Foreign citizens and companies would need U.S. government approval to buy property within 100 miles (160 kilometers) of eight military bases, under a proposed rule change that follows a Chinese firm’s attempt to build a plant near an Air Force base in North Dakota.
The Treasury Department’s Office of Investment Security is set to propose the rule on Friday. It would give expanded powers to the Committee on Foreign Investment in the United States, which screens business deals between U.S. firms and foreign investors and can block sales or force the parties to change the terms of an agreement to protect national security.
CFIUS told Fufeng in September that it was reviewing the proposal and eventually concluded that it did not have jurisdiction to stop the investment. Six bombers are in various stages of production at Air Force Plant 42, located in Palmdale, California, while the two other bases will serve as future homes for the 100-aircraft stealth bomber fleet: Ellsworth Air Force Base in South Dakota and Dyess Air Force Base in Texas.
The letter prompted Grand Forks officials, who had initially welcomed the milling plant as an economic boon for the region, to withdraw support by denying building permits and refusing to connect the 370-acre site to public infrastructure.
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