Chinese Millionaires Coming After All?

Hey, it turns out the Chinese Millionaires might be investing here after all! To recap: The U.S. government apparently has some program that allows millionaires to give U.S. businesses low-rate loans in exchange for green cards. Immigration is pretty good, usually, and immigration by millionaires is even better. Soon the streets will be lined with millionaire money!

Well, the Convention Center had a chance to get some Chinese millionaires to invest, but: “We considered it. We looked at it. But it was kind of a bridge too far… too complex for us to consider.” Building a bridge from China to Philadelphia is kind of complex! But now Ed Rendell wants them to invest after all!

“At a time when investment capital is very difficult to obtain due to the financial crisis, the Welcome Fund can provide some of the private capital that is critical to the success of economic development initiatives throughout the commonwealth,” Rendell spokesman Chuck Ardo said in an e-mail yesterday.

“We strongly support such job-creating investment in our economy, both with respect to the Pennsylvania Convention Center as well as many other transactions around the state.”

Wow. First Chinese Democracy, now Chinese millionaires? What will they think of next?

Rendell pushing to use Chinese loans for Convention Center [Inquirer]