At BES, we do ALL the work ourselves with a built-in peer review process to minimize errors and omissions. We take a comprehensive and detailed approach when it comes to our clients’ interests. We offer a robust portfolio of services suitable to your goals.
EB-5 Immigrant Investor Program
Client Requirements for I-924 Regional Center Applications
EB-5 Job Creation Studies (IMPLAN and RIMS II)
Scope of Work
EB-5 Job Creation Feasibility Analysis (IMPLAN and RIMS II)
Barnhart Economic Services, LLC can conduct an economic job creation analysis to determine if your project(s) generates sufficient jobs to be financially feasible.
This will determine whether the project will create enough jobs to obtain the EB-5 capital needed. Just as in the full job creation study, a unique, multi-county economic model is built for your specific location.
Scope of Work
Targeted Employment Area (TEA) Designation
Barnhart Economic Services, LLC has obtained the national, corrected Local Area Unemployment Statistics (LAUS) data set from the Bureau of Labor Statistics. Therefore, we can construct TEA’s for any area in the United States.
What Is A TEA Designation?
A TEA or Targeted Employment Area is any contiguous set of census tracts encompassing either a rural area or an area experiencing unemployment of at least 150 percent of the national average rate.
High Unemployment Areas or Rural Areas
From 8 CFR 204.6 (i)
A high unemployment area may be designated by a state authority or independent economists if the unemployment rate is at least 150% of the national rate.
The Area may include a geographic area or subdivision within an MSA, a city, or town, i.e., can be as small as a Census Tract.
Rural Area: any area outside an MSA and outside the boundary of any city or town having a population of 20,000 or more.
What if My Census Tract is not a TEA?
We can construct a TEA using Census Tract data. However, it is necessary that surrounding areas have high unemployment rates while also having a large labor force. Surrounding Census Tracts with high unemployment but low numbers in the labor force will not help as these calculations are weighted averages.
General Economic Impact Studies
Scope of Work
What are the main types of goods or services to be offered in the projects? For example, in the case of a commercial real estate venture, there may be construction and then several different types of businesses that would occupy the commercial space, such as retail, resorts, hotels, health spas, etc. This information is crucial to determine the specific North American Industry Classification System (NAICS) code(s) that are used in regional economic models.
If construction involved, how long this will take? Will the project(s) be done in phases, e.g., a first building to be opened two years from now, a second to open four years from now, etc. Where will the principal production/operation facilities and management offices be located (city, county, state)? Finally, the actual or planned income, expenditures, and employment of individuals in all phases of the project(s) are needed. Pro-forma income statements are very useful in this regard.
Business Plan Development
Business plan services are available for EB-5, E-1, E-2 L-1 and H1-B visas.
Barnhart Economic Services, LLC has extensive experience creating business plans for new regional centers and individual projects ranging from $1mm to over $150mm in total project cost.
We work closely with our clients to ensure that all requisite information is included per USCIS guidelines and Matter of Ho compliant. Our business plans typically include but are not limited to: