CanAm Enterprises, LLC (CanAm) is pleased to announce that its Los Angeles County Regional Center’s first project, a $47.5 million loan to a major film studio was repaid in full and on time. This brings the total amount of EB-5 funds repaid by CanAm's projects to more than $455.5 million. The total number of investor families who have received their full $500,000 capital repayment is more than 900.
The $47.5 million loan was used to fund film and television productions in targeted employment area located in the Los Angeles County. A significant amount of these California-based productions are relocating to Canada and other U.S. locations that provide finance incentives including film tax credits. Operating as a financing incentive to keep these “runaway productions” in Los Angeles County, the EB-5 loan helped create and preserve important film production jobs in the region.
All 95 investor families have received permanent residency status as a result of the project’s job creation.