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How many jobs must my EB-5 project create?

If I am a private developer and am constructing a $10 million hotel consisting of $3 million of EB-5 direct equity investments and $4 million of my private equity, and the rest is financed - how many jobs must be created to fulfill the EB-5 requirement?

Answers

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    10 jobs per investor. If this is in a targeted employment area and allows for the $500,000 investment, you will need 6 investors and, therefore, 60 jobs or more. There is much more to an approvable EB-5 project than this, so please consult with an EB-5 attorney who can assist you.

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    Vaughan de Kirby

    Immigration Attorney
    Answered on

    The project must create 10 full-time jobs for each of the EB-5 investors.

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    Irina Rostova

    Immigration Attorney
    Answered on

    If you are in a TEA zone and will take six investors at $500,000 each, then you will need to create at least 60 jobs. If you are not in a TEA zone, then each EB-5 investor will have to contribute $1 million and you will need to create at least 30 jobs.

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    Jinhee Wilde

    Immigration Attorney
    Answered on

    The requisite job creation is based on the number of EB-5 investors the project has. If the $3 million EB-5 investment is from one person, then the jobs that must be created is 10. If the project is located in the designated Targeted Employment Area (TEA) and you have six investors investing $500,000 each, then the project must create 60 jobs.

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    Rebecca Singh

    Immigration Attorney
    Answered on

    The project must create 10 full-time jobs for each investor. In this scenario, if you are looking for $3 million from EB-5 funding, it depends on the location of the project. If in a Targeted Employment Area (TEA), the amount is reduced to $500,000. You can have six investors, as long as the project can create 60 full-time jobs. If in a non-TEA, then the amount per investor is $1 million, but the jobs created only needs to be 30. However, it is best practice to create more than just the required amount of full-time jobs. In addition, you should first obtain a preliminary job count to determine the amount of EB-5 funding. Please note this is based on the current regulations.

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    Charles Foster

    Immigration Attorney
    Answered on

    If it is a direct investment, you must create 10 jobs for U.S. workers, thus there would be 30 jobs for $3 million unless the project is located in a Targeted Economic Area (TEA) and you are raising money at $500,000 per investor and then you would have to create 60 jobs in order to attract $3 million of direct EB-5 equity in the investment.

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    Abhinav Lohia

    Immigration Attorney
    Answered on

    The number of jobs depends on the number of investors, not the investment amount. You need to create 10 jobs per investor.

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    Peter Zhang

    Immigration Attorney
    Answered on

    Assuming it is in a TEA, $3 million EB-5 = six EB-5 investors. Each EB-5 investor needs to create 10 jobs. Therefore, you would need at least 60 jobs. If your hard construction cost is at $10 million, you should be ball parking at around 80 - 100 jobs, depending on your project location.

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    BoBi Ahn

    Immigration Attorney
    Answered on

    In order to determine the total job creation required for the $3 million invested by EB-5 investors, you should also keep in mind whether your project/hotel is located in a designated Targeted Employment Area (TEA). If yes, then the minimum capital investment required per EB-5 investor would only be $500,000 (so potentially six EB-5 investors can qualify), and per investor, a minimum 10 full-time jobs must be created - which means a total of 60 job creation requirement. If your hotel cannot manage 60 job creations, then you, as the developer, may decide to make the minimum investment required per EB-5 investor to be $1 million (irrespective of TEA qualification or if the hotel location is outside of the TEA) - then only 30 jobs will need to be created, attributing 10 per investor.

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    Ying Lu

    Immigration Attorney
    Answered on

    The number of jobs is decided by the number of investors you have in this project. Each EB-5 investor needs to create 10+ jobs. If you have six investors, you need to create 60 qualified jobs for the $10 million project.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    The current minimum investment threshold is $500,000 if in a targeted high unemployment or rural area. Therefore, to raise $3 million, you need six investors at 10 jobs each for a total of 60 jobs. Best to have at least a 20 percent job cushion. If you affiliate with or have a regional center, these can be direct, indirect or induced jobs.

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    Stephen Berman

    Immigration Attorney
    Answered on

    10 per EB-5 applicant.

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