This article, authored by EB5 Coast to Coast, delves into how rural investments are revolutionizing the EB-5 program by spurring job creation and economic growth in underdeveloped U.S. regions. The piece highlights the transformative impact of the Reform and Integrity Act (RIA), which has enhanced accessibility through expedited processing and prioritized visa allocations, opening up new avenues for immigrant investors.
Introduction
The EB-5 Immigrant Investor Program has long served as a vital route for foreign investors aiming to secure U.S. residency by contributing to job-creating projects. Historically, the landscape of EB-5 investments was heavily skewed toward major urban centers such as New York, Los Angeles, and Miami. Urban real estate developments offered perceived security and prestige, capturing the lion’s share of investor attention. However, the passage of the Reform and Integrity Act (RIA) in 2022 ushered in significant changes, notably shifting investor focus toward rural areas by introducing new categories and incentives.
RIA Changes (2022)
The RIA established a distinct rural category within the EB-5 program, fundamentally changing the investment landscape. One of the most significant shifts was the creation of dedicated incentives for rural projects. The Act provides priority processing of applications and visa set-asides specifically for rural investments. These provisions were designed to level the playing field, ensuring that rural projects could compete more effectively with their urban counterparts. By encouraging investment in underdeveloped areas, the RIA has redefined what it means to participate in EB-5.
Investor Demand
The practical implications of these incentives are particularly evident among investors from the traditionally dominant EB-5 markets of China and India. For many of these investors, the backlog and lengthy waiting times associated with urban projects have made rural investments especially appealing. The promise of faster processing times and visa set-asides directly addresses critical pain points in these markets, making rural EB-5 projects an increasingly preferable option.
For example, in Q1 FY2025, nearly 4,600 EB-5 visas were issued globally, but only 66 were in reserved categories, with 27 for rural projects and 39 for high-unemployment areas (HUA) (IIUSA). This illustrates both the growing demand for rural projects and the underutilization of the visas allocated to them.
Further evidence comes from Customers Bank, one of the largest financial institutions serving the EB-5 industry. In the 12 months through March 2025, 59% of its EB-5 clients filed in rural projects, compared to 41% in HUA projects. In the prior 12 months, the split was 64% rural vs 36% HUA. This dataset, representing more than 2,000 EB-5 clients, is widely regarded as a reliable snapshot of investor behavior across the market.
Market Transformation
Thanks to these rural incentives, EB-5 investment is no longer confined to skyscrapers and luxury developments. A transformation is unfolding across numerous states, with investment now flowing into diverse areas such as data centers, strategic minerals, rehabilitation centers, and energy projects. This diversification has broadened the EB-5 program’s appeal beyond conventional real estate, making it more versatile and integrated into the economic fabric of rural America.
In May 2025, of the 452 EB-5 visas issued globally, 71 were from reserved categories, with 56 allocated to rural projects and only 15 to HUA (IIUSA). This demonstrates that when reserved visas are used, rural projects are leading the way.
Economic & Legislative Impact
The pivot toward rural investments does more than diversify project types—it drives tangible economic impacts. Rural EB-5 projects are credited with generating significant job growth in communities often overlooked by urban development. This economic uplift bolsters the rationale for EB-5 and enhances its political sustainability.
Yet, the numbers show how much opportunity remains. For FY2025, 4,416 visas were reserved for rural projects, compared to 2,208 for HUA and 442 for Infrastructure (IIUSA). By May, however, only about 9% of the rural reserved visas had been issued (IIUSA). The underutilization underscores both the scale of growth potential and the need for broader market education.
Such geographic diversification also strengthens EB-5’s political footing. The expansion into rural areas has built support from a wider range of legislators, positioning the program for more secure reauthorization in 2027.
EB5 Coast to Coast Perspective
With national Regional Center coverage, EB5 Coast to Coast is well-positioned to observe these shifts firsthand. As a sponsor of multiple projects across both rural and urban markets, the organization sees the traction rural investments are gaining. This expanding portfolio highlights the nuanced market changes influenced by the RIA and underscores EB5 Coast to Coast’s insight into the evolving EB-5 environment.
Conclusion
The RIA has reshaped the EB-5 program into a truly national initiative, breaking away from its traditional urban concentration to embrace a wider geographic scope with stronger legislative support. As rural projects take center stage, they are proving vital for both investors and U.S. communities. With over 4,400 rural visas available annually and only a fraction yet used, the opportunity for investors and America’s rural economy is substantial. The momentum behind rural EB-5 investments not only fuels economic development but also strengthens the program’s long-term sustainability.
