The North Dakota/Minnesota EB-5 Regional Center received approval from the United States Citizenship and Immigration Services in 2011, which was later amended in 2014. USCIS Approval Letter and Amendment
The current geographic area for the North Dakota/Minnesota EB-5 Regional Center includes the entire state of North Dakota and Minnesota. The states of North Dakota and Minnesota were selected as the North Dakota/Minnesota EB-5 Regional Center’s designated area after carefully researching the growing number of attractive investment opportunities located within this geographical region. Strategically, the majority of the counties are considered Targeted Employment Areas (TEA). The counties are considered TEA because of their sparse population and rural nature (population of less than 20,000). The counties will likely to remain TEA zones even with the incredible economic growth. TEA classification lowers the minimum amount per foreign EB-5 investors, making projects in TEA locations more attractive. Not without noting, foreign investment in these counties can significantly strengthen the regional economic environment, as well as generate a substantial number of direct and indirect jobs.
Map of the United States
The North Dakota/Minnesota EB-5 Regional Center is approved in the following industry sectors:
Accommodation and Food Services Hotel chains and temporary housing providers are attempting to meet the housing and lodging need, but the influx of people into the western part of the North Dakota has made it next to impossible to keep the housing supply up to demand. Yet, it isn’t just oil that’s bringing people to North Dakota. Tourism pumps millions of dollars into every county and continues to be one of the leading industries. For the past five years, traveler spending in North Dakota has grown faster than the national average.
Agribusiness North Dakota and Minnesota lead the nation in agribusiness, ranking as top producers of important crops, including potatoes, sugar beets and sunflowers.
Aviation/Aerospace North Dakota is becoming a major player in the study and testing of Unmanned Aerial Vehicles (UAVs), as the Grand Forks Air Force Base was designated as one of the United States Air Force’s UAV bases. In addition, the University of North Dakota’s (UND) aviation program is recognized as the world’s premier post-secondary aviation program and trains many of Asia’s commercial pilots and air traffic controllers.
Biotech/Bioscience The region plays a significant role in biotechnology and its developing industries through emerging firms and research at the university level.
Construction and Real Estate Development The North Dakota and Minnesota region was insulated from much of the mortgage lending turmoil that unsettled the rest of the United States. Hence, real estate development continues to grow across the region. There is a vast shortage for multi-use housing developments, hospital expansion, clinics, hotels, and assisted living facilities given North Dakota’s fast growing population due to the oil and commodities boom.
Health Care and Social Assistance As the Baby Boomer generation continues to age, the demand for nursing homes and assisted living facilities has increased both in North Dakota and Minnesota. Additionally, the inflow of workers and their families to western North Dakota has put a tremendous strain on the rural region’s small hospitals.
Information Technologies/Communications North Dakota and Minnesota pride themselves on the continued expansion of information technology companies throughout the region. In fact, the region is home to one of Microsoft and Amazon campuses.
Manufacturing North Dakota is the location for the largest manufacturer of private airplanes, as well as a manufacturer of blades for a major worldwide wind generation company. Manufacturing of machinery, particularly construction and farm machinery, also plays a significant role in the economics of North Dakota and Minnesota.
Real Estate Development North Dakota and Minnesota continue to see increased construction of new homes, hotels, retail spaces, office space, and infrastructure. Specifically in western North Dakota, the rise in construction has resulted in increased demand for construction machinery and equipment rentals, transportation, and mining machinery and equipment. Despite the building and development efforts thus far, the arrival of oil workers, their families, and other service workers has resulted in a much greater demand for apartment and home leases than western North Dakota has to supply.
Transportation and Warehousing The rapid growth in western North Dakota has led to a continued need for transportation infrastructure expansion. North Dakota’s rail industry is fighting to keep up with demand for transloading and warehousing facilities. Dozens of roads are being completed daily as the oil service industry expands into previously inaccessible areas of rural North Dakota. Additionally, the number of oversize and overweight trucks using roads and bridges has more than doubled over the past three years.
Utilities Due to a large production of power within North Dakota, the price paid for electricity in North Dakota in 2006 was among the lowest in the nation. In fact, on average, electricity costs half as much as it does in the New England states.