California’s Revised EB-5 TEA Policy and Updated Data

On Monday, May 6, California’s Office of Business and Economic Development (“California GO-Biz”) published its new policy regarding certification of high unemployment targeted employment areas (TEAs). In addition to its blanket city, county and metropolitan statistical area (MSA) letter, California GO-Biz will now issue individual certification letters based on its updated data for high unemployment MSAs, counties, and cities, available at California GO-Biz’s EB-5 Investor Visa Program web page.

California GO-Biz now will again issue TEA certification letters based on combinations of up to twelve contiguous census tracts. California used to do so, but stopped in 2012. California is still using census tract boundaries from the year 2000, and is currently verifying 2010 boundaries.