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.
NORTH DAKOTA ECONOMY: Agriculture is North Dakota’s largest industry, although petroleum, food processing, and technology are also major industries. Its growth rate is about 4.1%. According to the U.S. Bureau of Economic Analysis the economy of North Dakota had a gross domestic product of $55.180 billion in the second quarter of 2018. The per capita income for the state was $34,256, when measured from 2013 to 2017 by the United States Department of Commerce.The three-year median household income from 2013 to 2017 was $61,285.
RURAL TEA COUNTIES IN NORTH DAKOTA:
- Adams
Barnes
Benson
Billings
Bottineau
Bowman
Burke
Cavalier
Dickey
Divide
Dunn
Eddy
Emmons
Foster
Golden Valley
Grant
Griggs
Hettinger
Kidder
LaMoure
Logan
McHenry
McIntosh
McKenzie
McLean
Mercer
Mountrail
Nelson
Oliver
Pembina
Pierce
Ramsey
Ransom
Renville
Richland
Rolette
Sargent
Sheridan
Sioux
Slope
Stark
Steele
Stutsman
Towner
Traill
Walsh
Ward
Wells
Williams
INTERACTIVE RURAL TEA MAP
