Most economists, government officials and business developers readily agree that commercial real estate and infrastructure development projects heavily contribute to a region's economic growth. Take as an example the aggressive rise of such projects in the gulf cities of Dubai and Abu Dhabi, United Arab Emirates; Doha, Qatar; and Riyadh, Saudi Arabia. Drive around any of these cities and you cannot help but admire the sight of towering cranes rising above large-scale construction projects. However, whereas these cities are awash with capital but lack adequate access to an appropriate labor force, mature U.S. markets maintain an abundant supply of an unemployed labor force while lacking access to affordable capital. Even though construction spending in the United States recently hit its highest level in four years, access to developer financing continues to temper the pace of the industry's post-recession recovery.

EB-5 to the Rescue

The EB-5 immigrant investor program has become one of the most popular forms of alternative financing. Under the program, each investor invests $500,000 (in rural areas or areas with higher than average unemployment) or $1 million (everywhere else) into a project. The principal criteria are that the investor's capital infusion must create at least 10 jobs for U.S. workers, and maintain those jobs for two years or more. If these criteria are met, the investor and his or her immediate family receive permanent residence (a green card), allowing them to live in the United States (and incorporating their worldwide income into the U.S. tax system).

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