Main Menu
Speaking with One Voice: Navigating the complex federal process for an EB-5 Regional Center designation

The Regional Economic Development Organization case study recently released by Bingham Greenebaum Doll outlines the complex application process required for a federal EB-5 Regional Center designation. The case study also emphasizes how important it was for all of the partners involved in the project to come together and to speak with one voice.  An excerpt from the case study is below. To read the study in full, click here.

Excerpt from “Case Study: Regional Economic Development Organization” During a trip to China with Governor Mitch Daniels in 2008, a member of Beijing’s Chamber of Commerce asked Roy Budd about the federal EB-5 program. Budd is the founder and executive director of economic development group Energize-ECI in Muncie, and “EB-5” was not a term with which he was familiar. Back home, Budd began digging and quickly discovered that the EB-5 Regional Center model could be a game-changing tool to help bring jobs to East Central Indiana. He also learned that the road to being approved as a Regional Center would be a long, challenging one.

Congress created the EB-5 immigrant visa category in 1990 for qualified foreigners with an interest in business investments in the United States. The basic amount required to invest is $1 million, although that amount is reduced to $500,000 if the investment is made in a rural or high unemployment area through a designated Regional Center.

Andy Gruber became interested in the EB-5 Regional Center concept in the mid 2000s. As its potential to bring jobs to areas of Indiana wracked by high unemployment began to become clear, the wheels started to turn. Gruber is a partner at Bingham McHale who practices in the areas of labor and employment law. He started initiating conversations outside of his office in 2007, exploring who would be good partners, what the project would look like and where it could take a community if an EB-5 Regional Center designation were awarded.

To continue reading and find out how the EB-5 Regional Center came to fruition, click here.

  • Partner

    Andy is the Chair of the Labor & Employment Practice Group. Working exclusively in the areas of labor and employment law, Andy provides advice, counsel and litigation defense to employers in all areas of employment law, including ...

RSS RSS Feed

Subscribe

Recent Posts

Categories

Contributors

Archives

Back to Page