LAREDO, Texas, Dec. 4, 2013 /PRNewswire/ -- The City of Laredo and Civitas Capital Group today announced the official launch of the Civitas Laredo Regional Center (CLRC), a new public-private tool in attracting foreign investment dollars to the community of Laredo.
In a ceremonial signing and media event, the public-private partnership was consummated in a symbolic document that restates the commitment both have towards the economic development of Laredo as the City's official EB-5 regional center.
"Seeking outside investors for our community has been a long standing goal for the City of Laredo. It is critical to maintain the vitality of our economy and ensure that our citizens have diverse employment opportunities," stated Laredo City Manager Carlos Villarreal. "We are ideally situated at the southernmost end of IH-35, connecting NAFTA and Eagle Ford shale crossroads between major markets in Canada, United States and Mexico. This makes Laredo a very compelling place to invest and conduct business."
The CLRC matches EB-5 capital to job-creating projects in the Laredo area, providing a catalyst for economic growth in the community. Congress created the EB-5 Regional Center Pilot Program in 1992, facilitating residency and citizenship applications for foreign nationals willing to invest significant capital in the United States and create permanent, high-quality jobs in their locality.
"To have this official federal designation reinforces our confidence for our economic future," stated Laredo Mayor Raul G. Salinas. "Our vision is that the City together with its partner Civitas, a pioneer in public-private EB-5 partnerships, will provide the underlying investment for Laredo to progress towards a brighter future."
Civitas' Chief Executive Officer Dan Healy noted, "This launch is the result of many conversations and a concerted effort between Civitas and the City of Laredo to provide global investors with the highest quality EB-5 investment opportunities that exist today. Civitas' strong reputation and relationships with top-tier developers, coupled with the fact that Laredo is one of the fastest-growing cities in the U.S., opens the door for a number of exciting investment opportunities."
The Laredo City Council officially approved a Regional Cooperation Agreement with Civitas for a Laredo Regional Center on November 19, 2012, and has been working with Civitas to gain federal approval. In the interim, Civitas has been learning more about Laredo's economic development priorities and business climate.
Through its EB-5 Funds division, Civitas is currently the manager of several Regional Centers in the United States, which have funded or are in the process of funding hundreds of millions of dollars in EB-5 capital and creating thousands of jobs.
About Laredo's economy:
- Financial rating: Moody's Aa2 / Fitch AA / Standard & Poor's AA
- Population: 236,000
- #1 inland port in the United States
- 8th fastest growing city in the U.S. since the recession
- Ranked #10 U.S. small city for jobs
- 7.0% unemployment rate
- Only MSA in an Eagle Ford Shale production county
About the Civitas Laredo Regional Center
The Civitas Laredo Regional Center (CLRC) is the official EB-5 regional center of the City of Laredo. In a unique public-private partnership, the City collaborates with Civitas Capital Group to provide the highest quality EB-5 investment opportunities to investors around the world.
About Civitas Capital Group
Civitas Capital Group is an independent specialty asset management and financial services firm with operating divisions focused on Alternative Investments, EB-5 Funds and Wealth Management. Civitas evaluates the truth that lies at the core of every investment. We dig deeper, using a rigorous process to evaluate investment opportunities from every angle.
SOURCE Civitas Capital Group