Business & Economy
Overseas investors with money promised green cards for jobs
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By COURTNEY CULEY
Capital News Service
LANSING – Foreign investors willing to put up a large lump sum can receive a green card under a federal program that Gov. Rick Snyder wants to use to bring capital to Michigan. The EB-5 Visa Program provides 10,000 immigrant visas each year to investors willing to make at least a $500,000 investment and create ten jobs, said Phil Santer, capital services associate for the Michigan Economic Development Corporation. At the beginning of his term, Snyder launched The Global Michigan Initiative to attract international entrepreneurs to Michigan. “The goal is to increase availability of capital in Michigan,” Santer said. Snyder hopes to do that through the EB-5 Visa Program.