EB-5 MARKET IN OREGON
Oregon has experienced a fast growth in its EB-5 industry since 2011, when the state's first EB-5 regional center was approved by USCIS, As of June 2020, there are 20 USCIS-designated regional centers operating in Oregon. From 2010 to 2015, Oregon attracted $80 million worth of EB-5 capital that has created 580 American jobs. These funds helped generate $70 million in GDP and $10 million in tax revenue for the U.S. economy, according to EB-5 Economic Impact Studies.
With its diverse landscape, affluent natural resources and friendly business climate, Oregon boasts a strong economic ecosystem that supports innovation, investment and development. Semiconductors, aviation, manufacturing, food production and wood products are the pillar industries of the local economy. Oregon ranks among the top five U.S. states in terms of GDP increase rates and personal income growth from 2005 to 2015, as estimated by the U.S. Department of Commerce. In 2019, Oregon saw a GDP of $222.4 billion, a 2.7% rise comparing with the number of 2018.
Oregon’s attractiveness to foreign investors and entrepreneurs shines most when its favorable business tax regime is considered. Business owners in Oregon can enjoy one of the lowest effective tax rates among all U.S. states and benefit from the state’s flexible tax policies on out-of-state corporate income. Oregon is also an attractive place for immigrants to raise their families thanks to its low cost of living and zero sales taxes.
POPULATION OF OREGON
Oregon has a population of 4.2 million, with 86.8% identified as white, 4.8% as Asian and 2.2% as African American, according to the U.S. Census Bureau. More than 90% of Oregon's residents have high school diplomas, and 33% of its population hold bachelor’s or higher degrees.
With 9.9% of the state residents born abroad, Oregon has been viewed by numerous immigrants as an easy-to-settle-down state. Many of them have been warmly embraced by Oregon’s diverse communities and successfully accustomed to the American life, as more than 40% of immigrants living in Oregon have chosen to naturalize, reported by the American Immigration Council. Immigrant workers comprised 13% of the state’s labor force and contributed $4.1 billion to federal, state and local taxes in 2018.
COMPLETED EB-5 PROJECTS IN OREGON
The Marriott Residence Inn, located at the renowned Pearl District in Portland, was Oregon’s first EB-5-supported project. Sponsored by EB5 Global, the 223-room hotel was completed and opened in 2014. Its success was made possible by the $45 million EB-5 capital raised from 88 foreign investors.
The Pearl Office Building, also located at the Pearl District – Portland’s most famous urban redevelopment region – was completed and opened for business in 2018. This 9,500-square-foot Class A office complex was partially funded by EB-5 capital from 18 foreign investors.
Portland Hilton Canopy received $15.5 million in funding from 31 EB-5 investors through EB5 Capital regional center. The project is a Hilton-branded boutique hotel in Portland’s Pearl District. It is one of the first Hilton Canopy hotels in the U.S.