Apple Mountain EB-5, LP is raising EB-5 capital to fund the construction of a state-of-the-art apple orchard in Nicholas & Clay Counties, West Virginia (the "Project").
The Project is located in Nicholas & Clay counties, West Virginia, and qualifies as rural area.
The apple industry offers a promising market opportunity with growing demand for fresh apples, new varieties, organic sales, weather-related crop reductions, and expanding export markets. In the past two decades, the apple industry has experienced significant transformations, leading to the exit of less competitive operators, orchards, and regions. This shift has created a market opportunity for large, integrated grower-packer-marketers, such as the Project company, to establish a dominant presence in the industry. As a result, the industry has thrived overall, with real grower prices increasing and the average real value of production per acre more than doubling.
The rise in real grower prices can be attributed to several factors, including a growing preference for fresh apples, the popularity of new varieties, increased sales of organic apples, weather-related reductions in apple crops, and an expanding export market. Additionally, the industry has garnered substantial investments from domestic pension funds and foreign corporations, reflecting a heightened interest in the apple industry's potential for lucrative returns.
The Project is expected to create 2,247 jobs, resulting in an excess of 1,097 jobs or approximately a 196% job cushion.
The total cost of the Project is $107,741,000. The Project is raising up to $92,000,000 from 115 EB-5 investors through a Private Placement Memorandum dated July 13, 2022.
The Project is sponsored by West Virginia Regional Center, LLC.