U.S. Federal Reserve Bank of New York Forum Showcases EB-5 Capital as Significant Investment Catalyst

Christopher Schoepflin, Western New York Regional Director , Empire State Development (left); William Gresser, President, EB-5 New York State Regional Center (center); and Tony Davis, Community and Economic Development Director, Federal Reserve Bank of New York.

Christopher Schoepflin, Western New York Regional Director , Empire State Development (left); William Gresser, President, EB-5 New York State Regional Center (center); and Tony Davis, Community and Economic Development Director, Federal Reserve Bank of New York.

EB-5 New York State Regional Center has used the EB-5 Program to finance several job-creating projects, including Buffalo Niagara Medical Campus:  Gates Vascular Institute, Multi-Modal Transportation Structure, and Health Sciences Charter School.  Those projects created hundreds of new jobs and put qualified foreign investors on the path to earn U.S. permanent residency for themselves and their families, per the EB-5 program.

Forum highlight

William Gresser, President, EB-5 New York State Regional Center

  • EB-5 is flexible
  • Our objective is to utilize EB-5 capital where it can create jobs
  • We are very careful to work with developers who are certain they are going to create jobs.
  • We spend a considerable amount of time and energy making sure we are in compliance with U.S. Securities laws
  • We spend a lot of time checking background of investors and the source of their funds
  • A lot of EB-5 transactions are traditional real estate transactions; there are other types of transactions that can be done, but we have to have certainty on job creation.
  • Every project we’ve ever done, we’ve raised the capital.

Tony Davis, Community and Economic Development Director, Federal Reserve Bank of New York

  • EB-5 is spurring economic development in Western New York and other parts of the country.
Paul Dyster, Mayor of Niagara Falls

Paul Dyster, Mayor of Niagara Falls

Niagara Falls Mayor Paul Dyster (above)

  • If you are familiar with what is going on in downtown Buffalo, there are a lot of parallels in Niagara Falls.  
  • Upgrade of Robert Moses Parkway is a transformational project, offering new opportunities for (Niagara River) waterfront access