Florida EB-5 Regional Center and Spoleto Brazil Are Bringing a $25 Million Expansion of Spoleto Restaurant Brand to the State of Florida
The Florida EB-5 Regional Center, is authorized to work directly with foreign investors to create United States Citizenship and Immigration Services (USCIS) approved projects that comply with the EB-5 Foreign Investment Capital guidelines.
The EB-5 model was created in 1990 by Congress and developed under USCIS, a division of the United States Department of Homeland Security, to stimulate the U.S. economy through job creation and capital investment by foreign investors. Under the EB-5 program, foreign entrepreneurs and their immediate family have a pathway to citizenship by making an investment in a commercial enterprise in the U.S, by creating a minimum of 10 local jobs for each $500,000 of investment.
The Florida EB-5 Regional Center was established in 2010, and since that time has created $65 million EB-5 foreign investment capital opportunities. A partnership between the Florida EB-5 Regional Center and Spoleto USA, a US subsidiary, of one of the largest restaurant groups in Brazil, is the first of its kind to provide EB-5 investment opportunities within the Florida restaurant industry. Spoleto, is one of Grupo Trigo's brands, represents the largest Italian cuisine chain in Brazil with 391 locations across the country.
Florida EB-5 Regional Center's new Spoleto USA project is providing an initial $25 million in investment opportunities to foreign investors. The project will provide business expansion and economic growth in the Orlando, Florida area with future offerings for up to 100 locations within the State of Florida. Food industry firms based in the U.S were the source of approximately $24.7 million in EB-5 direct food industry investment in fiscal year 2013. Nationally, EB-5 investment has contributed $3.58 billion to U.S. gross domestic product and supported more than 41,000 new jobs.
"We work diligently to develop substantial investment growth opportunities across the State of Florida, and the Florida EB-5 Regional Center is the go-to resource for the EB-5 program in the state," says Dennis Slater, CEO of the Florida EB-5 Regional Center.
The Spoleto USA project is a dynamic opportunity for foreign investors looking to invest in a business name they are familiar with in their home country with the ability to gain permanent residency within the U.S. but in particular for investors from Brazil, who are already familiar with the Spoleto brand and with Florida's economy, as the state is the top tourist destination for those visiting the U.S.
"As a result of our partnership with the Florida EB-5 Regional Center, the Spoleto brand and its investors are positioned for significant growth across the State of Florida," saysJohn Velasquez, President of Spoleto USA.
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