CMB is a grouping of EB-5 Regional Centers that has its beginning in the CMB Export EB-5 Regional Center.
The CMB Export EB-5 Regional Center (CMB) was authorized on August 15, 1997 and subsequently reaffirmed and geographically expanded April 2007, June 2010, May 2012 and July 2013. The formation of CMB (an acronym for “California Military Bases” or “Closed Military Bases”), as originally constituted, was intended to assist California communities which have experienced the devastating economic effects of military base closures due to the determinations of the Federal Base Realignment and Closure Commission (“BRAC”). The CMB Export geographic scope originally outlined in its authorization included the counties of San Bernardino and Riverside in Southern California and the county of Sacramento in Northern California. The business or operational focus of the original regional center designation was the rehabilitation to civilian use of the closed or realigned military bases and to provide jobs in the counties in which they reside.
CMB Summit, LLC was formed in the State of Ohio on December 12, 2008; designated by USCIS as an EB-5 Regional Center covering Summit County Ohio on January 22, 2009; and amended to cover the entire state of Ohio on July 25, 2011. While the CMB Summit Regional Center was approved by USCIS in January 2009, the history of CMB Summit began long before that date. CMB Summit began with the early development of the new World Headquarters for the Goodyear Tire and Rubber Company and various other projects across Ohio acting as a lender to Industrial Reality Group (IRG) and others. On July 30, 2013, CMB Summit received its Regional Center approval (I-924) and soon after, specific project approvals (I-526) for CMB Infrastructure Investment Group X. The $104 million EB-5 investment was combined with public and private funds for a total of $322 million in overall construction spending. CMB’s time-tested business approach was utilized in Ohio to construct a new Goodyear World Headquarters, renovate the existing structures of the former Goodyear Headquarters properties, and renovate the former Hoover Vacuum Company Headquarters within the State of Ohio.