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says the financing program worked well for that plant.
• "It's a terrific program," he said.
• Dakota Provisions borrowed $55 million from 110 foreign investors under the EB-5 program. It now employs about 800 people, even though it's not yet running at full capacity.
• Rutledge said Dakota Provisions has made all its interest payments to date and expects to pay off its loans on schedule at the end of next year.
• Basin Electric also used EB-5 to help pay for its $400 million Deer Creek power station near Elkton. EB-5 money provided $105 million of that cost.
• "It gave us a favorable interest rate for about one-fourth of the total cost of the project," said Curt Pearson of Basin Electric. "The process that was advertised ... it worked well for us, and we were satisfied."
• Pearson said Basin Electric will pay off its EB-5 loans when they come due in 2015.
• But the program didn't work so well for two dairies and their foreign investors. Veblen East dairy went bankrupt in 2010 along with its cousin, the Veblen West dairy. They were bought in bankruptcy by a Minnesota company.
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10 Things to Know for Today
The Associated Press
• Your daily look at late-breaking news, upcoming events and the stories that will be talked about today:
• 1. RELIEF IS ON THE WAY TO THE PHILIPPINES
• Australia, Japan and various U.S. agencies are among those joining what will swell into a major international relief mission in the coming days.
•
• 2. STUDY ABROAD AT ALL-TIME HIGH
• Chinese students lead the way among foreigners on U.S. campuses, while Americans are going overseas in record numbers, too.
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• 3. SNOOPY, CALVIN AND BEETLE BAILEY LIVE HERE
• The Billy Ireland Cartoon Library and Museum on the Ohio State University campus in Columbus will open to the public Saturday.
•
• 4. 'ALL OF A SUDDEN, IT'S LONESOME'
• World War II veterans like George Williams, 90, see fewer and fewer of their comrades at reunions, as the march of time takes its toll.
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