Utilizing EB-5 in New York
www.iiusa.org
300 New Jersey Ave NW, Suite 1075
Washington, D.C. 20001
WHAT IS
EB-5?
Development Finance: A low-cost alternative financing tool used to
create jobs in the United States.
Immigration: When a foreign national invests a minimum of $500,000 in
an area of high unemployment and creates 10 jobs for US citizens, they
qualify for permanent residency.
Regional Centers act as bundlers of EB-5 investments. They can be operated by
a private, public, or P3 entity.
EB-5 has emerged as a potent economic development tool to fill financing gaps
in project funding.
EB-5 Economic Impact Map (available at iiusa.org)
$14.6 BILLION in foreign direct investment since 2008
87,500+ AMERICAN JOBS IN 2015
$0 COST TO TAXPAYERS
House of Representatives
412-3
Senate
100%
BIPARTISAN SUPPORT
Signed by
President
Obama
$1.3 BILLION
IN FEDERAL TAX REVENUE
$768 MILLION IN STATE/LOCAL TAX REVENUE
ANNUALLY
Questions?
E-Mail: advocacy @iiusa.org
Call: 202-795-9665
Utilizing EB-5 in New York
Highlighted New York Projects EB-5
George Washington Bridge Bus Station and Infrastructure – New York
$91 million in EB-5 investments 2,000+ jobs created
EB-5 funds helped transform this transit and retail hub to a modern facility and increased its bus capacity by 50% and retail space within the station quadrupled, both bringing indispensable permanent jobs to the facility.
Gates Vascular Institute – Buffalo
$10 million in EB-5 investments 200 jobs created
Gates Vascular Institute turned Buffalo into a top-tier choice for stroke, cardiac and vascular care. It was ranked in the top 2% for cardiac surgery in the nation by the Society of Thoracic Surgeons.
Brooklyn Navy Yard Redevelopment
$114 million in EB-5 investments 4,530+ estimated jobs created
The redevelopment of the government-owned Brooklyn Navy Yard was a key element of New York City’s plan to spur economic growth, refurbish its industrial manufacturing sector and create jobs. The Navy Yard underwent a complete infrastructural overhaul and is home to over 330 industrial and creative business and is a model for sustainable urban industrial parks.
Relevant State Actors: New York Department of Labor John Gilstrap, EVP Business Attraction & Expansion [email protected]
New York Totals: $7.1 billion in EB-5 funding
78 projects
16,130 jobs created
New York Support: Jamestown Urban Renewal Agency New York NAACP New York State Small Business Development
Center Ontario County Industrial Development Agency