The Jobenomics Center for Industrial Development (JCID) is a business training center and industrial incubator concept dedicated to foreign manufacturing and investment in the United States with emphasis on Asian/American manufacturing joint ventures. Upon completion of the JCID program, the foreign executive will have a thorough understanding on how to establish a US business; have high level contacts with US CEOs, government and financial leaders; and be given the opportunity to invest in US businesses to obtain permanent US entry visas via the US Citizen & Immigration Services (USCIS) EB-5 foreign investor program. The EB-5 foreign investment program also would provide additional investment funds for foreign manufacturing to the US.
The initial JCID goal is to implement a US/foreign business incubator in a location that can be duplicated nation-wide. The long-term goal is to create thousands new US businesses as a result of new US/foreign industrial and manufacturing joint ventures. The Jobenomics team is currently in discussion with metropolitan area leaders regarding the location for the first JCID facility.
In the 1980s, the Japanese were motivated to build automotive factories (Toyota, Nissan and Honda) in the southeast US in order to build brand, facilitate trade, and mitigate growing “buy-American” sentiment that was largely caused by the 1982 recession and high American unemployment rates. In the 2010s, the Chinese are likely to adopt a similar strategy, and have financial and manufacturing motives to do so. Establishment of industrial, research and development, assembly, distribution and warehousing operations within the US would provide Americans with jobs and would help bridge the export/import gap between the world’s first and second largest economies.
JCID’s main functions include an Executive Business Program, an EB-5 foreign investor program, and an industrial park/business incubation center. The Executive Business Program consists of a 12-week training program for foreign executives who are responsible for starting US businesses. The program will feature a school of entrepreneurialism that will introduce these executives to American culture and business centers of excellence. Business education will consist of formal classes taught by leading US businessmen and academics, with visits to leading US financial institutions, and leading local, state and federal policy-makers and business institutes/associations. The EB-5 program will also assist executives in obtaining resident visas for lifelong access to their US-based business. The industrial park/business incubation center will help locate, finance and implement new US/foreign joint ventures in the United States.
The JCID Executive Business Program will last 12 weeks, with approximately seven weeks for instruction, and five weeks of excursions to:
- Meet with major financial institutions, Fortune 500 companies and entrepreneurial organizations.
- Visit the executive, legislative and judicial branches, as well as leading trade organizations, think tanks and various decision-makers and opinion-leaders.
- Conduct local trips to cultural centers, meetings with business/ government leaders, and leading business schools/universities.
- Allow one week of open time, to tour the United States or return home.
Upon completion of training, the foreign executive will:
- Have a thorough understanding on:
- US business environment, business sectors and practices, and the US workforce.
- Governmental trade, regulatory and legal requirements.
- How to establish a business in the US and obtain additional investment capital.
- Have high level contacts with business, government and financial leaders, as well as potential joint venture partners.
- Be given the opportunity to obtain permanent US entry visas, driver’s licenses, bank accounts and entry into leading US business schools.
Senior leaders in government and major conglomerates in China, South Korea and Japan have expressed interest in the Junior Executive Program, as well as the EB-5 visa program. $50M worth of foreign investment capital is expected, which will be used to incubate new US businesses. JCID is also working with private sector investors to raise several hundred million dollars’ worth of capital to help start some major manufacturing enterprises with an initial emphasis on assembly, distribution and warehousing operations of electronic, computer and appliance manufacturing that is dominated by Asian manufacturers.
EB-5 Program: Under the Immigration and Nationality Act, immigrant visas per year are available to qualified individuals seeking permanent resident status on the basis of their engagement in a new commercial enterprise. There are approximately 100 EB-5 Regional Centers in the United States. EB-5 centers are for foreign investors and prominent individuals seeking permanent resident status (Green Cards) based on a minimum investment in the US of $500,000 each, which will create a minimum of ten US jobs, or maintain ten jobs, in a troubled US business. The JCID EB-5 Immigrant Investor Program could be oriented towards the manufacturing sector.
The JCID management team has identified several hundred potential investors in Asia (China, Japan and South Korea) who are willing to invest in a limited partnership with properties, buildings and new businesses. Permanent US visas are very attractive to foreign businessmen who often have difficulties with entry visas to the US. These visas are also attractive for foreign student attending colleges and universities in America.