The City of Everett is taking advantage of a program that attracts foreign investment to create a local food hub.
The EB-5 investment program is a method of obtaining a green card for foreign nationals who invest money in the United States.
To obtain the visa, individuals invest at least $500,000 in a Targeted Employment Area. The investment must create or preserve 10 or more local jobs for Americans in areas with high unemployment.
Path America is the local organization that is responsible for both managing the investment and ensuring the job creation. It is also U.S. Immigration Approved Regional Center.
In Everett, this program has raised $40 million to create the Snohomish County Food Hub. This food hub will anchor a development called Pagoda Village that also includes restaurants, 220 apartment units, and a hotel.
The facility will provide a year round, indoor farmers market, a shared commercial kitchen and processing facilities. It is expected to open in July 2014.