ROCK ISLAND, ILL. (PRWEB) MAY 09, 2019
Patrick Hogan, CEO and Founder of CMB Regional Centers (CMB), has been involved in the EB-5 investor visa program since 1994, which makes him one of the most experienced EB-5 practitioners in the industry today. In fact, Patrick has been involved in the EB-5 program since the first regional centers were approved by the INS (Immigration and Nationalization Service). CMB Export, LLC was first approved back in 1997 and now CMB operates 16 regional centers with geographic scope in 22 states and Washington D.C. Patrick is recognized as a pioneer in the EB-5 industry as CMB has led the industry with many “firsts”, including the utilization of the EB-5 loan model. CMB has developed many of today’s normal industry practices.
Patrick’s long history in EB-5 started with assisting local government agencies revitalize six former military bases in California closed due to the Base Realignment and Closure Act (BRAC). The military bases in CMB’s regional center geographic scope were George Air Force Base, Norton Air Force Base, Mather Air Force Base, Sacramento Army Depot, McClellan Air Force Base and the realigned March Air Force Base. The original CMB EB-5 investment concept focused on job creation in the communities that were devastated by the loss of the main source of employment in the communities: the military base. These California military base closures were devastating to the surrounding communities in which they resided, which resulted in the loss of tens of thousands of jobs associated with the operation of these former military bases.
To date, CMB under the direction of Patrick and with an incredibly professional staff, has undertaken 68 separate EB-5 partnerships that have helped fund 177 separate job creating projects across the United States. CMB has raised over $2.8 billion in EB-5 investment capital that has been combined with more than $12 billion in public and private funds, which has helped create and restore a very conservative projected 172,000+ new American jobs (over 200,000 if counting direct jobs). The EB-5 program was originally created by the U.S. Congress to stimulate investment and job creation with a focus on high unemployment areas in the United States with no taxpayer’s money used.
Patrick has always instilled the philosophy of putting the CMB EB-5 investor’s goals in front of his own. CMB is proud to say they have followed the original intent of Congress and have focused on truly high unemployment areas and have never gerrymandered a targeted employment area (TEA). CMB has always believed that when an area was not a qualified TEA we would raise EB-5 funds at the $1 million level. To date, CMB has a 100% project approval rate from the USCIS and has been able to help over 4,700 investors and their families receive an I-526 approval, which allows them to apply for a conditional U.S. permanent residency visa at their consulate interview or apply for an adjustment of status if they are already living in the United States on another visa. CMB has been able to help nearly 1,200 EB-5 investors achieve an I-829 approval, which removes the conditions on the visa allows the investor and their family to live in the United States permanently. CMB partnerships have been able to return capital to nearly 1,000 EB-5 investors to date.
CMB was the first regional center to have each of its EB-5 partnerships audited from inception by a third-party national accounting firm, BKD LLP. Not only are each of the CMB EB-5 partnership’s financials audited according to GAAP, BKD also audits the immigration statistics, thereby setting a standard in transparency for the EB-5 industry.
It is with great pride that the whole CMB family congratulates Patrick Hogan on this Lifetime Achievement Award. Patrick has gone above and beyond for every CMB EB-5 investor and their family members to make sure they all have the best shot at receiving a permanent green card to live in the United States. Through Patrick’s leadership, CMB and our EB-5 investor partnerships have made a difference in the U. S. economy with the creation of tens of thousands of U.S. jobs. This is an amazing accomplishment and Patrick will be the first to tell you it is not one person rather a team of very dedicated competent and professional people that have actually achieved this honor.
Patrick Hogan, CEO and Founder of CMB Regional Centers, Awarded the Lifetime Achievement Award During the 2019 IIUSA EB-5 Advocacy Conference in Washington D.C.
Source: HR.com Articles