tag:blogger.com,1999:blog-29127973.post7858430607128181168..comments2023-10-27T03:16:03.213-04:00Comments on Burgh Diaspora: EB-5 MilwaukeeJim Russellhttp://www.blogger.com/profile/13078184665418828961noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-29127973.post-90688278436715277752014-03-31T04:00:54.525-04:002014-03-31T04:00:54.525-04:00The impact of the EB-5 program on Milwaukee has be...The impact of the EB-5 program on Milwaukee has been quite extraordinary in the years since this post. I have been told that the investment in the Milwaukee area has been over $350 million to date. My understanding is that the Milwaukee area programs have had greater success than Chicago in attracting investment through this program. Many of the project funded have been real estate developments. These have included the Global Water Center (the focus for Milwaukee's water technology initiative), and five projects totaling over $70 million at the former Pabst Brewery. The Pabst Brewery may have no comparable focus area for Chinese investment of this type in the United States (most of the EB-5 investments are one-off projects in scattered locations). Interestingly, the EB-5 is now generating additional Chinese investment (non-visa motivated) such as a $6 million equity investment by a Chinese individual in an apartment development (also at the Pabst site).<br /><br />The quotes regarding trying to expand Milwaukee's ties with Asia are a little misleading. Although I don't have data for other states to compare, my understanding is that over 400 Milwaukee area companies have operations in China - some of these (such as for Johnson Controls with over 23 plants) are enormous. This connectedness to China is actual one of the underappreciated legacies of the historical and continuing manufacturing companies in Southeast WI. The manufacturing companies that exist today are companies that have already adapted to globalization and which for the most part have long ago implemented a China strategy. I don't have the data to prove it, but I would not be surprised if Milwaukee was better connected to China than cities such as Portland and Austin.D Holmeshttps://www.blogger.com/profile/16674579088214663729noreply@blogger.com