Tahoe-Reno Industrial Center Hoping to Attract EB-5 Investors
The Reno Tahoe International Council held an event recently specifically intended to assess foreign investor interest in the Reno-Tahoe area and, specifically the massive Tahoe-Reno Industrial Center project. Council Director Jeni Temen, herself an immigrant from Europe, recognizes the EB-5 investment visa program as ideal for what will become the largest industrial park in the USA.
The TRIC occupies 107,000 acres just a few mile east of Reno with 12 miles of frontage on I-80, the main east-west route across northern Nevada. The multi-use nonresidential site features 30,000 acres available for industrial development. Nearly 130 companies have already developed and have 11,000,000 square feet of space in use. Making the site even more attractive for investment is that it will be the home of the new Tesla Gigafactory which, in addition to producing 500,000 vehicles by 2020, will also generate all of its own power requirements. The Tesla plan will dominate the larger site with 10,000,000 square feet of its own and employing approximately 6,500 employees.
Although Ms. Temen did not address how and where EB-5 investments will be used, the TRIC project appears to be one that will be very appealing to investors.
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