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EB-5 Finance Resource Center

The EB-5 program is a federally-authorized visa category created by Congress in 1990. The primary concept is to encourage foreign investment in job-creating U.S. economic development projects or companies in return for a U.S. green card. These projects or companies must create or retain 10 full-time jobs in the states, and a minimum investment of $1M is required. This investment can be reduced to $500K, if the investment is made in a high unemployment or rural area. Once the investment in a qualifying project or company has been made, the investor receives a conditional green card for two years. After two years, the investor must prove that their investment has been maintained, and that the 10 jobs continue to exist. At this point, the conditional status is removed.

EB-5 projects are typically financed through Regional Centers, which can accept the investment from the green card-seeking investor. The U.S. government sets aside 10K green cards each year for foreign investors participating through designated Regional Centers. The centers invest in projects that meet all of the program criteria. Using the EB-5 program is not simple, and there are significant investment and timing rules that must be followed. These rules can mean the difference between an investor receiving a green card or being deported. Consult and work only with reputable and qualified Regional Centers, immigration lawyers, and project finance experts. EB-5 financing is available in every state and city in the country.

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-Understanding EB-5 Finance

The EB-5 Visa program can be a useful tool for development finance professionals. This section contains resources on understanding the basics of EB-5.

Making the Most of EB-5 in MissouriMembers only Login
The EB-5 Program is a federal foreign direct investment, immigration, and regional economic development program that provides access to capital to U.S. businesses and creates American jobs at no expense to the American taxpayer. Use of the program has rapidly gained momentum in the last few years throughout the country, and Missouri is no exception. Matthew Hogan and Kraig Schwigen of CMB Regional Centers and Mariza McKee of Kutak Rock LLP share basics of the program, case studies and considerations for using this valuable tool in Missouri.
Assembling Capital for Mixed-Use DevelopmentMembers only Login
Thomas Porter, Director of Commercial Lending at the Vermont Economic Development Authority, discusses unique development financing solutions for mixed-use development.
Making the Most of EB-5 in OhioMembers only Login
The EB-5 Program is a federal foreign direct investment, immigration, and regional economic development program that provides access to capital to U.S. businesses and creates American jobs at no expense to the American taxpayer. Use of the program has rapidly gained momentum in the last few years throughout the country, and Ohio is no exception. Kostas Poulakidas of Taft Stettinius & Hollister LLP, David Black of Ulmber & Berne LLP, and Stephen Strnisha of Cleveland International Fund share basics of the program, case studies and considerations for using this valuable tool in Ohio.
Lincoln Stone, Foreign Direct Investment and the EB-5 ProgramMembers only Login
Lincoln Stone discussed the latest on EB-5 in California and how it is used in various regions of the state.
Funding Brownfield Projects with EB-5 Program
This article from Schnapf, LLC examines the EB-5 program and how can provide alternative financing for brownfield redevelopment.

-Resources

View all EB-5 Resources

-Marketing Examples

Making the Most of EB-5 in MissouriMembers only Login
The EB-5 Program is a federal foreign direct investment, immigration, and regional economic development program that provides access to capital to U.S. businesses and creates American jobs at no expense to the American taxpayer. Use of the program has rapidly gained momentum in the last few years throughout the country, and Missouri is no exception. Matthew Hogan and Kraig Schwigen of CMB Regional Centers and Mariza McKee of Kutak Rock LLP share basics of the program, case studies and considerations for using this valuable tool in Missouri.
Funding Brownfield Projects with EB-5 Program
This article from Schnapf, LLC examines the EB-5 program and how can provide alternative financing for brownfield redevelopment.
What TEA Projects Might Look Like Under EB-5 2.0Members only Login
In a working paper published by the NYU Stern School of Business, authors Jeanne Calderon and Gary Friedland explore how targeted employment projects would evolve if proposed EB-5 rule changes are passed by Congress.
Financing Private Healthcare in ArizonaMembers only Login
Kutak Rock's Timothy Nash discusses methods to finance private healthcare facilities, highlighting various financing tools such as grants, tax credits, EB-5, and others.
View more EB-5 Marketing Examples Resources

-Policies & Procedures

Making the Most of EB-5 in MissouriMembers only Login
The EB-5 Program is a federal foreign direct investment, immigration, and regional economic development program that provides access to capital to U.S. businesses and creates American jobs at no expense to the American taxpayer. Use of the program has rapidly gained momentum in the last few years throughout the country, and Missouri is no exception. Matthew Hogan and Kraig Schwigen of CMB Regional Centers and Mariza McKee of Kutak Rock LLP share basics of the program, case studies and considerations for using this valuable tool in Missouri.
Making the Most of EB-5 in OhioMembers only Login
The EB-5 Program is a federal foreign direct investment, immigration, and regional economic development program that provides access to capital to U.S. businesses and creates American jobs at no expense to the American taxpayer. Use of the program has rapidly gained momentum in the last few years throughout the country, and Ohio is no exception. Kostas Poulakidas of Taft Stettinius & Hollister LLP, David Black of Ulmber & Berne LLP, and Stephen Strnisha of Cleveland International Fund share basics of the program, case studies and considerations for using this valuable tool in Ohio.
Funding Brownfield Projects with EB-5 Program
This article from Schnapf, LLC examines the EB-5 program and how can provide alternative financing for brownfield redevelopment.
View more EB-5 Policies & Procedures Resources

-Regulatory & Legal

Making the Most of EB-5 in MissouriMembers only Login
The EB-5 Program is a federal foreign direct investment, immigration, and regional economic development program that provides access to capital to U.S. businesses and creates American jobs at no expense to the American taxpayer. Use of the program has rapidly gained momentum in the last few years throughout the country, and Missouri is no exception. Matthew Hogan and Kraig Schwigen of CMB Regional Centers and Mariza McKee of Kutak Rock LLP share basics of the program, case studies and considerations for using this valuable tool in Missouri.
Funding Brownfield Projects with EB-5 Program
This article from Schnapf, LLC examines the EB-5 program and how can provide alternative financing for brownfield redevelopment.
What TEA Projects Might Look Like Under EB-5 2.0Members only Login
In a working paper published by the NYU Stern School of Business, authors Jeanne Calderon and Gary Friedland explore how targeted employment projects would evolve if proposed EB-5 rule changes are passed by Congress.
Bluegrass International FundMembers only Login
Lynn Allen from Bluegrass International Fund (BiF) explains the depth and diversity behind EB-5 bonds and their varied uses.
View more EB-5 Regulatory & Legal Resources

-Case Studies

CDFA Charter Schools Financing Initiative: Development Finance Strategies for Charter Schools
CDFA's first publication of the CDFA Charter Schools Financing Initiative series, funded with support from the National Alliance For Public Charter Schools. This paper demonstrates how charter schools can access development finance tools and public finance and provides real-world examples of how these tools have been successfully implemented.
Making the Most of EB-5 in MissouriMembers only Login
The EB-5 Program is a federal foreign direct investment, immigration, and regional economic development program that provides access to capital to U.S. businesses and creates American jobs at no expense to the American taxpayer. Use of the program has rapidly gained momentum in the last few years throughout the country, and Missouri is no exception. Matthew Hogan and Kraig Schwigen of CMB Regional Centers and Mariza McKee of Kutak Rock LLP share basics of the program, case studies and considerations for using this valuable tool in Missouri.
Assembling Capital for Mixed-Use DevelopmentMembers only Login
Abby Goldenfarb discusses unique development financing solutions for mixed-use development.
The Ark Project at JFKMembers only Login
JFK International Airport’s latest redevelopment project is a unique one: a $65 million, 178,000 square foot state of the art facility for pets. The Ark at JFK will offer pre-flight micro-chipping, kennels, an aviary, and more. This large-scale project employed a creative financing approach that required a number of years to execute.
Making the Most of EB-5 in OhioMembers only Login
The EB-5 Program is a federal foreign direct investment, immigration, and regional economic development program that provides access to capital to U.S. businesses and creates American jobs at no expense to the American taxpayer. Use of the program has rapidly gained momentum in the last few years throughout the country, and Ohio is no exception. Kostas Poulakidas of Taft Stettinius & Hollister LLP, David Black of Ulmber & Berne LLP, and Stephen Strnisha of Cleveland International Fund share basics of the program, case studies and considerations for using this valuable tool in Ohio.
View More Case Studies

-Headlines

-Publications

Practitioner's Guide to Economic Development Finance
The Practitioner's Guide to Economic Development Finance 2nd Edition is the only comprehensive resource dedicated to building and utilizing the development finance toolbox. The Practitioner's Guide provides the insight and practical information needed to critically understand how economic development is financed and the tools, strategies and techniques used to build strong communities. From bonds, tax increment finance and special districts to tax credits, seed & venture capital, revolving loan funds and much more, this Guide outlines the financing tools required for succeeding in today's competitive economic development climate.
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-Webcasts

CDFA // BNY Mellon Webcast Series: Capturing the Success of High Performing DFA'sMembers only Login
This month’s CDFA // BNY Mellon Development Finance Webcast Series on Capturing the Success of High Performing DFA's featured Tim Fisher of CDFA, Paul Toth of Toledo-Lucas County Port Authority, Gary Smith of Chester County Economic Development Council, Samuele Bozzolla of Allegheny County, and Juan Salgado of Phoenix Industrial Development Authority.
CDFA Kentucky Webcast: Understanding the EB-5 Model in KentuckyMembers only Login
During this CDFA Kentucky Financing Roundtable Webcast in partnership with the Bluegrass International Fund, President & CEO Lynn Allen and Executive Director of IIUSA, Peter Joseph explored the EB-5 Model in Kentucky. 
CDFA // BNY Mellon Webcast Series: The Emergence of EB-5 and BondsMembers only Login
This webcast delved into the possible combination of bonds and EB-5 as financing tools for development by panelists Angelique Brunner of EB-5 Capital and Peter Joseph of IIUSA.
How California is Making the Most of EB-5
In this CDFA webcast, our expert panelists including Peter Joseph of IIUSA, Mariza McKee with Kutak Rock, and Kraig Schwigen with CMB Regional Centers present on the impact being made by EB-5 in California, key rules and regulations, and considerations for incorporating EB-5 into potential projects.
CDFA-Stifel Nicolaus Innovative Deals Webcast Series: HotelsMembers only Login
The recent economic environment has made hotel development difficult. Now, many deals are being financed with creative uses of funds, including bonds, tax credits, and EB-5. This webcast, DJ Effler of Bellwether Enterprise, Laura Radcliff of Stifel Nicolaus, and Angel Brunner of EB5 Capital discussed the latest in hotel development, showcased recent ground-breaking deals, and evaluated how the financing was assembled.
View More Webcasts

CDFA National Sponsors

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
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  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
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