CMB is a grouping of EB-5 Regional Centers that has its beginning in the CMB Export EB-5 Regional Center.
The CMB Export EB-5 Regional Center (CMB) was authorized on August 15, 1997 and subsequently reaffirmed and geographically expanded April 2007, June 2010, May 2012 and July 2013. The formation of CMB (an acronym for “California Military Bases” or “Closed Military Bases”), as originally constituted, was intended to assist California communities which have experienced the devastating economic effects of military base closures due to the determinations of the Federal Base Realignment and Closure Commission (“BRAC”). The CMB Export geographic scope originally outlined in its authorization included the counties of San Bernardino and Riverside in Southern California and the county of Sacramento in Northern California. The business or operational focus of the original regional center designation was the rehabilitation to civilian use of the closed or realigned military bases and to provide jobs in the counties in which they reside.
The military bases named in our original CMB Export Regional Center were George Air Force Base, Norton Air Force Base, Mather Air Force Base, Sacramento Army Depot, McClellan Air Force Base and the realigned March Air Force Base. The CMB plan was to focus on communities that contained closed or BRAC affected military bases and assist economically those surrounding communities that have experienced the economic devastation of losing the jobs and commerce the military bases formerly provided to the communities for decades. CMB decided to apply the lessons learned in the initial military base revitalization to all California communities and public and private partnerships. CMB sought and obtained the geographic scope of the entire State of California on June 10, 2010 and received a second expansion of its geographic scope to include Nye County in the State of Nevada through its July 22, 2013 regional center amendment.
CMB Summit, LLC was formed in the State of Ohio on December 12, 2008; designated by USCIS as an EB-5 Regional Center covering Summit County Ohio on January 22, 2009; and amended to cover the entire state of Ohio on July 25, 2011. While the CMB Summit Regional Center was approved by USCIS in January 2009, the history of CMB Summit began long before that date. CMB Summit began with the early development of the new World Headquarters for the Goodyear Tire and Rubber Company and various other projects across Ohio acting as a lender to Industrial Reality Group (IRG) and others. On July 30, 2013, CMB Summit received its Regional Center approval (I-924) and soon after, specific project approvals (I-526) for CMB Infrastructure Investment Group X. The $104 million EB-5 investment was combined with public and private funds for a total of $322 million in overall construction spending. CMB’s time-tested business approach was utilized in Ohio to construct a new Goodyear World Headquarters, renovate the existing structures of the former Goodyear Headquarters properties, and renovate the former Hoover Vacuum Company Headquarters within the State of Ohio.
CMB Regional Centers further includes the CMB Southeast, LLC Regional Center in Georgia and Florida. CMB Southeast, LLC was formed in the State of Florida on September 24, 2012 and in the State of Georgia on October 12, 2012; designated by USCIS as a Regional Center covering the both the entire States of Florida and Georgia on September 16, 2013. Additional statewide Regional Center status for CMB Pennsylvania on March 20, 2014, CMB Illinois on March 31, 2014, and CMB Texas on June 4, 2014.
The State of Iowa Regional Center has contracted with CMB EB-5 Regional Center to serve as the exclusive operator of the State of Iowa EB-5 Regional Center. It is the intent of both parties that CMB Regional Centers employ in Iowa its already successful business approach. The CMB Regional Centers and the State of Iowa are already vetting investments deemed critical to Iowa’s infrastructure needs and its economy. On June 21, 2013, the State of Iowa Regional Center received USCIS approval of its I-924 Regional Center amendment allowing for an expansion of its geographic scope and industry sectors. This amendment will enable EB-5 capital and CMB regional centers to achieve their maximum potential in the Iowa projects currently under consideration.
Today, the primary focus of the CMB Regional Center partnerships is to assist needy communities and their related local government agencies throughout California, Iowa, Illinois, Ohio, Nevada, Texas, Florida and Georgia, Tennessee, North Dakota as well as Pennsylvania by channeling foreign national investment capital into larger infrastructure construction projects such as, roads, sewers, water, electricity generation, transportation, communication upgrades, and public and private building structures. CMB combines its capital with that of the federal, regional, state and city economic development authorities and private entities. The objective is to pool a significant amount of capital for various infrastructure investments that ultimately will stimulate economic growth because infrastructure is the backbone of long-term economic growth and job creation. This concept is the cornerstone of all CMB business plans and its subsequent partnerships.