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.
STATE ECONOMY: Alabama, known as The Yellowhammer State, The Heart of Dixie and The Cotton State, is the 24th most populous state in the U.S. and 30th largest by area. Alabama’s GDP is about $204.8 billion, according to the Bureau of Economic Analysis. The main industries are automotive, chemical, technology, forestry, aeronautics.
POPULATION OF ALABAMA: The U.S. Census Bureau data shows the population in Alabama at about 4.9 million. Almost 70% of the state’s residents identify as white, 26.8% Black or African American, 4.4% Hispanic or Latino and 1.5% Asian. Most residents in Alabama speak primarily English. A small percentage of population speaks Spanish.
IMMIGRATION SITUATION: Alabama has a small immigrant population. The American Immigration Council estimates that 3.5% of Alabama residents were immigrants, and more than 5% self-employed business owners were immigrants who generated about $1.79 billion in total annual revenue. The majority of immigrants come from Mexico, Guatemala, India, Korea and Germany.
COMPLETED EB-5 PROJECTS IN ALABAMA
An expansion of Princeton Baptist Medical Center in Birmingham, which included 16 new surgery suites and a two-story chapel was paid for in part with $25 million from 50 EB-5 investors, according to Sunbelt EB-5 Regional Center.
Country Living Senior Center in Foley was funded in part by money from EB-5 investors, according to media reports.
Automotive parts manufacturer, Ajin USA, used EB-5 funds to help with construction of a new production line in its manufacturing facility in Chambers County, according to Southeast Regional Center.