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Delano Aims To Bring Chinese Investors

POSTED: 9:37 am PDT June 2, 2010
UPDATED: 10:28 am PDT June 2, 2010

Chinese investors could be setting up shop in Delano after city leaders pitched a project overseas.

Sam Ramirez is a Delano City Council member.

On Tuesday he said that he and the developer for the Walmart Super Center in Delano, YK America, recently visited China to spark some interest in foreign investors to bring more jobs to the area.

The pitch is under the federally funded EB-5 program in which overseas investors are welcomed to open up shop in the United States. In return, the investors will get a resident status.

Ramirez said it’s a win-win situation. If the investors are interested, then the potential job opportunities could help Delano get out of its 30 percent unemployment rate and the investors would get to live in the US to run their business.

The Delano Marketplace is one of the approved businesses for the EB-5 program.

YK America wants to open the Walmart Supercenter by next spring, which means construction needs to start as soon as possible.

Ramirez said if their visit overseas means more jobs, then he welcomes the investors with open arms.

ABC23 will bring you the responses from China as soon as they become available.
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