Naggar gave no other details about a possible new area hotel, other than saying discussions are in an early phase. Naggar, who lives in New York City, is confident EB-5 investments will create Dayton-area jobs.
Canada in mid-February cancelled its own investor-visa program, which will make U.S. EB-5s more valuable, Behar said.
“We’re going to do a lot of projects here,” Behar told listeners in a standing-room-only meeting room. He predicted that a year from Friday, this EB-5 region will be “the most dynamic in the state of Ohio.”
Naggar’s EB-5 region, which includes parts of Northern Kentucky and Southeastern Indiana, will take not less than $3 million investments. Favored projects will include hotels, restaurants, medical-focused businesses, manufacturing and more.
Eighty percent of investors come from China, often because investors there want to ensure their children are educated in the U.S., Behar said. Small investment returns are expected, but an initial EB-5 investment can often lead to further American investments, said Behar and Brady Ware principals. In many cases, their net worth is beyond $10 million, Behar said.