Cities of All Sizes Will Lose Jobs Under S. 1501
S. 1501’s “One Census Tract” standard would mean that cities and suburbs where most Americans live would lose the economic benefits provided by EB-5 TEA designations. For example:
- ALABAMA: Approximately 72% of census tracts disqualified as TEAs in the Mobile, Tuscaloosa, and Birmingham-Hoover MSAs. (Only 130 of the 469 tracts would qualify under S. 1501).
- ARIZONA: Approximately 79% of census tracts disqualified as TEAs in the Phoenix-Mesa-Scottsdale and Tucson MSAs. (Only 294 of the 1,412 tracts would qualify under S. 1501).
- CONNECTICUT: Approximately 81% of county-level census tracts disqualified as TEAs in the Bridgeport-Stamford-Norwalk, Hartford-West Hartford-East Hartford, and New Haven-Milford MSAs. (Only 134 of the 691 county-level tracts would qualify under S. 1501).
- DELAWARE: Approximately 85% of census tracts disqualified as TEAs in the Dover and Wilmington MSAs. (Only 25 of the 164 tracts would qualify under S. 1501).
- ILLINOIS: Approximately 73% of census tracts disqualified as TEAs in the Chicago-Naperville-Arlington Heights, Peoria, Springfield, and Champaign-Urbana MSAs. (Only 561 of the 2,064 tracts would qualify under S. 1501).
- IOWA: Approximately 97% of census tracts disqualified as TEAs in the Des Moines-West Des Moines and Cedar Rapids MSAs. (Only 6 of the 188 tracts would qualify under S. 1501).
- KENTUCKY: Approximately 83% of Kentucky census tracts disqualified as TEAs in the Louisville-Jefferson County, Lexington-Fayette, Bowling Green, and Cincinnati MSAs. (Only 89 of the 516 Kentucky tracts would qualify under S. 1501).
- LOUISIANA: Approximately 80% of census tracts disqualified as TEAs in the New Orleans-Metairie, Baton Rouge, Lafayette, and Lake Charles MSAs. (Only 137 of the 679 tracts would qualify under S. 1501).
- MINNESOTA: Approximately 94% of census tracts disqualified as TEAs in the Minneapolis-St. Paul MSA. (Only 48 of the 775 tracts would qualify under S. 1501).
- OHIO: Approximately 80% of census tracts disqualified as TEAs in the Columbus MSA. (Only 82 of the 420 tracts would qualify under S. 1501).
- PENNSYLVANIA: Approximately 89% of census tracts disqualified as TEAs in the Pittsburgh MSA. (Only 75 of the 711 tracts would qualify under S. 1501).
- TEXAS: Approximately 90% of census tracts disqualified as TEAs in the Dallas-Ft. Worth-Arlington MSA. (Only 258 of the 2,628 tracts would qualify under S. 1501).
- UTAH: Approximately 94% of census tracts disqualified as TEAs in the Salt Lake City, Provo-Orem, and St. George MSAs. (Only 23 of the 387 tracts would qualify under S. 1501).
- VIRGINIA: Approximately 86% of Virginia census tracts disqualified as TEAs in the Virginia Beach-Norfolk-Newport, Richmond, and Roanoke MSAs. (Only 91 of the 653 Virginia tracts would qualify under S. 1501). Notably, approximately 99% of the Northern Virginia census tracts disqualified as TEAs in the Washington-Arlington-Alexandria MSA. (Only 5 of the 511 Northern Virginia census tracts would qualify under S. 1501).
The analysis in this fact sheet was conducted using U.S. Government Census data from: http://factfinder.census.gov/faces/nav/jsf/pages/index.xhtml. It assumes a national unemployment rate of 9.7%, based on the most recent 5-year estimates from the American Community Survey.