ISLAND OF HAWAII, HI-Hawaiian Islands Regional Center, an authorized regional center of the United States Citizenship and Immigration ServicesEB-5 Immigrant Investor Pilot Program have raised $18.5 million from foreign investors to construct Regency Care Center, Hilo here. The objective of the HIRC is to raise money from foreign investors for projects that will create new jobs for Americans.

According to J David Wallace, SVP of HIRC, the 100-bed skilled-nursing facility has been in-the-works since 2007, when Regency Pacific purchased the property with plans to build the care center. A certificate of need was approved for it, but after the economic recession hit, banks were unwilling to lend for construction, slowing down the progress made. As a result, alternative methods were sought to fund the project, resulting in the partnership of HIRC and the EB-5 program.

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