THE PROGRAM

Job Creation through the Pennsylvania Regional Center

photo_customers.jpgOne of the most important advantages for immigrant investors applying for an EB5 investor visa through a regional center such as the Pennsylvania Regional Center is that they may satisfy the Program's job creation requirements by counting not only direct jobs created as a result of his or her investment, but also indirect jobs created in related industries as a result of the investment. Regional centers are able to calculate indirect job creation through the use of approved input-output employment modeling systems.

Each project is required to provide a detailed job creation forecast based on a business plan specifying its employment needs, which are then carefully reviewed and evaluated by DCED prior to their recommendation of the project to the Pennsylvania Regional Center. Throughout the life of the project, the creation of these direct jobs are closely monitored by DCED on a semi-annual basis, using DCED's own job reporting forms, which are also used for DCED's federal, state and city funded programs. These job reporting forms are supplemented by the project's employment records.

The Pennsylvania Regional Center's approved job multiplier is the Regional Input-Output Modeling System (RIMS) II, which is developed and maintained by the U.S. Bureau of Economic Analysis (BEA), a division of the U.S. Department of Commerce. We use the multipliers to calculate the number of jobs created by each limited partnership's investment project.

Please see below for an example using the RIMS II multipliers to determine indirect job calculations.

EXAMPLE:

In order to determine the number of indirect jobs that will be created by the proposed PA Metal Project, the RIMS II direct-effect multiplier tables for the Allegheny region were used, specifically the multiplier reference for Miscellaneous fabricated metal product manufacturing, which is 332999. It is anticipated that 128 direct jobs will be created as a result of the opening of the PA Metal Project. The indirect job effect of the completion of the PA Metal Project can be determined by multiplying 128 by the multiplier in reference 332999 in the direct-effect multiplier table, 2.1700, so the total impact on the economic area is 2.1700 times 128, which equals 277.76 or 277. This is the total number of jobs created in the economic area as a result of the completion of the PA Metal Project. Subtract 128 from 277 yields 149, which represents the new jobs created in other industries in the area or the indirect jobs created by the completion of the PA Metal Project. Alternatively, the number of indirect jobs can be calculated by multiplying 128 with 2.1700 minus 1.0 or 1.1700 (1.0 represents the Direct Jobs, 1.1700 represents jobs elsewhere in the economic area per 1.0 Direct Jobs).

Thus, 128 new direct jobs and 149 indirect full-time jobs in related industries or a total of 277 new jobs are forecasted to result from the investment in the PA Metal Project.

For more information from the BEA about RIMS II, please click here.

For more information about RIMS II, please click here for a copy of the RIMS II Handbook, published by the BEA.

For a copy of the RIMS II multipliers for the Allegheny County, which contains the largest metropolitan area within the Pennsylvania Regional Center, by aggregate industries, please click here.

United States Citizenship and Immigration Services

Under the Homeland Security Act of 2002, the U.S. Immigration and Naturalization Service (INS) was transitioned into the Department of Homeland Security (DHS) on March 1, 2003. All service and benefit functions of the INS, including responsibility for regulations governing the U.S. Immigrant Investor Pilot Program, were transferred to the U.S. Citizenship and Immigration Services (USCIS), which was established within DHS. In January 2005, USCIS established the Investor and Regional Center Unit (IRCU) to oversee and administer all aspects of the EB5 investor visa category and the Pilot Program.

The USCIS is responsible for the administration of immigration and naturalization adjudication functions and establishing immigration services policies and priorities. USCIS allows the DHS to improve the administration of benefits and immigration services for applicants by exclusively focusing on immigration and citizenship services. Fifteen thousand (15,000) federal employees and contractors working in approximately 250 headquarters and field offices around the world comprise the USCIS.

For additional information regarding the U.S. immigrant investor program, please visit the USCIS website on "Immigration through Investment."

Investment

 

 

 

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