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Date Created: 12/21/15
Will EB-5 Keep the Rays in Tampa Bay? There is no question in anyone’s mind in central Florida that the Tampa Bay Rays need a new stadium. Politicians, residents and, especially, baseball fans agree. The problem they have is how to finance a new stadium. Sports stadiums have traditionally been financed in large part by the public in the form of special bonds and taxes. A second thing that the Tampa area politicians and residents agree upon is that they don’t want any new taxes. The average citizen is tapped financially. Many are out of work and out of money. It’s an election year, so, if the county commissioners vote in favor of a tax, they too could become unemployed. District 4 Commissioner, Rick Cochran, has proposed a financing package that includes a combination of TIF and EB-5 funding to avoid any kind of taxation to build a new stadium. His may be the best idea yet. As EB-5 gains recognition amongst developers, it is only natural to realize it as an ideal way to build new sports stadiums without burdening the local citizenry, some of whom are avid sports fans, and many of whom are not. EB-5 funding was used to help develop the Barclays Center, the home of the NBA’s Nets, and plans are already underway to build a $200 million professional soccer stadium in Las Vegas. EB-5 could be the next home run for the Rays and the next big score for funding professional sport stadiums. To learn more about how to put the EB-5 investment visa program to work for you, contact Dr. Gregory Finkelson at American Corporate Services or call 415-682-2550. To order my book, How to Find Chinese Investors, Agents & Clients for Your EB-5 Projects & Services - A Practical Guide for Regional Centers, Attorneys, Developers and Businessmen, click here. 1
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