A UND senior sketched out a prototype at the Center for Innovation this week, talking capital and timelines with a local mentor over black coffee. The conversation turned on a single question: how to fund the leap from lab to market. That answer may broaden soon, after the White House said it will expand the federal Immigrant Investor Program, a move that could steer more private capital toward projects in Grand Forks and on campus.
UND Community Sees New Opportunities
University-linked projects—from aviation research commercialization to tech startups spinning out of UND labs—could benefit if more investors are able to back ventures that qualify under federal rules, according to program guidance from U.S. Citizenship and Immigration Services (USCIS) that ties green card eligibility to job-creating investments. The program channels funding into ventures that create at least 10 full-time U.S. jobs, positioning workforce growth as the core metric, per USCIS.
Locally, that could mean added momentum for sectors Grand Forks has prioritized—unmanned and autonomous systems, ag-tech, and health sciences—where early-stage capital remains tight, based on priorities outlined by the Grand Forks Region Economic Development Corporation. Downtown revitalization and student-focused housing near the Alerus Center and the Greenway trail system could also see interest if projects meet federal criteria for targeted employment areas (TEAs), which carry lower investment thresholds under federal law, according to USCIS.
Local business groups say they are evaluating how an expansion could fit into deal pipelines and partnerships with university-led initiatives, a process the Grand Forks Chamber of Commerce typically coordinates with city economic development staff and lenders. UND’s emphasis on entrepreneurship and research translation—highlighted in regular updates from the UND News Office—provides a ready slate of projects that could be packaged for investors through federally designated regional centers.
A Closer Look at the Program
The EB-5 Immigrant Investor Program allows foreign nationals to seek permanent residency by investing a qualifying amount in a U.S. enterprise that directly creates at least 10 full-time jobs, per USCIS. Minimum investment levels are $1,050,000 for standard projects and $800,000 for TEA or infrastructure projects, according to USCIS. Many projects are pooled and managed through “regional centers,” which are entities authorized by USCIS to aggregate capital and document job creation, per the agency’s program materials.
The White House framed the latest move as an expansion intended to unlock more investment and speed approvals for qualified projects, according to its announcement. Specific regulatory language and operational details were not immediately posted by federal agencies at the time of publication, and USCIS is expected to issue formal guidance before any changes take effect.
Human Impact on Campus and Beyond
For UND students and faculty building companies out of labs and capstone projects, the most immediate effect could be another lane to finance prototypes, facilities, and early hiring—particularly for ventures tied to aviation, space, and energy, where Grand Forks already has supply-chain depth through the University and Grand Forks Air Force Base. These are precisely the kinds of job-creating activities the program was designed to measure, according to USCIS.
Local lenders and project sponsors have also signaled interest in how EB-5 capital could stack with state incentives and city tools—such as tax-increment financing or Growth Fund support—to move stalled projects forward, a pairing that Grand Forks’ economic development teams frequently explore with private developers and employers. For families and workers, the test will be tangible: new positions posted, shovels in the ground, and more opportunities on and around campus.
Diverse Perspectives: National Implications
Business advocates have long argued that EB-5 draws private, at-risk capital into U.S. communities while creating jobs at no direct taxpayer cost, a position reflected in national chambers’ testimony to Congress over the past decade. Researchers and auditors, meanwhile, have urged stronger oversight to limit fraud risk and to ensure investments benefit the communities most in need, concerns documented in federal reviews of the program.
Policy analysts also note the program’s mixed track record nationally, with funds historically concentrating in large real estate projects in a handful of metro areas, a distribution USCIS has attempted to rebalance through tighter TEA definitions and integrity rules under the 2022 reform law, according to USCIS. Any new expansion will likely revive debates over visa availability, processing backlogs in high-demand countries, and the appropriate safeguards for investors and communities, issues federal agencies say they continue to monitor in implementation guidance.
What’s Next for Grand Forks
City and campus partners will watch for USCIS implementation memos and any Federal Register notices that clarify timelines, eligible project types, and compliance requirements. In practical terms, local sponsors typically engage a USCIS-designated regional center early, align project documentation to job-creation models acceptable to the agency, and coordinate with city and state offices on complementary incentives; that sequence is standard under current program rules, per USCIS.
Residents, entrepreneurs, and employers can track updates and connect with local partners here:
City of Grand Forks economic development updates: grandforksgov.com
Grand Forks Region EDC (project support and investor outreach): growgrandforks.com
Grand Forks Chamber of Commerce (business network and events): gochamber.org
UND Center for Innovation and research news: und.edu/news
USCIS EB-5 program overview and policy: uscis.gov/EB-5
What to Watch
USCIS is expected to publish operational guidance detailing how the expansion will be applied, including any changes to processing, project eligibility, or visa availability. Local leaders will brief stakeholders once federal guidance is clear and could begin packaging qualifying projects shortly after. Watch city and chamber calendars for forums that outline timelines and opportunities for Grand Forks businesses and the UND community.
Resources
USCIS EB-5 overview (eligibility, investment amounts, job-creation rules)
EB-5 Reform and Integrity Act summary (program integrity and TEA definitions)
City of Grand Forks economic development portal (local incentives, contacts):
Grand Forks Region EDC (project support and introductions to partners):
UND News (research and entrepreneurship updates)
