Saturday, September 26, 2009

Strategy for funding hybrid auto plant in Baldwin emerges - al.com

Strategy for funding hybrid auto plant in Baldwin emerges - al.com: "BAY MINETTE — Crucial to a Chinese company's plans to bring a hybrid automobile factory to north Baldwin County is a little-known U.S. government program that encourages immigrant investment in exchange for a path to citizenship.

Nearly six months before this week's announcement about Hybrid Kinetic Motors, the Hong Kong investment group behind the venture laid the groundwork to take advantage of the EB-5 visa law.

The Alabama Center for Foreign Investment, or ACFI, could be the main conduit for nearly $1.5 billion in startup capital for HK Motors, officials with the company and center said."