Economic Impacts of the U.S. EB-5 Immigration Program (2010-2012)

Presented by:  David Kay, Regional Economist, Alward Institute for Collaboration

February 18, 2015; Charlotte Economics Club, Charlotte, NC

The EB-5 immigration program is a federal immigration path that allows foreign investors to make targeted investments in the U.S. economy in exchange for an opportunity to apply for permanent residency. In recent years participation rates have increased dramatically, and in 2014 the program hit its annual visa allocation limit for the first time. Because of this growth there has been renewed interest in understanding the economic impacts associated with this program. Using the IMPLAN input-output modeling system, we estimate economic impacts associated with the EB-5 immigration program across all 50 states and 435 congressional districts. From 2010-2012 we estimate that spending associated with the program supported over 76,000 U.S. jobs and contributed over $6 billion to the U.S. economy.


Follow this link for David Kay's presentation:  Slide Presentation: Economic Impacts of U.S. EB-5 Immigration Program


Greg Arkansas

Dr. Carole Engle and colleagues at the University of Arkansas, Pine Bluff, invited the Alward Institute to provide a training workshop and overview of Technical Techniques of Economic Research and Analysis. 

The workshop was held on April 2-3, 2015 in Pine Bluff, Arkansas and taught by Dr. Greg Alward and David Kay of the Alward Institute.  This workshop was specifically designed by the Alward Institute to demonstrate how to enhance the economic impact studies and research regarding aquaculture and fisheries studies at the University of Arkansas, Pine Bluff. 


The Alward Institute accepted an invitation by Iowa State University, Extension and Outreach, to develop a training program specifically designed for their needs.  The onsite specialized training which took place at Iowa State University in Ames, Iowa on March 26-27, 2015 showcased methods on how to use IMPLAN data for analytical and economic impacts. 

This training was s1-Greg cropped IowaDavid Iowa croppecifically developed for and presented to Dr. Abigail Gaffey and her colleagues at Iowa State University, Extension and Outreach. 

Dr. Greg Alward and David Kay  of the Alward Institute designed the training to meet the needs for research and development areas that Dr. Gaffey and her colleagues utilize.

University of Verona in Verona, Italy;  January 17-24, 2015

The Alward Institute staffers Greg Alward, Stephen Cooke, and David Kay were invited to the University of Verona in Verona, Italy for collaboration to showcase building technical capacity and conducting regional economic analysis for various Italian provinces.  

Photos ar06-023e of Greg Alward and David Kay demonstrating various methods and techniqueDavid Italys to Dr. Federico Perali‚Äôs students and our Italian colleagues.




IIUSA EB-5 Conference, San Francisco, California; October 2014


The 22nd International Input-Output Conference (IIOA Conference) was held in Lisbon, Portugal from July 14-18, 2014. 

Dr. SteLisbon GrpPrepphen Cooke from the Alward Institute presented two papers at the event; one titled "Input-Output Analysis for Policy Making Topic Selection" and the second was "Using Gross and Base Measures of Output to Explore the Relationship between Export Expansion and Import."

 Lisbon Steve

To view a complete list of the 397 abstracts and 171 full papers of this conference, please click on the following link:   




NARSC, November 2014; David Kay

SRSA, San Antonio, Texas; February 2014; David Kay

MCRSA, June 2014; Madison, Wisconsin

The Mid-Continent Regional Science Association (MCRSA) is an organization consisting of an interdisciplinary membership from academics and other public and private organizations. It uses and develops the tools of regional science to help solve applied problems in rural and urban areas at the local, state, and national levels. It consists of campus-based teachers and researchers, outreach educators, public and private analysts, consultants, etc. The disciplines represented within MCRSA include economics, planning, geography, business, sociology, public administration, and others. Members of the Alward Institute for Collaborative Science actively participate in the Mid-Continent Regional Science Association (MCRSA) conferences, and Greg Alward served as President for the 2013 year. MCRSA is one of five regional science associations located in North America affiliated with the North American Regional Science Council (NARSC).  The 2014 MCRSA/IMPLAN Proceedings and Presentations have been posted to the MCRSA website.

Denver Workshop, Bureau of Land Management, October 2014

DrewExplainingCGE 300Visiting Scholar


Andrew Schreiber, graduate student, University of Wisconsin, Madison; (T. Rutherford, advisor).