Pennsylvania Rural TEA
The Definition of a RURAL TEA:
- An area not located within a metropolitan statistical area (MSA) 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 based on the most recent census.
What does a rural TEA mean for industry professionals and investors?
The RIA Act of 2022 created a unique set aside for areas designated as RURAL.
A project that is located in a rural TEA qualifies for priority processing of Form I-526 by United States Citizenship and Immigration Services. These investors will qualify for set-aside visas from the rural TEA classification, which makes up 20% of the yearly allocation of EB-5 visas.
EB-5 MARKET IN PENNSYLVANIA:
Pennsylvania is among the top U.S. states in attracting EB-5 investments and foreign investors. From 2010 to 2015, the state of Pennsylvania had EB-5 investments of $820 million that created more than 15,500 American jobs. This translates to a contribution of $1.37 billion to the nation's GDP and $250 million to U.S. tax revenues, according to EB-5 Economic Impact Studies. As of May 2020, there are 64 approved regional centers in Pennsylvania as reported by USCIS.
Located in the center of the East Coast and home to many globally recognized universities and research institutes, Pennsylvania boasts rich natural resources, abundant cultural heritage, innovative businesses and an educated workforce. With an inviting business climate, many Fortune 500 companies choose Pennsylvania as their headquarters.
Pennsylvania is the world’s 19th largest economy with a GDP larger than Saudi Arabia and Switzerland, according to the state. Key industries in Pennsylvania include natural gas, manufacturing, agribusinesses, life sciences and tourism. The cost of living in Pennsylvania is below the national average.
RURAL TEA COUNTIES IN PENNSYLVANIA:
INTERACTIVE RURAL TEA MAP