I am sometimes asked if U.S. Citizen and Immigration Services (USCIS) will permit the investor to take credit for the construction jobs created if the construction project lasts fewer than 2 years.
The answer is yes.
USCIS’ policy permits EB-5 investors to take credit for the indirect and induced jobs created by construction expenditures even if the construction project lasts fewer than two years (and if the construction project lasts more than two years, the investors can also take credit for the direct construction jobs created).
On the EB-5 Quarterly Engagement conference call of Sept. 10, 2014, USCIS specifically confirmed that EB-5 investors are permitted to take credit for the indirect and induced construction jobs created by a construction project which lasts fewer than two years. As with other indirect and induced jobs created, the EB-5 investor can take credit for these jobs even if the construction is completed prior to the I-526 or I-829 petition approval (assuming other EB-5 requirements are met).
Bill Gresser is president of EB-5 New York State Regional Center.