North Dakota 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.
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:
INTERACTIVE RURAL TEA MAP