I am interested in rural areas subject to the $500,000 threshold for EB-5, specifically in the state of Virginia. Is there a list of such areas available? How are these rural areas defined? If an area has already been deemed rural for EB-5 purposes in the past, would I have to get it re-designated?
Answers
Ed Beshara
Immigration attorneysIt is always advisable to obtain updated information from the state to clarify the rural locations within the state.
Fredrick W Voigtmann
Immigration attorneysOutside of a MSA and less than 20,000 population.
Salvatore Picataggio
Immigration attorneysPut simply, a rural area must be both outside of a defined metropolitan statistical area (MSA) and outside of a city or town having a population of 20,000 or more.
Barbara Suri
Immigration attorneysThe project must principally do business in a TEA at the time of the immigrant's investment for the minimum amount to be $500,000. Certification of TEAs is based on high unemployment, and is left to the states. To determine whether census tracts (CTs) have high unemployment, most states use the “census share” technique. Those that rely on the 2010 census tract boundaries must use the most recent labor force data available. Rural areas are basically defined as areas located outside a Metropolitan Statistical Area (MSA).
John J Downey
Immigration attorneysA rural area defined for EB-5 purposes is any area not within either a metropolitan statistical area (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. You need to prove your area in your application even if it has been designated previously. You need to check with the appropriate government agency in Virginia to see if they can produce a letter.
Robert Lee
Immigration attorneysVisit VirginiaLMI.com - Targeted Employment Areas. It should list the areas.
Jinhee Wilde
Immigration attorneysThe rural area is defined as less than 20,000 population to be a TEA. The TEA based on the census track is usually designated by the State economic development agency annually.
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