The economic development needs for our region are real…  2010 area unemployment numbers are high and business layoffs and closures are continuing to pose a problem throughout East Central Indiana – plus we fall below state and national numbers for per capita and household incomes.  It is imperative for East Central Indiana to continue to be innovative in the diversification of its economic base to one comprised of industries offering new investment, long-term stability, growth potential, and which best utilize the resources of the region.  Officials of Energize-ECI, Inc. have identified the U.S. Immigrant Investor Program (EB-5 Visa) as a program offering great opportunities and potential for encouraging foreign new-business investment within our nine-county area – including Blackford, Delaware, Fayette, Grant, Henry, Jay, Madison, Randolph and Rush counties.  This proven program is administered by the U.S. Department of Homeland Security.  With this important and under-utilized program come the benefits of new employment – both direct and in-direct positions, and new-business capital investment requirements designated by the program.  Energize-ECI, Inc. has applied to the United States Office of Homeland Security to be approved and certified to establish a federally designated U.S. Immigrant Investor (EB-5 Visa) Regional Center.  Of the more than 65 certified Regional Centers in the U.S., the nearest to us are located in areas of Illinois, Wisconsin, Michigan and Ohio.  East Central Indiana would gain recognition throughout the world as the first U.S. Immigrant Investor Program (EB-5 Visa) Regional Center in our state.  E. Roy Budd, Executive Director of Energize-ECI, Inc., commented, “Our EB-5 Visa Regional Center will promote business investment and economic development throughout East Central Indiana which will in turn create new jobs for Hoosiers in our nine-county area and beyond.  The application process forEB-5 Visa immigrant investors and their investments is very thorough and rigorous.” 

Goals of Energize-ECI, Inc. EB-5 Visa Regional Investment Center

• Establish an operating Regional Center in 2010
• Market our Regional Center program to people throughout the world, interested in becoming a U.S. Citizen through  the EB5 Visa   program
• Create new investment in the region
• Expand job creation opportunities – workforce development
• Position the region as a “hot spot” for international business investment
• Provide entrepreneurial opportunities for related businesses
• Develop greater diversification of the ECI and Indiana economies
• Provide for the development of targeted industry clusters
• Serve as a model for other Indiana regions

What is an Immigrant Investor EB-5 Visa Regional Center?

The U.S. Immigrant Investor Program is an employment-creation visa program made possible by Section 810 of Public Law 102-395 (October 6, 1992).  The program began in accordance with a congressional mandate aimed at stimulating economic activity and creating jobs for U.S. workers, while simultaneously affording eligible aliens the opportunity to be legal permanent residents (LPR).

The program provides for the issuance of conditional (two-year) green cards to federally approved accredited investors and their families (spouses and unmarried children under age 21 at time of application) who invest a minimum of $500,000 to $I,000,000 in a qualified project, within the designated target areas, and which creates a combined total of at least 10 full-time direct and/or indirect jobs.  After the initial two-year period, the Regional Center has an economist develop a study to determine if this investment meets all the federal guidelines.  Upon the satisfaction of this requirement, the investor’s legal representative files form I-829 with the United States Citizenship and Immigration Services (USCIS).  Upon approval, the conditional green cards become permanent.

The Pilot Program for Immigrant Investor (EB-5 Visa) Regional Centers is designed to promote the attainment of EB-5 Visas by foreign investors by facilitating, promoting and managing the program on a regional geographic basis. The EB-5 Visa provides the most direct path to Legal Permanent Residency (LPR) for foreign investors.  USCIS may issue up to 10,000 EB-5 Immigrant Investors Visas each year throughout the U.S.  5,000 of the EB-5 Visas are reserved for the EB-5 (Visa) Regional Centers.  Typically, they have only granted about 20% of the allotment, as the program and its benefits have not been well-publicized.  We see the program as an extremely beneficial addition to the economic development tool box for the nine counties of Energize-ECI, Inc., the State of Indiana and the United States.

There are two ways for a foreign investor to obtain an EB-5 Visa: he/she can make a direct investment into a business or make an investment into a federally approved Regional Center.  The direct investment is just that – an investment in any company, regardless of federal designations or approvals.  It is more difficult for a foreign investor to obtain LPR through the direct investment scenario.  Investment in a Regional Center increases the chances for a foreign investor to obtain LPR. 

Immigrant Investor EB-5 Visa Regional Center Responsibilities:

Regional Centers must submit information to the USCIS each federal fiscal year.  This information includes simple record-keeping data such as the name, birth-date, alien registration number, nationality, city and state of residence for each immigrant investor.  The Regional Center must also document its management activities, investor screening processes and investment supervision.  If a Regional Center has not attracted investors in any given reporting period, it must explain why and submit a plan for attracting investors.  Regional Centers must also notify the USCIS if they have made any changes concerning their structure, operation or administration that require an amendment of their approval notice.

Regional Centers also must calculate the total money invested through the Regional Center each fiscal year, as well as the total money invested into specific categories of business activities and the determination of how much money came from U.S. versus immigrant investors.  The Regional Center must also list the total number of jobs created and/or preserved, as well as the names and locations of each company that received immigrant investor’s money.  Finally, the Regional Center should indicate the number of I-526 and I-829 petitions approved that fiscal year.

“The opportunity is truly beautiful to individuals who want to live and contribute their energy in the United States…  And the EB-5 Program creates economic growth and especially jobs for Americans.”

-Maurice Berez, Program’s Chief Adjudications Officer – United States Citizenship
 and Immigration Services.  (From the Nov. 2nd 2007 edition of The Wall Street Journal )

Geographic Area - Participating Counties for Immigrant Investor EB-5 Visa Regional Center in East Central Indiana

            COUNTY             POPULATION          COUNTY SEAT

            Blackford                    13,189                      Hartford City

            Delaware                  115,419                       Muncie

            Fayette                        24,273                      Connersville

            Grant                            68,847                     Marion

            Henry                           47,181                     New Castle

            Jay                               21,514                     Portland

            Madison                    131,312                     Anderson

            Randolph                   25,859                       Winchester

            Rush                            17,494                     Rushville

Regional Centers in the Midwest

Illinois                         2

Michigan                    1

Ohio                          2

Wisconsin                  2

Prime Target Industries for Immigrant Investment EB-5 Visa

Regional Center Economic Development Activity

Advanced Manufacturing

            Agri-Business / Food Processing

            Alternative Energy / Green Technology

            Logistics & Distribution

            Information Technology

Role of Energize-ECI, Inc. Immigrant Investor EB-5 Visa Regional Center

• Provide EB-5 consulting services
• Identify and quantify investment projects as having the potential to meet federal and Energize-ECI, Inc. guidelines
• Prepare and provide all necessary documentation from beginning to end (utilizing outside professional services where necessary)
• Monitor qualified projects for job creation and other USCIS program requirements
• Comply with all federal guidelines under the Immigrant Investor
• EB-5 Visa Regional Center Program 

Benefits to Immigrant Investors

• May establish and operate a business in the U.S
• Qualified investors and their families (spouse and any unmarried children under age 21) are eligible for green cards after approval of their application
• May sponsor green cards for relatives
• Although investment must occur within a regional center’s geographic area, the investor and his/her family may live and work anywhere in the United States
• No minimum requirements as to the investor’s age, business training or experience or language skills
• Freedom from day-to-day business operations (if so desired)
• Ability to travel outside of the United States and return to the United States without having to apply for an additional visa
• Education benefits of permanent residents, including admission to state colleges and universities at resident's cost
• Eligible to become a U.S. Citizen once a permanent resident for more than 5 years, and meeting all USCIS requirements 

Expected Outcomes from EB-5 Visa Regional Investment Center

1. Increased capital investments within East Central Indiana
2. Program will bring additional higher paying jobs for the region, as each investment requires the creation of 10 new jobs (direct and/or indirect)
3. Establishment of an Immigrant Investor EB-5 Visa Regional Center will focus addition business attention to East Central Indiana
4. Help improve the quality of life in East Central Indiana through creating new, higher-paying jobs and bringing about new opportunities for the region
5. Encourages human capital development and retention of skilled and educated workers within  our 9-county region
6. Fosters the development and targeting of industry clusters within East Central Indiana to better align the area with growth-oriented technology industries
7. Provides a real opportunity for the region to rebuild its economic base and provides a spark to ignite future growth based on regional cooperation and partnerships within the region and with the IEDC. 

About Energize-ECI, Inc.

Energize-ECI, Inc. is a public/private partnership founded in 2005 to provide pro-active services and programs facilitating collaborations to encourage new business investment and bring new jobs to East Central Indiana and to address workforce and quality of life issues in the region.  Energize-ECI, Inc. acts as an initial point of contact for coordinating and promoting the many advantages of operating a business in the region, collecting and cultivating leads and assisting individuals, site consultants and companies researching the area.  Energize-ECI, Inc. answers inquiries regarding sites, buildings and regional information, directing the leads to the local economic development groups.  Energize-ECI, Inc. provides support for Blackford, Delaware, Fayette, Grant, Henry, Jay, Madison, Randolph and Rush counties. 

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Prepared by:
Tom Farris
765.254.0116
tfarris@energize-eci.org