PEDA - Pennsylvania Economic Development Association


  • 12/11/2013
  • 2:00 PM - 3:30 PM
  • Online Webinar


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This session is recognized by the Pennsylvania Economic Development Institute and by the EDP certification program of the Northeastern Economic Developers Association (NEDA).


You’ve probably heard the term at economic development conferences.  Maybe you’ve seen the headlines in economic development and financing blogs.  Or maybe you’ve heard that Pennsylvania leads the nation in EB-5 financing projects.  Now you can find out how EB-5 financing can work for you in getting your next big project off the ground.

Here’s what it is and how it works:

Overseen by the U.S. Citizenship & Immigration Services (USCIS), the EB-5 Immigrant Investor Program provides foreign nationals the opportunity to become conditional permanent residents for two years upon making an investment of $500,000 in a qualifying project that will create at least ten new, direct or indirect jobs for U.S. workers.  EB-5 investors must submit an immigration application to the USCIS with a comprehensive business plan that is sufficiently detailed to demonstrate that the investment project meets the job creation requirements of the EB-5 Program.                                                         

Investment Structure

EB-5 Program qualifying investments are typically made through newly formed limited partnerships that make an interest-only loan to a job creating project or business for a five-year term. Information regarding the investment and the job creating enterprise are presented to investors through a private placement offering and to the USCIS as an integral part of each investor immigrant’s application.

Benefits of EB-5 Financing

  •       Source of Capital for government agencies and private businesses at competitive, below-market fixed interest rates; no cost to taxpayers
  •      Creative Financing Vehicle for private lender financing during a period when credit is restricted and economic development programs have been cut
  •       Source of Job Creation in the United States during time when the economy is weak and national unemployment rate is high
  •       Supported by Government Authorities on a state, regional and local level
  •      Promotes Economic Development in economically challenged areas

Since 2001, the State of Pennsylvania has had an approved regional center in partnership with the Philadelphia Industrial Development Corporation and CanAm Enterprises, a leading promoter of EB-5 Investment Funds.  There are a total of 44 counties from Erie down through Allegheny – across to Chester and up to Lackawanna – that currently qualify to participate in the EB-5 Program.

If you are from one of these 44 counties (listed below) you need to know about this burgeoning financing opportunity for your next project.  It’s a niche financing program that only works within the confines of very specific and rigid federal requirements. 

Teaming up with the right partner is key to using this low-cost financing vehicle effectively.  During this webinar, participants will hear from Tom Rosenfeld, CEO and founder of CanAm Enterprises, an organization that has financed nearly $1.3 billion in project loans, and is the exclusive operator of the Pennsylvania Regional Center in partnership with DCED.

The Pennsylvania Department of Community and Economic Development is the sponsoring state agency for the PA EB-5 Regional Center and participants will also hear from Steve Drizos, Director, DCED Private Financing Center.   Steve will outline the process whereby your project can be considered for this unique financing opportunity.

Team PA Foundation is a marketing partner for DCED’s EB-5 immigrant investor financing.  Matt Zieger of Team PA will provide brief closing observations.

Who should attend?

Economic development professionals serving the PA counties listed below.   Additionally, this seminar will be beneficial to board members and CFOs of municipal and authority finance agencies.  Although eligible centers could work to be approved throughout the commonwealth, a list of currently approved counties qualifying for EB-5 financing is available here.

Webinar Presenters

Tom Rosenfeld founded CanAm in 1987, originally focusing his sales efforts in the Canadian market and promoting private and government syndicates pursuant to the Canadian Business Immigrant Investor Program. Since 2002, Mr. Rosenfeld has established CanAm’s presence in the United States, where it has become a leader in promotion of EB-5 Immigrant Investment funds and is now celebrating its 25th year in the business. Through Mr. Rosenfeld’s vision and leadership, CanAm has become the exclusive sponsor of five regional centers designated by the United States Citizenship and Immigration Services (USCIS), including the Commonwealth of Pennsylvania, the City of Philadelphia, the State of Hawaii, the County of Los Angeles and the North Country Region in Plattsburgh, New York. Mr. Rosenfeld serves as a member of the Board of Directors of the Association to Invest in the USA (IIUSA).

Steve Drizos is Director of the DCED office overseeing implementation of EB-5 project financing.  Under Drizos’ guidance over $800 million in EB-5 financing has been placed including the recent $125mm Delta Airlines Marcus Hook Refinery investment, $30mm Bakery Square and $66mm Lionsgate Film production in Pittsburgh and the $13mm PA Silicon in Bucks County.

Mickey Rowley is CanAm’s PA EB-5 Regional Center Development Associate.  From 2003-2011, Rowley served as Pennsylvania’s Deputy Secretary for Tourism, Film and Economic Development Marketing.  Rowley was instrumental in putting together the $66 mm Lionsgate Films financing deal in Allegheny County.   He was DCED’s in house expert in marketing PA projects overseas and led six investment missions to China, Taiwan and Hong Kong.

Matt Zieger is President and CEO of Team PA Foundation.   Team PA Foundation is DCED’s private industry partner in advancing the vibrancy of Pennsylvania’s economy.   Team PA Foundation has taken on the duty of promoting the EB-5 investment opportunity in the Pennsylvania Regional Center.

Attention Certified Providers: This course is approved to provide 1.5 organizational PDUs (Finance) as explained in the Guidelines for Certification of Economic Development Organizations issued by the Pennsylvania Department of Community and Economic Development and in the Institute’s Policies and Procedures.

*Note: We reserve the right to reschedule or cancel this offering. In the event of a cancellation, a refund will be provided to registrants.

System Requirements
PC-based attendees
Required: Windows® 7, Vista, XP or 2003 Server

Macintosh®-based attendees
Required: Mac OS® X 10.5 or newer

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