (MAEDC) shares a recent announcement from US Citizenship and Immigration Services (USCIS) regarding Ozark Mountains Regional Center. Ozark Mountains Regional Center partnered with MAEDC in 2015 to apply for an expansion of its service territory into the MAEDC region. Recently that expansion was approved, as part of the new service territory Ozark Mountains Regional Center will now be known as Mid-Continent Regional Center.
This partnership between MAEDC and Mid-Continent Regional Center (MCRC) began with the goal of facilitating EB-5 investment for a project in Fayette, MO. As part of the announcement, USCIS gave its approval for the project in Fayette. The project will be seeking 1.5 million dollars in EB-5 funding. EB-5 allows foreign direct investment into US based development projects. The new center designation will allow for future EB-5 investment in the MAEDC Region.
“This has been a long time coming, and we are excited to see the results of those efforts.” Corey Mehaffy, President of MAEDC, “EB-5 funding will open up new opportunities for developers in our region and will help more projects access needed capital. This will be a valuable asset for marketing our communities for new investment.”
MAEDC wishes to express its gratitude to MCRC, the City of Fayette, and Rick Alexander of Fayette. Their leadership and contributions to the project have helped make this announcement possible.
Tam Lonergan, Chairman of MCRC added, “We are pleased to be working on this project in Fayette. It is a great investment opportunity and will be an asset for the community. I appreciate the work MAEDC has put into this project and commend them on their economic development efforts. We look forward to finding the needed investors to bring this project to completion.”
Moberly Area Economic Development Corporation works to promote financial investment in Randolph, Monroe and Howard Counties. For more information on the organization, please visit their website at http://www.moberly-edc.com