The Definition of a RURAL TEA:
- An area not located within a metropolitan statistical area (MSA) as designated by the Office of Management and Budget;
- Or the outer boundary of any city or town having a population of 20,000 or more based on the most recent census.
What does a rural TEA mean for industry professionals and investors?
The RIA Act of 2022 created a unique set aside for areas designated as RURAL.
A project that is located in a rural TEA qualifies for priority processing of Form I-526 by United States Citizenship and Immigration Services. These investors will qualify for set-aside visas from the rural TEA classification, which makes up 20% of the yearly allocation of EB-5 visas.
EB-5 MARKET IN ALABAMA: Alabama has a somewhat significant EB-5 market. As of May 2020, Alabama has 14 approved regional centers listed by USCIS.
ALABAMA ECONOMY: The state of Alabama has invested in aerospace, education, health care, banking, and various heavy industries, including automobile manufacturing, mineral extraction, steel production and fabrication. By 2006, crop and animal production in Alabama was valued at $1.5 billion. In contrast to the primarily agricultural economy of the previous century, this was only about 1% of the state’s gross domestic product.
RURAL TEA COUNTIES IN ALABAMA:
- Autauga
Baldwin
Barbour
Bibb
Blount
Bullock
Butler
Chambers
Cherokee
Chilton
Choctaw
Clarke
Clay
Cleburne
Coffee
Colbert
Conecuh
Coosa
Covington
Crenshaw
Cullman
Dale
Dallas
DeKalb
Elmore
Escambia
Fayette
Franklin
Geneva
Greene
Hale
Henry
Jackson
Lamar
Lawrence
Limestone
Lowndes
Macon
Marengo
Marion
Marshall
Monroe
Perry
Pickens
Pike
Randolph
Russell
St. Clair
Sumter
Talladega
Tallapoosa
Walker
Washington
Wilcox
Winston
INTERACTIVE RURAL TEA MAP
