Job Creation studies are important to the investor because this study bears directly on whether sufficient jobs will be generated for approval of the investor’s I-829 petition (removal of conditions, or obtaining of the “green card.”). The studies are performed pursuant to the rules of the EB-5 Program of the Immigration and Nationality Act (8 U.S.C. 1153 (b)(5)(A)-(D); INA 203 (b)(5)(A)-(D)). The job studies are also an explicit part of the “comprehensive business plan” requirements of the USCIS precedent case, Matter of Ho (31 July 1998).
PenberaParis either directly writes through our staff associates, or contracts with specialized firms, for the preparation of the IMPLAN job creation study which demonstrates the creation of the ten (10) full-time jobs (direct, indirect/induced) per investor for qualifying U.S. workers within two years (or, under certain circumstances, within a reasonable time after the two-year period) of the immigrant investor’s conditional admission into the U.S. We require the use of the latest software and data sets from MIG, Inc and BEA. Job studies describe the methodology and protocols and data applied, and provide many charts and tables relating to both employment (multipliers, number of jobs, personal and household income, etc.) and also regional benefits .
Note: The two main methodologies for job creation studies are IMPLAN and RIMS II. USCIS has pronounced a preference for IMPLAN. Even though formal research done by Dr. Penbera (*) has found that either method can be used to determine the final demand output or the number of jobs created by the business to estimate the effects to the economy, we prefer IMPLAN despite its higher cost because it generates a multiplicity of useful computer generated regional output and benefits tables.
(*) “A Comparative Analysis of Implan and RIMS II Econometric Modeling of Job Creation and Capital Investment As Applied to EB5 Investment Projects”, May 2012, Chicago Proceedings of The Global Finance Conference , publisher of the Global Finance Journal.