Bluegrass International Fund (BiF) received its designation as an EB-5 Regional Center from the US Citizenship and Immigration Service (USCIS) in 2014. BiF investments will focus on job-creating real estate projects in the following areas, which we believe to be the most suitable for our region:
- Mixed-use developments
- Biomedical and healthcare
- Research and education
- Advanced manufacturing
In addition to sourcing and managing projects and structuring financing, BiF will market to overseas investors and provide visa/immigration support.
The USCIS created the EB-5 program to stimulate the US economy through job creation, made possible by capital investment of immigrant investors. USCIS defines an EB-5 Regional Center as “any economic entity, public or private, which is involved with the promotion of economic growth, improved regional productivity, job creation and increased capital investment.”
EB-5 investors may gain permanent residency for themselves and their immediate family by making an investment in a new enterprise, which must create or preserve 10 full-time jobs. Jobs may be either direct – actual jobs located within the enterprise in which the investor has invested; or indirect – jobs shown to have been created collaterally or as a result of capital invested by the EB-5 investor.
Economic impacts of the EB-5 immigrant investor program
Between 2005 and 2013, EB-5 programs nationally have attracted more than $6.5 billion in foreign direct investment, generating an estimated 100,000 full-time American jobs. In 2013 alone, and based on the most recently available data, the EB-5 program:
- supported 41,200 American jobs
- added $3.6 billion to the gross domestic product
- contributed $520 million in Federal tax
- provided $285 million in state and local taxes
- and in 2014 attracted $2.56 billion in foreign direct investment.