A TEA is an area which is an area that, at the time of investment, is a rural area or an area experiencing unemployment of at least 150 percent of the national average rate . The minimum qualifying investment either within a high-unemployment area or rural area in the United States is $500,000, otherwise a $1 million investment is required to satisfied capital investment requirements.
Prior to the new TEA web portal, applicants for the EB5 program were required to search through a series of spreadsheets and different websites to determine if their project was located in a qualifying Targeted Employment Area. Applicants can now enter in a project address and quickly determine whether it would qualify as a TEA or, if necessary, create a qualifying TEA under the state’s policy and guidelines. The new online database also allows for quicker response times from GO-Biz and more certainty for the applicants.