- Funding Needed
- $5 (Mio)
- EB5 Funding
- $5 (Mio)
- EB-5 Investors
- Investment Amount
- Job Creation per Investor
- Job Creation (Total)
- Transportation and Warehousing
- General Freight Trucking, Long-Distance, Truckload
- Expected Maturity
- 5 years, with an option to extend for 1 year.
- Does this project have approved I-526's?
- Does this Regional Center have approved I-526's?
- Does this Regional Center have approved I-829's?
- 1210 10th Street, Suite 204, Bellingham, WA 98225
- Last Update: February 04, 2015 01:00 PM
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Green Truck LP
- Developer Name
- Green Truck General Partner, LLC
Between 2010 and 2023, the State of California is phasing in the most restrictive environmental regulations in the country. By 2014, all trucks entering California must be equipped with engines meeting 2007 standards or equivalent. This will mean that older trucks will need to be replaced, or retrofitted, in order to comply with these regulations. With nearly 50% of all the trucks in the U.S. driving through California, these regulatory requirements will effectively become the national standard. PNWERC has identified a significant market demand in the four-state area of Washington, Oregon, Idaho and Montana (the "Pacific Northwest ") to create fleets of compliant trucks ("Green Trucks") which will replace old highly-polluting trucks and facilitate ongoing interstate trade with California, Canada, and within the Pacific Northwest. To comply, Green Trucks will be 2008 model year or newer with engines manufactured on or after 2007. In addition to the regulation-driven truck replacement imperative, Green Trucks are required to meet demands for truckload capacity created by increased regional economic growth; estimated at 14% for the five year period 2010 - 2015.
Effective January 1, 2014 non-compliant trucks will be barred access to California. Other important ports and freight hubs in the Pacific Northwest and Canada will soon follow suit. In response to this perfect storm of opportunity, PNWERC established Green Truck I Limited
Partnership, a new commercial enterprise, (the “Partnership”) that will inject much-needed capital into the trucking industry in the Pacific Northwest. The Partnership is a for-profit limited partnership registered to carry on business in Washington, Idaho, Oregon, and Montana. The Partnership is registered with the federal Department of Transportation to operate as an interstate freight carrier in the Pacific Northwest. Immigrant investors will be the limited partners. Green Truck General Partner, LLC is the general partner. The Partnership is fully registered
with the Department of Transportation and will operate within the general freight trucking industry (NAICS 4841). Truckload demand in the Pacific Northwest is increasing, while supply is being restricted by new rigorous environmental regulations and the inability of local owner-operators to obtain compliant vehicles. To meet this market need, the Partnership intends to raise $5 million from ten limited partners under the purview of the EB-5 immigrant investor program to finance and deploy a fleet of approximately 100 Green Trucks.
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