Targeted Employment Areas (TEA)

2018 TEA Map

In accordance with 8 CFR 204.6(i), the Virginia Employment Commission (VEC) is the designated authority within the state of Virginia to certify geographic areas or political subdivisions located within MSAs as high unemployment areas. The VEC also may certify a high unemployment area, as requested, for a combination of the aforementioned geographic and political subdivisions within an MSA, so long as the area is contiguous and has an unemployment rate of at least 150 percent of the national unemployment rate. These certifications will be evaluated on a case-by-case basis.

The 150 percent of the national average unemployment rate used for the FY 2018 determination is 6.1 percent. The BLS labor force data used to determine average annual unemployment rates consisted of benchmarked data from March 2018.
 

There is a charge for TEA certification letters, ranging from $175 to $400 depending on the amount of analyses required.

Virginia Census Tract Labor Force Data Qualifying Tracts

This document is an excel file with the Virginia census tract labor force data qualifying tract for fiscal year 2018.

Targeted employment area means as area which, at the time of investment, is a rural area or an area which has experienced unemployment of at least 150 percent of the national average rate. [8 CFR 204.6 (e)]

Rural area means any area not within a metropolitan statistical area (as designated by the Office of Management and Budget).

Required amounts of capital means (1) General. Unless otherwise specified, the amount of capital necessary to make a qualifying investment in the United States is one million United States dollars ($1,000,000). (2) Targeted employment area. The amount of capital necessary to make a qualifying investment in a targeted employment area within the United States is five hundred thousand United States dollars ($500,000).

Virginia Census Tract Labor Force Data

This document is an excel file with the Virginia census tract labor force data for fiscal year 2018.

A Targeted Employment Area (TEA) is defined by Title 8, Code of Federal Regulations (CFR), Section 204.6(e) as an area which, at the time of investment, is a rural area or an area which has experienced unemployment of at least 150 percent of the national average rate. A rural area is further defined as any area not within a metropolitan statistical area (MSA). Areas which have experienced unemployment of at least 150 percent of the national average rate are called high unemployment areas and are designated by states.

Therefore, all counties and cities (census county equivalents) in Virginia not included in an MSA qualify as TEAs.

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