EB5 Economist Launches Free EB-5 Project Job Calculator Tool
On September 26th, EB5 Economist, an economic research firm specializing in analyzing the economic impact of EB5 projects, launched a newly developed, proprietary EB-5 Job Calculator. This calculator is a tool to help EB-5 project developers and professionals quickly estimate the number of EB-5 eligible jobs their project creates. The tool utilizes RIMS II data and works with projects across all 50 states.
The tool has had an amazing launch, and within 2 days following the launch, EB5 Economist reported there have been hundreds of active users who analyzed over 1,500 projects to date. “We’re thrilled with the response we’ve seen for the job calculator so far,” said Founder and Managing Partner Erin Osborne. “We developed this tool as an alternative to a developer purchasing a preliminary report, which has historically been expensive and takes days to complete. Our goal was to develop a tool that was useful to EB-5 professionals and their clients that could help both make more informed EB-5 investment decisions and I think we’ve succeeded in that pursuit.”
The free calculator, runs a preliminary EB-5 job creation analysis based on user-defined inputs such as hard construction expenditures, soft costs, and revenue from ongoing operations. The job calculator output shows total jobs created by a project, job creation by expenditure / revenue category, and maximum EB-5 capital raise for Targeted Employment Area (TEA) and non-TEA locations.
While the tool itself is relatively straightforward and easy to use, the EB5 Economist team has also created a demo video with step-by-step instructions as well. The calculator is designed to be a back-of-the-envelope tool which provides directional guidance for developers. A full economic impact study is required for EB-5 projects and this calculator provides initial guidance and immediate feedback to developers and project sponsors on the potential EB-5 viability of a project.
Source: EB5 Economist Consulting, LLC.