Hillwood and the IVDA Celebrate 15 Years of Success

On December 14, 2017, Hillwood and the Inland Valley Development Agency (IVDA) celebrated 15 years of success through their public-private partnership, AllianceCalifornia. In November of 2002, Hillwood, a Perot Company, was named as Master Developer of land surrounding the former Norton Air Force Base (NAFB). Beginning in 2007 working with the IVDA and later directly with Hillwood, CMB Regional Centers’ funds were utilized at the former NAFB, which is now home to multiple Fortune 100 and 500 firms. From 2007 to 2011, CMB provided over $101 million in direct funding to the redevelopment of the NAFB and local infrastructure through eight EB-5 limited partnerships. The funding served as the catalyst needed to kick start growth on the former NAFB. CMB has continued these efforts in the region by working directly with Hillwood, providing an additional $117 million in EB-5 loan funds through five CMB partnerships since 2012. This public-private partnership has generated over $2.3 billion total economic impact to date, transforming the once distressed area into a thriving economic hub. For more information on the success of AllianceCalifornia, be sure to check out the article below.