International law firm Greenberg Traurig  today announced that firm client City of Miami received approval for designation as an EB-5 Regional Center for Foreign Investment under the U.S. Citizenship and Immigration Services immigrant investment visa program.

The City of Miami Regional Center will be one of the few government-owned and managed regional centers in the United States. By utilizing the EB-5 investment program, the city expects to increase foreign investment in Miami, which will translate into the creation of thousands of new jobs and economic growth for both the city and the entire South Florida region.

Greenberg Traurig’s EB-5 Group within the Business Immigration & Compliance practice represented the City of Miami during the 10-month regional center application process.

“We are excited and deeply grateful to USCIS for their tremendous vote of confidence on behalf of The City of Miami,” Miami Mayor Tomas Regalado said. “Our EB-5 Regional Center is a visionary step we took with great care and due diligence to ensure the creation of thousands of jobs and a massive engine for true economic development. This is also a key step in expanding our administration’s goal to position The City of Miami as the economic revitalization hub for all of South Florida and the gateway to the Americas, Europe and Asia”.

The City of Miami Regional Center was approved by the USCIS in a streamlined fashion without any requests for additional evidence from the government.

“This accomplishment, in and of itself, speaks to the City’s creativity, focus and clarity of purpose, as well as to our commitment to create a model that is accountable, transparent and inclusive,” said Miami attorney Mikki Canton, the architect and managing director of the City of Miami’s EB-5 Regional Center and chief advisor and global affairs counsel to the Mayor of Miami. “We hope that the City of Miami EB-5 Regional Center will serve as a model for other visionary governments who wish to establish their wholly government owned, managed and operated regional centers.”

“Greenberg Traurig is proud to have helped the City of Miami achieve this important milestone of securing regional center designation,” said Greenberg Traurig’s Immigration Practice co-chair Laura Reiff. “This increasingly popular program will provide additional financing opportunities for real estate development and infrastructure projects, therefore serving as a catalyst for economic development and job creation within the City of Miami and throughout South Florida.”

The Greenberg Traurig multidisciplinary EB-5 team representing the City of Miami was led by New Jersey shareholder Kate Kalmykov and Immigration Practice co-chair Laura Reiff. The team also included Immigration associates Jennifer Hermansky and Dillon Colucci.