SOURCE: Pacific Group

Pacific Group

July 25, 2011 20:59 ET

China Trade Conference Opens Doors in U.S.

Pacific Group Signs Agreements With Three Chinese Firms

SALT LAKE CITY, UT--(Marketwire - Jul 25, 2011) - In the Governor's Board Room in the Utah State Capital yesterday afternoon, Lt. Governor Greg Bell witnessed as Pacific Group signed memorandums of understanding with three different Chinese firms. The agreements were the result of The U.S. & China Trade, Culture, and Education Conference which was held July 14th - 17th in combination with the U.S. Governors National Conference. The Governors National Conference was held in Utah for the first time since 1947, and organizers took advantage of the coinciding events to create a Sino-U.S. Governors Forum with their Chinese counterparts.

Approximately 80 Chinese government officials attended the conference along with a contingent of 90 Chinese business people and 32 U.S. Governors from across America. Pacific Group was one of several major sponsors for the event which was held at the Little America Hotel in downtown Salt Lake City, the Utah Governor's Mansion, the Utah State Capital, and the Grand America Hotel.

Douglas Anderson, Pacific Group's Chairman and CEO, expressed satisfaction with the conference outcome noting, "Even though we have been on multiple business development trips to China in the past eighteen months, it was nice to have this group visit the U.S. so they could better understand the opportunities here where they might be investing in private companies and real estate. These investments can lead to economic growth, good financial returns, cultural exchanges, and a significant number of jobs in America, so this is important for both countries."

In a busy day of wrapping up the discussions and negotiations from the weekend, Mr. Anderson signed a development and joint investment cooperation agreement with Mr. Xinming Liu, Chairman of the Board of the Yen-Chain Creative Investment Corporation based in Inner Mongolia. They committed to work together on a Pacific Group project in New Hampshire. Pacific Group is a Salt Lake City based holding company with completed projects in 26 U.S. states and two Canadian provinces.

Pacific Group also signed a joint investment and development agreement with Mr. Kang Guiliang who is Chairman of the Board of three firms doing business in Henan Province of Hebi City, Zhong Yuan Tou Zi, Zhong Yi Zhi Ye, and Zhong Yi Dong Man. The firms are involved in real estate, construction, and media technology respectively. Pacific Group and Mr. Kang's firms plan to work together on one of Pacific Group's resort real estate developments and on the advancement of graphic video animation technology in cooperation with Zhong Yi Zhi Ye, LLC.

In addition to these traditional business opportunities, Pacific Group also signed a cooperation framework agreement with Mr. Zhang Guang Xue, General Manager of a prominent Beijing textile firm for joint investment in Pacific Group's Ragged Mountain Resort, a ski and golf project in Danbury, New Hampshire. Ragged Mountain is a U.S. EB-5 visa program "Regional Center." EB-5 projects are based on a visa program which requires the certified creation of at least 10 U.S. based jobs for every $500,000 invested. In exchange for the investment, foreign nationals who qualify have the opportunity to acquire a residency permit called a "green card" so they can live, work, study, and travel in the United States. Chinese nationals account for approximately 70% of all EB-5 visas granted.

The economy in general, and job creation in particular, were main topics for the Governors' conference. Pacific Group capital markets representative Doug Lo spoke with Washington Gov. Christine Gregoire, outgoing chair of the National Governors Association, who noted that her state was using the EB-5 program to compete with Canada for investment funding. Mr. Anderson mentioned that he had heard similar sentiment, "All of the governors I spoke with from across the U.S. expressed a strong interest in exploring further ways they could use the EB-5 program to bring investment and jobs to their respective states. We have a lot of follow-up work to do."

David Strong, Pacific Group's Chief Operating Officer, explained his view of the Sino-U.S. trade conference, "It is hard to express how valuable this cultural exchange was and will be. We have signed agreements with firms from three different parts of China, and these agreements could lead to significant economic development in addition to literally thousands of jobs. The Chinese economy has been expanding rapidly, in part because of their access to capital. Over the past few years capital has been far less available in the U.S., so companies haven't been able to operate as effectively or to generate much growth. This trade conference provided us with the opportunity to meet with people who have funds to invest and who have an interest in economic development as well as cultural and technology exchanges. It created business opportunities that would not have existed otherwise, and that will be good for all the parties involved."

Over the past 25 years, Salt Lake City based Pacific Group and its affiliates have been responsible for billions of dollars in commercial real estate acquisition, development, and construction with over 1,000 successfully completed projects. These projects include some of the top resort properties in North America plus student housing, commercial office buildings, retail stores and centers, industrial business parks, multi-family urban condominium properties, and master planned resort communities.

Pacific Group's background and affiliates in commercial development and construction management provide the company with unique insight into the cost analysis and construction management aspects of large scale development. Through meticulous adherence to cost control procedures, intense upfront due diligence, experienced project management, strong financial analytical skills, and thorough marketing doctrines, Pacific Group has established itself as an industry-leading development company with finished projects in 26 U.S. states and two Canadian provinces.

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