EB-5 MARKET IN ARIZONA
Arizona is a significant EB-5 market. As of May 2020, Arizona has 9 approved regional centers listed by USCIS.
Arizona, known as The Great Canyon State, The Copper State and The Valentine State, is the 14th most populous state in the U.S. and sixth largest by area. Arizona’s gross domestic product was $321.4 billion in 2019, according to U.S. Bureau of Economic Analysis. The main industries include aerospace and defense, health care, technology, manufacturing and the government. Arizona is also a major copper producer.
POPULATION OF ARIZONA
The U.S. Census Bureau data shows the population in Arizona at about 7.27 million. 82.8% of the state’s residents identify as white, 31.6% Hispanic or Latino, 5.1% Black or African American and 3.7% Asian. English is most widely spoken, and about 20% of the population speaks Spanish.
Arizona has a growing immigrant community. The American Immigration Council estimates that 13.4% of Arizona’s residents were immigrants, and one in five self-employed business owners are immigrants who generate $1.865 billion in total annual revenue. The majority of immigrants come from Mexico, Canada, India, the Philippines and China.
COMPLETED EB-5 PROJECTS IN ARIZONA
Odyssey Preparatory Academy in Casa Grande cost $7.7 million, including $4.5 million in EB-5 funds, and created more than 100 jobs according to Green Card Fund regional center.
Santa Cruz Valley Regional Hospital, formerly known as Green Valley Hospital in Green Valley, cost $79 million, including $56 million in EB-5 funds from 112 investors, and created 1,200 jobs, according to Green Card Fund regional center.
Parkland Memory Care, an assisted living facility in Chandler, opened in 2018. The $10.6 million project investment included $2.5 million in EB-5 funds, according to Regional Centers Holding Group.
Luhrs Downtown Marriott opened in Phoenix in 2017. The project involved EB-5 funding, according to Green Card Fund.