In a recent alumni newsletter by John Carroll University, Bob Kraft was honored for his hard work and achievements in helping to improve the U.S. economy. The article highlights Kraft on a "Blue Streak Spotlight", adding that “he has helped created thousands of American jobs in 10 years with hundreds of millions of dollars being invested in southeast Wisconsin from foreign investors.”
Some of Kraft’s responsibilities and achievements are highlighted in the university’s newsletter:
A busy man
Throughout his professional career, Bob Kraft’s responsibilities include or have included being director of:
• Association to Invest in USA (IIUSA)
• Openfirst, LLC
• Milwaukee Area Chamber of Commerce
• United Community Center (Hispanic Chamber of Commerce)
• RBP Chemical Company of Milwaukee
• First/Edge Solutions
• University of Wisconsin-Madison’s China Leadership Board
• World Trade Association
• Tri-Tech Holding in Beijing
• Word of Hope Ministries
• Pacific Strategies & Assessment in Hong Kong
• Co-Chair of the China Business Council for the Metropolitan Milwaukee Association of Commerce
• Co-chairman of the WTA China Council for the Metropolitan Milwaukee area.
• Board member of the Point of Purchase Advertising Institute
Kraft says in the interview “we needed a hook for Chinese investors because they didn’t know about Milwaukee. That hook was the EB-5 program.”
FirstPathway Partners is the ninth start-up for Kraft, who has been dubbed a serial entrepreneur. In addition to Wisconsin, FirstPathway Partners is working on projects in Southern California, Florida and Nevada. So far, nine projects have been funded. Kraft expects to finish two more before year’s end. FirstPathway Partners' objective is to have raised $1 billion by 2017. Investments are in:
• mixed-use real estate;
• an aircraft engine manufacturer;
• hotels;
• a motorcycle manufacturer; and
• a software development company.
The feature adds: “and funds are coming from countries other than China: Canada, India, Russia, South Korea, Egypt, Denmark, Brazil, Iran, Hungary, and Venezuela.” Kraft notes that Investment programs like the EB-5 are common among countries in the Western Hemisphere, adding that Canada had been very successful, prior to its program being shut down.
Kraft tells JCU that the program is "good for the U.S. There’s no cost to taxpayers, and wealthy people invest a half million dollars at their own risk. They create U.S. jobs. We have bipartisan support among congress. The industry has done a good job PR-wise of explaining what the business represents. It’s been amazing.”