The EB-5 Immigrant Investor Program has long been a vehicle for channeling foreign capital into projects that generate American jobs, foster economic growth, and revitalize communities. But until recently, the full scope of its economic impact hadn’t been quantified in a comprehensive, data-driven way.
That changed with IIUSA’s most recent Economic Impact Study, covering the years 2016 to 2019 and presented in a landmark June 2025 webinar. Conducted by Fourth Economy, a national economic development consulting firm, the study reveals the significant contributions that EB-5 investments have made across the U.S. economy.
In this first blog of our five-part series on the webinar, we break down the headline numbers—what they mean, how they were calculated, and why they matter for the future of the EB-5 program.
Part 1 of 5 in the EB-5 Economic Impact Webinar Series
Quantifying Impact: The Methodology Behind the Study
Before sharing the numbers, it’s important to understand the robust methodology behind them.
Dr. Jerry Paytas, Vice President of Research and Analysis at Fourth Economy, led the research effort. His team analyzed USCIS forms I-526 and I-924A, manually entering and verifying over 26,000 pages of data due to OCR limitations and redactions. To supplement the federal data, IIUSA coordinated an extraordinary member-driven effort to collect project-level data from 68 regional centers, covering 68% of reported EB-5 investment during the period.
The result: a rigorous, independently validated dataset that formed the foundation for an economic modeling process using the Lightcast platform—a leading input-output modeling system.
The Big Picture: EB-5’s National Impact (2016–2019)
Here’s what the study found:
- $17.5 billion in EB-5 investment
- $75.2 billion in total economic investment (including matching funds)
- 1.7 million jobs created
- $122 billion in wages paid to U.S. workers
- $184 billion in contribution to U.S. GDP
- 45 jobs created per EB-5 investor, on average
- 3.3x return on every EB-5 dollar invested
These figures represent just a snapshot of four years, but their implications are lasting.
“These are beautiful numbers,” said Lee Li, Director of Policy Research and Data Analytics at IIUSA, who spearheaded the data coordination. “They show EB-5 isn’t just a job creation tool—it’s a strategic economic driver.”
EB-5: A Catalyst for Private Investment
One of the most striking findings: every $500,000 in EB-5 capital attracted an average of $1.6 million in additional private investment. That’s a 3.3x return—without costing U.S. taxpayers a dime.
“EB-5’s impact is all net gain,” noted Dr. Paytas. “The entire program is self-funded by investors through fees. When you compare that to other economic development programs like New Markets Tax Credits or Opportunity Zones, which often require public subsidies or tax expenditures, EB-5 stands out as a remarkably efficient tool.”
Job Creation That Goes Far Beyond the Minimum
While the statutory requirement is just 10 jobs per investor, the study found that EB-5 investors created 45 jobs each on average—a testament to the multiplier effect of these investments.
Those jobs weren’t just in construction or hospitality. As Dr. Paytas explained, “EB-5 touches every sector—manufacturing, healthcare, real estate, education. It’s a broad-based engine for employment.”
And these jobs pay well: an average of $74,000 per year.
Turning Data Into Advocacy
For stakeholders in the EB-5 industry—regional centers, investors, developers, and lawmakers—this study provides more than validation. It offers the kind of evidence-based insight that supports smarter policy and broader public understanding.
As CanAm Enterprises COO Christine Chen said during the webinar:
“When we can share how successful EB-5 has been and how impactful it is, it definitely helps. It’s persuasive when you’re talking to potential projects or educating policymakers.”
Watch, Read, and Share
- Watch the Part 1 video clip from the webinar
- Watch the full webinar recording
- Download the full economic impact study and one-page summary
What’s Next?
This study is just the beginning. In future parts of this series, we’ll explore:
- Part 2: How EB-5 acts as a driver of private capital and job creation, especially during economic downturns
- Part 3: EB-5’s evolving role in rural development and workforce training
- Part 4: The untold story of immigrant investor contributions and EB-5’s return in tax revenue
- Part 5: A bold vision for EB-5’s future—and what it will take to get there
