Riverine Fisheries International - A Fulton County, Kentucky-based company in the City of Hickman located on the Mississippi River. Today it is one of the leading companies in the growing and sustainable market of seafood processing, both in the US and abroad. The company has been federally designated to participate in the EB-5 program.
Scope of project: catching and processing of seafood (Asian carp)
PROJECT INVESTMENT DETAILS:
- Company turnover - $24 million/year
- Minimum investment amount - $500,000
- Term of investment: 5 years
- Total number of available family visas under the EB-5 program - 25
TOTAL CAPITALIZATION - $18.8 MILLION, INCLUDING:
- EB-5 investments - $12.5 million
- Equity - $700 thousand
- Private sector equity - $5.6 million
USE OF INVESTMENT CAPITAL (EXPENDITURE ITEMS):
- Purchase of Riverine Fisheries International $1,700,000
- Operating expenses (renewal, repair of fixed assets) $7,155,864
- Prepayments to suppliers - $360,479
- Purchase of fixed assets - $430,000
- Administrative expenses - $2,853,653
High level of demand for Asian carp products (main commercial fish of Riverine Fisheries International) in the international markets actively promotes the growth and the development of the company. For example, in 2013-2014, the US export of fish oil and by-products from Asian carp amounted to approximately $154,850,000 and $81 million, respectively. The annual revenue of the company in the total market volume is estimated to be $24 million.
Catching and processing of Asian carp, carried out on modern equipment with advanced technologies, have shown high efficiency in the north-western regions of the Pacific Ocean and Alaska. In particular, Riverine Fisheries International turns the catching and processing of Asian carp in a commercially profitable product due to the use of fish-processing vessels.
Fisheries Riverine International so far has created 140 jobs under the EB-5 program, including 120 jobs in production and 20 jobs in catching and sales. According to the economic forecast of Evans, Carroll & Associates, in the next five years Fisheries Riverine International (Pangaea Regional Center) will create under the EB-5 program 142 direct and 176 so-called “indirect” jobs, making a total of 318 new jobs. Therefore, the amount of the investment fund obtained through the EB-5 program will be increased to $15.5 million.