Alabama Center for Foreign Investment
This program was created to encourage economic development and the creation and preservation of jobs through the investment of foreign capital in areas of high unemployment, rural areas, troubled businesses, and the expansion of existing business. The ACFI-RC is responsible for identiying and qualifying accredited foreign investors as a sourse of capital for ACFI-RC qualified projects. The Program is an employment-creation visa program that was made possible by Section 610 of Public Law 102-395 (October 6, 1992).
An accredited foreign investor is required to invest a minimum of $500,000 creating at least 10 total, direct and indirect jobs. The criteria is determined by USCIS and DHS includes the following targeted areas:
High Unemployment Area
An area with an unemployment rate equal to or greater than 150% of the national average. Even though Alabama’s unemployment rate is the lowest in the State’s history, there are some entire counties that qualify, as well as, pockets of high unemployment that exist in almost every county and city in our State.
A business which has been in existence for at least two years and has lost a minimum of 20% of its net worth or number of employees during the past 12 to 24months.
Expansion of an Existing Business
Virtually any business that can show a net worth and/or increase in number of employees equal to 140% of the existing level prior to the expansion that is enabled by the foreign capital injection.
Individual who has a net worth individually or jointly with a spouse in excess of USD 1,000,000. An investor also qualifies if an income exists in excess of USD 200,000 for the two most recent years, or jointly with a spouse, for the same period, in excess of USD 300,000. There must be reasonable expectations of the same income level in the current year.
At Risk Investment
Capital not used in exchange for a note, bond, convertible debt, obligation or any other debt arrangement, but used directly into a new commercial enterprise “at risk.”
For more information contact:
Alabama Center For Foreign Investment
100 N. Union St.. Suite 682
Montgomery, AL 36104
P.O. Box 5079 36103
Fax: 334. 954-3112
For further information contact the Chamber's Corporate Development staff at email@example.com