University Hospitals Project: Why EB-5

University Hospital’s (UH) ‘Vision 2010’ expansion campaign saw the construction of several new hospital facilities and upgrades to existing facilities, that significantly increased UH’s ability to serve patients. Thanks to imaginative leadership the community and UH, the expansion plan committed to hiring an unprecedented number of local union contractors and vendors for the construction and procurement operations of these new and upgraded facilities. All of which greatly expanded the already significant positive economic impact of Vision 2010’s new investment. 

University Hospitals EB-5 Project: Anchor Institutions & Economic Growth

The story of Cleveland's economic rebound has been made possible by a myriad of different entities, all working together toward the common goal of increasing growth in the city. Some of the key players that have made this ongoing economic development possible are the city's anchor institutions.

In Cleveland, large hospital systems and universities are among the most visible entities to be considered anchor institutions since they employ thousands of people, require considerable support services from vendors, have large annual budget expenditures, and have deep roots within the region.

The University Hospitals EB-5 Project

After the success of the Flats East Bank EB-5 Project, CiF was eager to find another catalytic development project in Cleveland. As the city has developed into a hub for advanced healthcare research and technology (two of the world’s leading healthcare systems – the Cleveland Clinic and the University Hospitals Health System (UH) – are based in the city), we at CiF were interested in finding a way to use EB-5 to support Cleveland’s growing healthcare industry.

It quickly became apparent that University Hospitals’ “Vision 2010” system-wide expansion plan would be an excellent fit for EB-5. UH’s multi-year plan to update existing and construct new healthcare facilities not only satisfied government standards for the EB-5 program in terms of job creation and supporting economic development but also appealed to the interests of EB-5 Investors.