This 22-story multifamily EB-5 project in downtown Austin has been successfully completed. It created more jobs than were originally estimated in the project’s Economic Impact Report.
The original Report estimated a total of 461.8 EB-5 eligible jobs, based on forecasted construction expenditures and operational revenues, utilizing the RIMS II methodology accepted by USCIS.
The economist’s actual jobs creation estimates, based on the actual expenditures of the completed project, come to 483.2 EB-5 eligible jobs (indirect and induced jobs only), yielding a jobs cushion for the EB-5 investors of 142%.
The project was called out by the Chairman of the Homeland Security Committee in his keynote address to the EB-5 industry’s annual conference to illustrate how successful the EB-5 program can be, as described here.