27 Sep Mayor Announces Sustainable Development Citizen Panel

MAYOR LEFFINGWELL ANNOUNCES SUSTAINABLE DEVELOPMENT CITIZEN PANEL TO ATTRACT INTERNATIONAL INVESTMENT

AUSTIN − Mayor Lee Leffingwell announced today the creation of a Citizen Panel on Sustainable Development to look into attracting foreign investment for creating green jobs through sustainable projects.

The goal of the Citizen Panel will be to help facilitate Austin as the first region in the United States where EB-5 foreign investment dollars will be primarily focused on clean energy, affordable housing and green jobs.

The Citizen Panel will be co-chaired by State Representative Eddie Rodriguez and Mayor Leffingwell, with membership representing the business, environmental, technology, and housing sectors.

“We are always looking for new and innovative ways to sustainably create jobs in Austin and EB-5 is a great vehicle to do just that,” said Mayor Leffingwell. “I am looking forward to working with this stellar group of people who will boost Austin’s economy even further.”

The Citizen Panel will study options for creating a City of Austin sponsored EB-5 Regional Center or working with an existing EB-5 Regional Center to find appropriate local investment opportunities for qualified foreign nationals. They will identify criteria for eligible green and affordable projects consistent with Austin’s vision and values, and recommend such projects to the EB-5 Regional Center.

“I’m pleased at the quick progress we are making to promote an EB-5 Regional Center in the Austin area,” said Representative Eddie Rodriguez. “This will be like no other incentive to promote the types of growth and development that meet our local values.

The objective is to expand our diverse economy while creating green jobs and providing more affordable housing.”

A similar model in Texas, the EB-5 Regional Center in Dallas, has created roughly 2,000 jobs and brought in more than $100 million in investments to the Dallas/Fort Worth area over the past two years.

The Group will meet for the first time in the next several weeks.

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About EB-5 Regional Investment Centers:
Under the federal EB-5 immigration program, qualified foreign nationals who invest $500,000 or $1,000,000 (depending on the target area) in the United States and create at least ten new, sustainable jobs in the U.S. may be eligible to receive permanent residency status for the investor and their immediate family.  The EB-5 program provides for creation of “regional centers,” which are entities that facilitate investment by foreign nationals in qualifying projects or businesses in the U.S. under this program. 

Members of Austin’s Working Group on Sustainable Development:

Lee Leffingwell: Co-Chair

Mayor, City of Austin

Eddie Rodriguez: Co-Chair

State Representative, District 51

Jim Marston

V.P. of Energy Program, Director Texas Regional Office, Environmental Defense Fund

Chuck Herring

Herring-Irwin LLP

Marco Muñoz

Assistant Director, IC2

Mitch Jacobson

Co-Director, The Austin Technology Clean Energy Incubator at UT

Carlos R. Treviño

Senior Counsel, Jackson Walker, L.L.P

Richard Jung

Partner, Jung Wakefield

Adriana Cruz

V.P. Global Corporate Recruitment, Greater Austin Chamber of Commerce

Andy Martinez

President & CEO, Greater Austin Hispanic Chamber of Commerce

Ali Khataw

Chair, Greater Austin Asian Chamber of Commerce

President & CEO, Encotech Engineering Consultants

Ashton Cumberbatch, Jr.

Chair, Capitol City African American Chamber of Commerce

V.P., Advocacy & Community Relations, Seton Healthcare Network

Susan Wise

Power Angels, LLC

Kelly Weiss

Executive Director, Austin Habitat for Humanity

Walter Moreau

Executive Director, Foundation Communities