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Law360, New York (October 20, 2016, 7:18 PM EDT) — Nearly all of the more than 6,000 foreigners who applied for the EB-5 immigrant investor program in the fourth quarter of fiscal year 2015 chose to invest in a “targeted employment area” where the minimum commitment of $500,000 is half as much as elsewhere, the U.S. Government Accountability Office estimated in a report released Wednesday.
A TEA is defined as a rural area or one that has an unemployment rate of at least 150 percent of the national average. Projects in other areas require a minimum investment…