Chapter 12: EVelution Energy Project Economic Impact to Create 3,000+ Jobs in Yuma County
CEO Navaid Alam highlights how the cobalt processing facility will create both high-paying local jobs and a surplus of EB-5 qualifying employment.
In Chapter 13 of our exclusive interview series, Michael Gibson of USAdvisors.org speaks with Navaid Alam, President & CEO of EVelution Energy.
Navaid explains that a Baker Tilly economic study projects more than 3,000 jobs will be created in Yuma County through the project — including direct, indirect, and induced employment.
Of these, approximately 80 jobs will be plant operations roles, paying about three times the local average wage. To further strengthen the community, EVelution Energy has partnered with Arizona Western College to provide customized workforce training programs.
This commitment to job creation not only ensures a lasting local impact but also significantly exceeds EB-5 program requirements. With only about 30% of eligible jobs needed for EB-5 compliance, the project demonstrates both strength and stability for investors.
Evelution Energy Interview Chapter 13
Michael Gibson, USAdvisors, interviews Navid Alam, CEO & President, EVelution Energy
Transcript
Evelution Energy Interview Chapter 13 Transcript
Michael Gibson, Managing Director of US Advisors (USAdvisors.org) an independent Registered Investment Advisory Firm. Michael also owns and runs EB-5 Investments (eb5projects.com) and is an EB5 industry expert.
Navaid Alam, President & Chief Executive Officer
Gil Michel-Garcia, Executive Vice President, General Counsel, Treasurer & Secretary
Michael Gibson, speaking
So let's, let's, one of the big concerns, obviously, job creation is a big concern in the EB5 space. And we'll be having an interview with Intermestic, who's the fund manager, to discuss the EB5 components. But, in terms of the plant operation, how many people do you foresee needing operationally, to run it. And then, you know, how many, how much will you be investing in order to make the plant operational through construction and other activities.
Navaid Alam, speaking
So, we've had a, a study done by Baker Tilly that has shown that we'll create a in direct, indirect, and other jobs of over 3,000 jobs will be created through our project in, in Yuma County. Our plant operations themselves will be about 80 jobs. High paying jobs for the area. We'll be averaging maybe three times the, the local wage. So,
Michael Gibson, speaking
So it's a great job for, for somebody in the county.
Navaid Alam, speaking
Yeah, it's a great benefit to the county. And our you know, workforce training programs are already underway with Arizona Western College. So they're partnering up with us as well to create training programs at their campuses in Yuma County, for, or our, local work, workforce as well. And so, in terms of job creation, we are, you know, creating a huge over supply under the EB5 program. We're, we're, we're only gonna be using about 30% of the jobs that we qualify for, for the EB5.