WASHINGTON–(BUSINESS WIRE)–A just-released economic impact study commissioned by Invest in the USA (IIUSA) finds that the U.S. EB-5 immigrant investor visa program contributed $3.58 billion to U.S. GDP and supported over 41,000 U.S. jobs during fiscal year 2013.
“As the industry trade association for the EB-5 Regional Center Program, IIUSA is committed to accurately measuring the positive impacts of the EB-5 Program in terms of job creation, GDP growth, and tax revenue”
“As the industry trade association for the EB-5 Regional Center Program, IIUSA is committed to accurately measuring the positive impacts of the EB-5 Program in terms of job creation, GDP growth, and tax revenue,” said IIUSA Executive Director Peter Joseph. “The results of the 2013 assessment demonstrate that the EB-5 Program will continue to deliver on its promise of regional economic development and U.S. job creation at no cost to the taxpayer.”
Additional findings of the report include:
Participants in the EB-5 program invested approximately $1.998 billion through EB-5 Regional Centers in FY2013. Nearly 75 percent of EB-5 investment capital – $1.47 billion – was invested in the construction of new commercial structures. Other sectors seeing FY2013 EB-5 investments include the motion picture and video industry ($94 million), construction of new healthcare structures ($93 million) and construction of new multifamily residential structures ($77 million).
Combined with data and analysis from two previous reports covering FY2010-2012, the new study documents a four-year total of $9.62 billion contributed to GDP and an average of more than 29,300 jobs supported annually by EB-5 investments and related spending.
The report also looks at the economic contribution of the full capital stack of EB-5 funded projects based on a preliminary database of EB-5 Regional Center project costs. Using the total-cost-to-EB-5-equity ratio derived from this preliminary data, the report finds that the full capital stack employment contributions in FY2013 increase to 57,257 jobs supported and the total contribution to GDP increases to $4.89 billion.
“One of the effects of the Great Recession that looks here to stay is a fundamental change in how large-scale economic development projects are financed. With more diversification of risk required on the front-end, EB-5 capital is playing an important role helping projects get off the ground and completed by attracting other sources of capital,” comments Joseph. “Looking then at the economic contribution of the entire capital stack demonstrates the real value of the EB-5 program to the American economy.”
For more information about the EB-5 program, click here.
To view interactive maps of economic impact data by state and congressional district as well as information about the report’s methodology, click here.
For media access to the full report, contact Kirk Monroe at firstname.lastname@example.org or (202) 207-3646.
Invest in the USA (IIUSA) is the national not-for-profit industry trade association for the EB-5 Regional Center Program, representing over 240 federally designated EB-5 Regional Centers. Approximately 95 percent of all capital raised through the EB-5 program is raised in affiliation with IIUSA’s members.