07 Oct ESI Jupiter Technology Park
October 7, 2011
Florida Regional Center’s EB-5 project, ESI Jupiter Technology Park, received an approval by the Town of Jupiter to obtain a loan guarantee. This story was written up by the Palm Beach Post Newspaper:
Jupiter approves loan to help New Zealand business open office here
JUPITER — Approval was given Tuesday night by the council for the town to guarantee a $300,000 loan to Endeavour Strategic Investments Florida LLC.
The loan guarantee comes from a $3 million fund approved by the town in 2006 to attract biotech businesses to north county. If New Zealand-based ESI does not pay its bank loan, Jupiter must repay the money.
ESI, which is required to open its office in Jupiter, is considering an office near Harbourside, a $150 million proposed retail/marina project at the northwest corner of U.S. 1 and Indiantown Road.
Harbourside developers are also using the federal EB-5 program to raise investment money. EB-5 lets foreign nationals and their families gain U.S. citizenship in about two years in exchange for a $500,000 investment. The vote was 4-1 with Vice Mayor Jim Kuretski dissenting.
The ESI Jupiter Technology Park is the Florida Regional Center’s newest EB-5 offering. This facility will house Biotech and Research Companies, which will be situated in Jupiter, Florida, Palm Beach County To learn more about this project or other Florida Regional Center EB-5 offerings, please visit our EB-5 website.