EB-5

The Immigrant Investor Program, also known as “EB-5”, is a job creation visa program. The program was created in 1990 by Congress and is administered by U.S. Citizenship and Immigration Services (USCIS). The purpose of an EB-5 regional center is to stimulate econometric development, create jobs, and improve regional productivity through foreign direct investment in local businesses, while providing eligible foreign investors an opportunity to become permanent U.S. residents. An EB-5 regional center is an entity that has been approved by USCIS under the Department of Homeland Security. A regional center is defined as any economic unit, public or private, which is involved with the promotion of economic growth, improved regional productivity, job creation, and increased domestic capital investment. The UND Center for Innovation Foundation applied to USCIS for a regional center designation and was granted approval to operate The North Dakota/Minnesota EB-5 Regional Center in April 2011.