The Federal EB-5 investor program grants eligible foreign investors the opportunity to obtain an EB-5 visa if they commit to invest funds in job-producing development projects in the United States. Each state has a federally-designated EB-5 regional center where they disperse New American Development Fund (NADF) dollars to that are further disseminated to developers, business and other enterprises committed to job creation.
One of Pennsylvania’s highest priorities is the creation of new jobs and economic development. The Department of Community and Economic Development (DCED) is committed to supporting initiatives to create jobs and bolster the economy.
DCED is one of the enterprises that receives NADF dollars. Our unique partnership allows private loan fees secured through DCED’s EB-5 program to be kept at a secure account at Team Pennsylvania to support DCED initiatives. Per our current agreement, any funds from the NADF account must be approved by both DCED and Team PA. Team PA calls a joint meeting of our Resource Allocation Committee and Executive Committee to approve requests.
Team PA is committed to transparency in how we spend public dollars. See below for recent Resource Allocation requests and how the money was spent.