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 published by the Palm Beach Post Newspaper:
Jupiter approves loan to help New Zealand business open office hereThe ESI Jupiter Technology Park will be home to a 50,000 sq foot facility that will house companies from around the world. These companies will be in the fields of biotechnology and research, working in areas which include non-invasive diabetes detection, clinical diagnostic technology, water efficiency systems, anti-cancer compounds and advanced manufacturing and ICT systems. To learn more about investing in this project or other Florida Regional Center EB-5 offerings, please visit our EB-5 website.
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.
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