20131200 Ver 5_9_AppendixG_EconomicDocumentation_20170613

"The world games will occur st the Tryon International Equestrian Center located inthe Appalachian
community ofMill Spring, North Carolina. This site iostrategically located inproximity toAtlanta, GA;
Chattanooga, TN; Charlotte, NC; and Greenville -Spartanburg, SC. Expansion and upgrades tothe center
have been accelerated to expedite preparations for the games and it is estimated the equestrian center
expansion and the World Equestrian Games will be responsible for the creation of 6,600 jobs and a total
economic impact ofnearly $1biUion.^
Larry R. Ellis, General (Retired) USA, CEO, Vmtonnnaox.Atlanta
Appalachian EB-5Regional Center Advisory Board
"The Appalachian region will be the site of the WEG, and more specifically, Mill Spring, NC where the
Tryon International Equestrian Center is located. This is the most significant event tobeheld inthe
Appalachia area and the United States Department of Agriculture cited this event'as being in the national
interest'The United States has a distinct history for attracting capital and creating jobs in Appalachia as
'to be in the national interest' starting in 1963 when President Kennedy formed the President's
Appalachian Regional Commission (pARC).^
Thom TiU|s. US Senator, North Carolina
"Organizing economic development efforts around clusters works as well in rural regions and is in some
ways even more critical; rural regions have less 'margin of error' and need to be more strategic in
leveraging the smaller set ofassets they have for economic development. The Tryon International
Equestrian Center project has the potential to achieve economic benefits that go far beyond hosting a
major international event like the 201Oworld games and the direct impact from investment. The project io
aligned with the assets of the region, and is structured as a collaboration between the many different local
firms and entities that form the nucleus ofthis emerging c|uotor.^
Michael E. Porter, Professor & Director, Institute for Strategy & Competitiveness, Harvard
Business School
"When one considers the impact ofinvesting several hundred million dollars inovery rural area like Mill
Spring, NC and opportunity to create a significant number of construction and permanent jobs, this
deserves our full support. It is an example of what we call 'community development'."
John F.A.V.°Jeck"Cecil, President, Biltmore Farms, Asheville
Appalachian EB'5Regional Center Advisory Board
"By quickly creating a new Tryon Equestrian economic cluster in this very rural underserved area of the
Southeastern US there will be lasting impacts in the manufacturing, agribusiness, hospitality, equestrian
aport, uunstruction, infrastructure and higher education sectors. Building a multi -dimensional economic
cluster iofar superior toand more resilient than asingle pnojec.^
Randall A.Gore, State Director, North Carolina, USDA Rural Development
Michele J. Cardwell, Acting State Director, South Carolina, USDA Rural Development
"The EB -5 capital project to expand the Tryon International Equestrian Center located in Polk County
within the WNC Communities region will continue to benefit farmers in the supply chain for the equestrian
center and the upcoming World Equestrian Games 2018. It builds on Tryon's distinguished history as an
equestrian community. The town is known as the historical birthplace of modern show jumping, it hosted
the 1056and 19SOUGOlympic Tria|o."
L.T. VVand, Vice Proeident, VVNC Communities Non -Profit Corp, Asheville
"The planned Tryon Equestrian Partners $250 million EB -5 economic cluster project has been evaluated
by our firm. This economic modeling shows total applicable employment impacts of the project estimated
at 6,623 jobs. In addition, the project will generate a total of $296.99 M in labor income (household
earnings), $446.43 M in value added contribution to Gross Regional Product, and $857.17 M in industry
output orrevenues within the study region.^
Scott Barnhart, Ph.D., Economics/Econometrics, CEO, Barnhart Economic Services