Global: EB-5 VISA Program: Balancing Risk & Opportunity
For a quarter century, the EB-5 Visa Program has helped finance economic development projects across America, sparking job growth and business investment in cities, suburbs, and rural regions throughout the U.S.—all at no cost to the taxpayer. EB-5-funded projects span a diverse range of regions and industries, from charter schools in Utah and manufacturing plants in South Carolina, to mixed-use commercial property in downtown Washington, DC.
Regulated by the U.S. Department of Homeland Security, the EB-5 program provides a path to citizenship to foreign investor-entrepreneurs for up to 10,000 visas each year. The initial application requires proof of investment in a qualified project, evidence of an investment of at least $500,000, and the creation of at least 10 U.S. jobs.
The Brookings Institute estimates the EB-5 program has generated at least $5BB in investment and directly created at least 85,500 American jobs since its inception, with most of these gains realized since 2010.
In addition to direct jobs, the EB-5 program has supported the creation of countless other indirect jobs in communities surrounding EB-5 projects. For example, a manufacturing plant built with EB-5 investment may lead to new growth opportunities for parts suppliers, while a new EB-5 funded hotel can generate more demand for local restaurants and retail shops. That’s a hefty economic punch for a program that represents just 2.9 percent of all employment-based visas.
EB-5 applicants undergo two rounds of extensive background checks administered by the Department of Homeland Security and Department of State. This screening process is more robust than any other employment-based visa program, and pays for itself through fees.
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