Why is Cheri opposed to job creation in her own district? U.S. Rep. Cheri Bustos is attacking a federal program being used to finance a key downtown redevelopment project in Rockford. That project? It’s nothing less than the redevelopment of the Ziock Building, a 13-story former factory at 416 S. Main St. The building will become a hotel and conference center and will be adjacent to a new depot served by Amtrak trains to Chicago. The rail service is to start in late 2015. The hotel project is linked to the separate redevelopment of the old Ingersoll factory on the east bank of the Rock River into a huge, indoor sports center. Gary Gorman, CEO of Gorman & Co., which is redeveloping the Ziock Building, also defends the program. The firm is using the EB-5 program as a construction and mortgage debt source in connection with Paragon Partners, a Chinese firm that markets EB-5 to would-be investors in that country. “It angers me when people take potshots at this program,” Gorman said. “The program is extremely well regulated. It costs taxpayers not one dime. The customs and immigration service vets every investment to make sure it is not used to help a bad guy to get into this country,” Gorman said. “I can’t think of another government program that doesn’t cost taxpayers a dime and generates American jobs.” A Gorman & Co. development that used EB-5 is the Brewhouse Inn & Suites in Milwaukee. “We raised $15 million through EB-5 during the recession when no U.S. bank would loan us money. We created a 90-suite hotel with a bar and restaurant. There are now lots of jobs there,” Gorman said. Bobby Schilling has been working to make sure jobs are created in our district through private investment ever since he left office. He did that (before switching to full-time campaign mode) while working for CMB Regional Centers in Rock Island. Under the EB-5 program, CMB Regional Centers in Rock Island has helped create more than 90,000 new American jobs and helped add more than $7 billion in economic activity to rural and high unemployment areas. This is the type of economic resurgence Cheri Callahan-Bustos talks about all the time while doing absolutely nothing to make it happen. Unlike Callahan-Bustos, who only talks the talk, Former Congressman Bobby Schilling actually walks the walk. That alone is enough reason for you to vote for him this November 4, 2014! (Quotes taken from article in Rockford Register Star rrstar/article/20141004/NEWS/141009700 )
Posted on: Sat, 04 Oct 2014 22:27:11 +0000
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