The Regional Center Program was created by Section 610 of Public Law 102-395 on Oct. 6, 1992, and has been extended since. EB-5 requirements for an investor under the Regional Center Program are essentially the same as in the original EB-5 program. The difference is that the Regional Center Program provides for investments that are affiliated with an economic unit known as a “Regional Center.” Investments made through Regional Centers can take advantage of a more expansive calculation of job creation including direct, indirect and induced jobs.
EB-5 REGIONAL CENTERS
In 1992, Congress created a temporary pilot program designed to stimulate economic activity and job growth, while allowing eligible aliens the opportunity to become lawful permanent residents. Under this pilot program, foreign nationals may invest in an approved Regional Center that is involved with the promotion of economic growth, including increased export sales, improved regional productivity, job creation, or increased domestic capital investment. Investments within a Regional Center provide foreign nationals the added benefit of allowing them to count jobs created both directly and indirectly for purposes of meeting the 10 jobs creation requirement.
WHAT ARE Direct JOBS?
Direct jobs are actual full-time positions created by a business
WHAT ARE INDIRECT JOBS?
indirect jobs are created by other businesses that come into existence due to the economic growth of your business.
WHAT ARE INDUCED JOBS?
Induced jobs are generated by the spending in the local economy as the result of direct and indirect effects from an economic activity
REGIONAL CENTERS are approved and designated by the United States Citizenship and Immigration Services (USCIS) and the Department of Homeland Security through an extensive process. Regional Centers must show the economic benefit of their designated geographic area.