Dallas City Council member Ron Natinsky announces regional center

by PegNews wire

Will provide a huge boost for economic development.

DALLAS — The City of Dallas is launching a new program that will provide a huge boost for economic development in the city.

Formation of the City of Dallas Regional Center (CDRC.) is part of a federal initiative which allocates 3,000 visas annually to foreign nationals who invest $1 million and create full-time jobs for U.S. citizens through designated regional center programs. This program is sponsored by the city and is exclusively dedicated to projects and businesses within the Dallas city limits.

“This provides us with a powerful incentive in our efforts to attract foreign investment,” said Councilmember Ron Natinsky, chairman of the Economic Development Committee. “The program is structured specifically to attract high net worth investors to the CDRC; and focus their capital on projects that generate real permanent jobs and growth for Dallas.”

Examples of possible investments are transit-oriented development, instrument manufacturing, distribution and logistics, entertainment venues, hospitality, healthcare and medical research, and “green” development.

“The CDRC is designed to open a new source of capital that can be aligned with Dallas’ Public Private Partnership program to fuel the city’s economic growth strategy, with targets areas of opportunity including southern Dallas and the downtown central business district,” said Natinsky.

Capital may be invested as debt or equity but is entirely at risk for the duration of the investment. Each investment partnership features independent third party underwriting and administration which is provided by the CDRC Manager, not the city of Dallas or the developer/sponsor of the underlying CDRC investments. All investors must pass rigorous financial and personal background checks.

Natinsky said the timing couldn’t be better.

“The city has been working for a number of years to build personal relationships and trust with foreign businessmen and government officials,” he said. “And this effort positions us well to capitalize on the opportunities presented by the CDRC program.”

Source: City of Dallas

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