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Staten Island Observation Wheel Watch

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The giant ferris wheel slated for Staten Island's north shore just got a huge financial boost; 300 Chinese citizens have been cleared to invest a total of $150 million, or $500,000 each, in the project through the federal green card program known as EB-5. EB-5 provides temporary visas for foreigners who invest $500,000 or more in stateside job-creating endeavors, and can lead to green cards if the investment leads to the creation of ten jobs in a two-year period. The foreign investments comprise more than one-third of the $400 million needed to build the 625-foot observation wheel. [SI Live; official; previously]