consultant-icon

contact an iedc consultant

Kim-Vinson 
Kim Vinson
Business Development
 








Please select your industry:

consultant-icon

contact an iedc consultant

David Watkins 
David Watkins
Director of
Network Operations
 








Please select your industry:

consultant-icon

contact an iedc consultant

Kim-Vinson 
Kim Vinson
Business Development
 








Please select your industry:
Does your business experience barriers to growth?
Are you considering plans for expansion in the next two years?
Have you experienced challenges in attracting or retaining your current workforce?

 

Subscribe to the IEDC Newsletter

Email Format
* Indicates Required Field
 

Sign up for news releases

* indicates required
Email Format
header-splash
EB-5
EB-5 Targeted Employment Areas

The IEDC is the state agency authorized to designate targeted employment areas (“TEAs”) in Indiana under the federal EB-5 visa program.  If you would like to pursue a TEA designation, please submit a letter of justification to the IEDC for review. Letters of justification must include the following information at a minimum:

  1. Contact Information (include both the name/address of person submitting the request and the name/address the requestor would like printed on the Designation Letter)
  2. Project Description (if applicable): Brief narrative of the project, including the address, name, and description of the business
  3. Proposed Area: 
    • Requestor must supply a list (in a spreadsheet such as Microsoft Excel) of the Census Block Groups that make up the TEA—the information should be in the following format (Block Group 1, Census Tract 505, Whitley County, Indiana).
    • Requestor must supply a map of the proposed area. There are publicly-available mapping tools online that can be printed out and shaded in, unless the requestor has more sophisticated mapping software.
  4. Unemployment Rate: requestor must submit a contiguous aggregation of block groups with a weighted average unemployment rate of 5.85% or higher.  To determine the weighted average unemployment rate, sum the unemployment numbers for the selected block groups, sum the civilian labor force numbers for the selected block groups, then divide the unemployment total by the civilian labor force total.  Note that we are using the BLS-recommended approach of rounding the unemployment rate to the hundredths.

The IEDC is using the unemployment data table found in the Downloads section on this page for TEA Designations. Please use the figures in this table in compiling your proposed TEAs. Note that we are no longer using STATS Indiana. The column headings in the table are:

  • FIPS (the unique 12-digit identifier for each block group in the country)
  • Geographic description
  • Number of people in the civilian labor force
  • Number of unemployed people
  • Number of employed people
  • Unemployment rate for each block group

Please direct letters of justification to: 

Mark Wasky 
Vice President, Government & Community Affairs
o 317.417.5258 
MWasky@iedc.in.gov

Katelyn Colclazier 
Redevelopment Project Manager & Small Business Ombudsman
o 317.431.1560 
KColclazier@iedc.in.gov

Additional Materials