EB-5 Success Stories
EB-5 projects improving communities
Since the 2008 financial crisis, EB-5 investment has offered an indispensable source of capital for economic development projects, large and small, all across the country. In fact, between 2008 and 2015, a total of $20.6 billion in foreign direct investment was generated by the EB-5 Program – that is $2.6 billion annually in capital investment at not cost to the U.S. tax payer.
To better understand the catalytic impact of EB-5 investment on regional economic development, we welcome you to take a closer look at the interactive map and project descriptions below. These projects bring to life the real work EB-5 is doing around the country to bring jobs and development to communities, all at zero cost to the taxpayer. We welcome you to explore EB-5 investments further by downloading state-level economic impact summaries, which highlight successful EB-5 projects that are improving American communities.
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Historic preservation and repurposing of a vacant historic building in transitioning urban district in Massachusetts. This project transformed the building into lofts, a renowned restaurant and 2 floors of commercial office space to serve and attract local businesses, while preserving historic charm of the building. The area has turned from an urban no-man’s-land to a thriving commercial and cultural sector.
Rehabilitation of an old dress factory in a multi-cultural urban Massachusetts neighborhood into a recording and practice space for local artists and musicians. The studio has provided a boost to the local economy by attracting 300-400 artists each week to utilize the facility. It has also increased revenue and jobs in other area businesses by attracting a new population to the neighborhood.
Ski resort expansion in central New Hampshire whose investment increased the resort’s ski terrain and ski lift capabilities to support 30% more skiers, thus increasing the small town’s tourism capacity. It also funded the construction of a new lodge, including a new hotel, spa, and condominiums to accommodate the increase in visitors to the resort and employing more local and surrounding residents.
In its first phase of a massive revamp of shopping center with proximity to New York City, this development will create convenient access to the city for commuters while providing reasonably priced housing. It also will have a 20% affordable housing component, public green space and provide improvements to the surrounding community, solidifying its impact to the growing suburban town.
The redevelopment of the government-owned Navy yard was a key element of New York City’s plan to spur economic growth, refurbish its industrial manufacturing sector and create jobs. The Navy yard underwent a complete infrastructural overhaul and is home to over 330 industrial and creative business and is a model for sustainable urban industrial parks.
The preservation of a shipyard on the outskirts of Philadelphia transformed the facility into a state-of-the-art commercial shipbuilding facility, conserving and attracting quality manufacturing jobs to the Mid-Atlantic region. The facility has established a reputation as the preferred provider for construction of oceangoing vessels.
A $122 million investment helped fund the expansion of the Pennsylvania Convention Center, a multi-use public facility, to nearly double its original size. The expansion spurred the attraction of more events to the city and therefore more visitors. The development further spurred a boom of the city’s hospitality industry and economic growth for surround businesses.
A Mid-Atlantic transportation system used EB-5 funds to facilitate new payment technology to bring the transit system into the 21st Century. The new system allows customers to make fare payments directly to a credit or debit card account or prepaid cards. Build out included new vending machines, turnstiles, and advanced computer equipment to make for a more efficient commuting experience.
A mixed-use development in the heart of Brooklyn that brings the community together with a large public green space, a public library branch and a full grocery store, just steps away from several subway lines. The development includes 20% affordable housing in a nearly 400 unit apartment building and also has capacity for residents and the public to enjoy and appreciate the arts with functional space for performances and exhibits.
A $75 million EB-5 investment helped with the development of an ethanol biorefinery plant in rural North Dakota. The project included the improvement and recommissioning of an existing power plant required to service the ethanol plant which produces clean, renewable energy, excellent local jobs and supports local corn growers. It was the result of the collaboration of many public and private partners and the plants has plans for expansion in the future.
The revitalization of Cleveland’s riverfront into a bustling urban center brought business back to the area after decades of disrepair and created over 2,000 jobs in this modest Midwestern city. It also influenced development in surrounding areas and is now a place people come to work, live and socialize.
The rehabilitation of old and construction of new facilities in Northeast Ohio to house one of the area’s largest company’s headquarters. This long-standing local job creator was able to expand and improve its business instead of moving its operations out of state. The redevelopment resulted in a complete reinvention of a neighborhood with a rehabbed theater turned concert venue, new apartments, retail and additional office space.
Converting an old brewery in Milwaukee, this building now has a 90-room hotel with extended stay and traditional hotel options available as well as a full-service restaurant. The six-floor hotel maintained many of the historic building’s original features and charm. It has won awards for historic restoration and the Mayor’s Design Award and operates with several thoughtful “green” initiatives.
A 98,000 square foot facility that houses water-centric research facilities in Milwaukee for universities, water-related companies and accelerator space for emerging water technology companies. This development was an important milestone as it established a headquarters for The Water Council and a platform to grow Wisconsin’s water technology cluster. It currently boasts over 40 organizations as tenants.
Expansion of a Midwest diesel fuel jet engine manufacturing facility. The project brought high-quality engineering jobs to the area as well as other employees and works with a local technical college to train new workers with the appropriate skills set to be hired at the facility after graduation. The diesel engines improve jet fuel economy and reduce emissions while the facility has expanded the local economy of its home in a small Midwest city.
After 10 years of vacancy, historic courthouse transformed into innovative hotel in Tampa. The city of Tampa had spent a decade paying for air conditioning in this facility to keep the mold at pay and for years city leaders had floundered in how to utilize the space. Now this Florida Ave. landmark hotel is a shining success of cultural historic integration into the surrounding community.
The largest production studio between NM and GA, located in Algiers Louisiana, is poised to make a major impact on the community. Due to strong community support for film production in the state through things such as tax credits, having a major facility studio in Louisiana’s backyard will separate the state from others in the market.
This project in the Port of Baltimore has doubled capacity of the terminal and paved the way for the installation of four super post-Panamax cranes, the largest container cranes in the world. The upgrades make Baltimore one of only two ports on the east coast able to accommodate the increased traffic of larger ships and shipping containers traveling to the U.S. after the Panama Canal expansion.
After the closure of a Bethlehem Steel Mill, this port development with deep water berths, rail infrastructure and highway proximity, this port project is the largest and most strategically important multi-modal industrial tract on the eastern seaboard and has brought back life to an area that had not seen it in decades.
This project is the result of a redevelopment of an abandoned saw mill into the first land-based casino in Mississippi. After stalled plans in 2008 due to the financial crisis, EB-5 was able to be used as an attractive alternative form of financing to allow the project to continue and was able to open in 2012.
North Carolina is a major hub for global exportation of refrigerated pork and poultry products and a major player in the protein production export business, by utilizing this newly created cold storage facility in the Wilmington Port, protein producers will be able to save a substantial amount on transportation costs to ship to their existing markets abroad. Having access to this facility will reduce spoilage, and increase delivery/export times for customers and businesses in North Carolina.
This boutique hotel helped spur the revitalization of the Cedars neighborhood of Dallas, a largely neglected area that formerly had a poverty rate of over 40%, high unemployment and a family income of less than half of the area’s median income. Once a manufacturing building, the hotel is now a bustling centerpiece of this thriving Dallas neighborhood.
Constructed in 1881, this Market in Shaw was one of Washington, D.C.’s three original outdoor farmer’s markets. In recent decades, the Market, like the surrounding Shaw neighborhood, fell into disrepair. With the help of EB-5 financing alongside HUD loans and private investment, the market was preserved and converted into a thriving mixed-use development consisting of the largest supermarket in the district and additional retail, three residential buildings, a hotel, a senior housing facility, an underground parking garage, and outdoor public space.
Opening in August of 2011, this preparatory charter school in Casa Grande, Arizona has a visionary curriculum that other local schools have started adopting in the short time since it has opened. Its scholars take both band and foreign languages and the academic bar is set at nothing short of excellence.
The redevelopment of an old Naval Shipyard into a new neighborhood in the southeastern corner of San Francisco. Since the 19060s this area has been cited as a significant example of marginalization. Up until 2011 it remained one of the most economically disadvantaged areas of San Francisco and highly segregated. The shipyard’s toxic waste pollution also had causes elevated rates of respiratory diseases.
Expansion of this firearms training institute in Incline Village, Nevada includes expanding the facility along with new infrastructure improvements, such as: paving; sewers and electrical improvements. The construction of the FSRVC will include 102 residential units, 150 RV pads, office buildings, classrooms, retail, and more providing jobs in a remote area of Nevada.
Located just 18 miles from the new Tesla Gigafactory, this Casino will be a premier destination resort that combines unique gaming, dining, live entertainment, and hospitality for guests. Building out surrounding attractions in the vicinity of the new Gigafactory has been a priority for Nevada and this development will aid in that effort.
A retirement community in rural Whatcom County that allows seniors to retire by downsizing and minimizing the upkeep of a traditional home while still maintaining an active lifestyle. Residents have access to indoor and outdoor activities on the property as well as close proximity to all the recreation the region has to offer. The facility also offers home healthcare and lifestyle services.
Disclaimer: This page is not provided or intended as an endorsement by IIUSA of any particular EB-5 project or Regional Center. Information included on this page is for illustration purposes only and offered based on publicly available information from sources including but not limited to: media reports, websites, and marketing materials. Any details or other information regarding particular EB-5 projects should not be viewed as complete or exclusive information. Projects shown on this page represent a non-comprehensive sample of projects that are known to IIUSA, which include past EB-5 projects and are not inclusive of all relevant data.
Information included on this map is for discussion purposes only. It is displayed to the best of our knowledge and based on publicly available information. Nothing on this web page may be considered an offer or solicitation to purchase a security.
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