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Now on to our topic...(Source: the Idaho Statesman, Boise)
Jun. 13–BEIJING — twenty would-be Chinese immigrants committed to investing $10 million and creating 200 jobs in Idaho.
The $10 million is just part of $60 million the Idaho State Regional Center and its Chinese partner Westlink have lined up from as many as 120 investors who want to bring their families to the U.S. and invest in Idaho.
The announcement by Idaho Department of Commerce officials capped a successful week of meetings between Gov. Butch Otter, Chinese officials, investors and Idaho companies.
“It met and exceeded our expectations,” said Don Dietrich, director of the Idaho Department of Commerce.
Since Otter touched down in Shanghai a week ago, the Regional Center and its Chinese partners have been conducting a series of seminars across China seeking Chinese willing to invest at least $500,000 in Idaho in exchange for a green card for them and their families.
Under the federal EB-5 immigration program, the Regional Center must be able to create 10 jobs over two years for each investment, which it plans to do by investing in an existing gold mine near Placerville in the Boise Basin near Idaho City.
For a week, 250 immigrant consultants and thousands of their employees have spread out across China extolling the virtues of the investment, including an insurance plan that can protect it.
Otter spoke at several seminars, including one Friday urging Chinese investment in Idaho. It will be weeks before the Regional Center has all of its investors in place — but its weeklong efforts paid off.
“Our company believes that the Idaho State Regional Center is the best, most innovative EB-5 program for Chinese investors,” Sun Lu of Westlink said in a press release.
OTTER PITCHES FOR IDAHO BUSINESSES
Otter also met Friday with Chinese Vice Minister of Commerce Yi Xiao Jhun, who said China is careful about approving direct-sales businesses after a series of frauds and even organized-crime involvement.
Otter, who met with Yi on behalf of Idaho Falls-based Melaleuca, which sells health and wellness products via direct sales, said he understands. He said that’s why Idaho puts its faith in companies it knows and that meet high standards, like Melaleuca and another company on the trade mission, Sandpoint-based Oxyfresh.
Yi agreed to consider licenses to expand Melaleuca’s operation in China then turned to Melaleuca International Vice President Paul Haacke: “Congratulations,” he said. “You’ve got the governor’s personal credibility behind you.”
Earlier in the day, Otter made a pitch to China wheat officials to invest in silos adjacent to the Port of Lewiston.
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