Michael Kester is the lead EB-5 economist at Impact DataSource, LLC, an economic research, analysis, and consulting firm which operates out of Austin, Texas. Since 1993, the firm has completed more than 2,500 high-quality economic impact analyses in all industry sectors throughout the country. In tandem with this specialty in fiscal and economic impact analysis, Impact DataSource provides economic analyses for developers seeking EB-5 funding, with Mr. Kester at the helm of the EB-5 team since 2012.
The team of economists at Impact DataSource has successfully conducted over 60 comprehensive EB-5 economic impact studies over the past five years. Mr. Kester also oversees the firm’s TEA team, which has evaluated more than 1000 potential Targeted Employment Area sites, and helped clients to obtain 100-plus TEA certifications. Mr. Kester understands the evolving program requirements provided by USCIS and applies this knowledge to the economic consulting services and deliverables he provides to EB-5 clients.
Specifically, Impact DataSource’s EB-5 services consist of Targeted Employment Area assessment, along with TEA analysis for designation-purposes. The firm also offers a preliminary EB-5 economic analysis, which indicates the possibility of TEA designation for the project in question, provides job creation numbers, and predicts how much EB-5 capital can be raised.
The detailed EB-5 economic impact analysis which the firm provides for proposed EB-5 projects and regional centers relies upon USCIS-approved methodologies. One of the firm’s past approved studies also successfully utilized a special methodology which included indirect job creation both outside and inside the EB-5 regional center. Each report provides a comprehensive and objective perspective on employment impact, along with other economic impacts required for EB-5 approval. Throughout the process, Impact DataSource works collaboratively with project applicants, immigration attorneys, and the regional center.
Prior to joining Impact DataSource, Mr. Kester worked as an actuarial healthcare consultant in New York City, for the company Deloitte. A native of Kansas, he graduated from Kansas State University with his bachelor’s degree in Mathematics.
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In light of the new EB-5 Immigrant Investor Program regulations which are scheduled to go into effect on Nov. 21, 2019, what data should be used for unemployment rate calculations?