Extensive Economic Development, PhoenixMart Moves Forward with EB-5 Approvals
by: PhoenixMart
After announcing its project, PhoenixMart, in the fourth quarter of 2011, AZ Sourcing and Central Arizona Regional Center have just announced receiving its approval of their EB-5 investments, a federal economic stimulant program. This official approval now allows PhoenixMart to break ground and begin construction in the fourth quarter of 2013 with a scheduled grand opening in the latter part of 2014.
“This project has required careful planning and timing from all angles from conception to realization. With the approval of our EB-5 investments, we can now proceed forward at full speed,” states Jeremy Schoenfelder, Executive Vice President of AZ Sourcing.Located in the City of Casa Grande, Arizona, PhoenixMart, covering more than 550 acres of commercial and residential development is the first regional sourcing center in the Western Hemisphere. This unique commerce design provides tenants with a singular distribution point that connects worldwide buyers to the greatest selection of goods from all 50 U.S. states complimented by NAFTA and other major international brands. During the construction and upon completion of PhoenixMart, this comprehensive economic development is estimated to generate more than 7,000 new jobs for the state of Arizona.
“The City of Casa Grande has been working with PhoenixMart to assure this project can move forward as soon as the EB-5 issues were resolved,” states Casa Grande Mayor Bob Jackson. “The estimated 3000 direct jobs will have a tremendous economic boost not only to our community and Pinal County but for the entire state. We have been working with several economic development groups throughout the state to create an international presence for Arizona and this project is a home run. It provides an international gateway that the entire state will benefit from.”
EB-5 is also known as The Immigrant Investor Program. The initiative was created by the Immigration Act of 1990 for the purpose of stimulating the United States economy through job creation and capital investment by foreign investors. These investments are made directly to United States Citizenship and Immigration Services (USCIS) approved regional centers that assume the responsibility of creating jobs.
There are numerous commercial developments successfully utilizing this economic and business model. Other sites include Dragon Mart in Dubai and Yiwu City in China.
About PhoenixMart
PhoenixMart is a first-class venue for manufacturers and distributors to showcase their products to the world. Ideally located in the southwestern United States, PhoenixMart offers easy access to planes, ports, highways, and rails connecting multiple markets with remarkable efficiency. Services include a state-of-the-art Business Program, a collective marketing campaign, and a global eCommerce platform. With these tools, PhoenixMart provides solutions for long-term, smart and sustainable growth. For more information, visit our website at www.phoenixmart.com or call (480) 525-8138.
Here's the Phoenix Mart website: Phoenix Mart Website
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Channel 3 Phoenix Weather Station had a half hour program to introduce us to Arizona (and Casa Grande) dust storm information.
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