On Wednesday, May 24, the held its annual Las Vegas Perspective event, providing discussions on topics surrounding economic development data, analysis and forecasting for Southern Nevada.
Las Vegas hosts nearly 7 million international visitors per year, but beyond that, an increasing number of businesspeople from all over the world are finding Las Vegas a prime place for investment.
Promoting Immigrant Investment
The Immigrant Investment Visa Program, commonly called the EB-5 program, provides a way for people from other countries to get a visa to the United States if they invest in job-creating ventures. In recent years, the Las Vegas area has seen substantial investment from the EB-5 visa program, and the region offers many conduits for investment. To qualify for a visa, immigrant investors must invest at least $500,000 in a “targeted employment area,” and that investment must result in the creation of 10 permanent jobs.
Southern Nevada’s Foreign Trade Zone
The Las Vegas Global Economic Alliance has special permission from the US Department of Commerce to operate a Foreign Trade Zone in Southern Nevada to ease the import and export of goods to Nevada.
In a Foreign Trade Zone, a business can:
- Import finished goods for sale or consumption in the US
- Import finished or partly finished goods for reconfiguration to sell domestically or internationally
- Importing components or materials for manufacturing & marketing in the United States or internationally
- Using the foreign trade zone, you can import some components of your products, assemble the finished product in the US, and distribute them all over the world
Download the Zone Schedule