November 18, 2008

Pa. gov. pushes use of Welcome Fund

Pennsylvania Gov. Edward Rendell wants his state's Convention Center Authority to use the Welcome Fund to generate income for the center, sources said.

Details weren't disclosed but Rendell pressed the issue in a telephone call to CCA board members last week, The Philadelphia Inquirer reported Tuesday.

The Welcome Fund extends green cards to wealthy, vetted Chinese immigrants in exchange for help financing economic development projects, the newspaper said. The program was due to expire in September but Congress extended it until March 2009.

About 150 Chinese immigrants have placed about $500,000 each in an escrow account for the CCA, but the CCA board has yet to approve participation in the program, the newspaper said.