EB-5 COMMUNITY ECONOMISTS
Michael Evans
Evans, Caroll & Associates Inc.
Dr. Michael Evans is the chairman
of Boca Raton, Florida-based Evans,
Carroll & Associates Inc., an economic
consulting firm specializing in EB-5
immigration analysis, economic impact
studies of development projects and
new construction, models of state and
local tax receipts, impact of current and
proposed government legislation and
construction of econometric models for
individual industries and companies.
Evans and his team exclusively
handle EB-5 project reports for regional
centers. They have provided economic
impact reports for more than 550 clients
in industries across the country, including
hotels, residential housing complexes,
mixed-use commercial projects, senior
living facilities, apartment buildings,
charter schools and mines.
Evans was the co-developer of the
original Wharton Model with as an assistant and associate professor of economics at
the University of Pennsylvania’s Wharton
School. He has taught as a clinical
professor of Economics at Northwestern
University, was a visiting professor at
Radford University and visiting lecturer at
Hebrew University in Jerusalem.
As a consultant for the United
States Senate Finance Committee, Evans
designed the first large-scale supply-side
model of the U.S. economy. Evans
has served as a consultant to the U.S.
Treasury, the National Aeronautics and
Space Administration, the Environmental
Protection Agency and the U.S.
Department of Agriculture.
In the area of Casino Gaming he has
built an econometric model to measure
the growth of the gaming industry over
the next decade, and the economic impact
of that industry in employment and tax
revenues at the Federal and state levels.
Evans also worked in the area of
determining the economic impact of
smoking bans and higher taxes in both the
U.S. and Canada. He examined the impact
of smoking bans on restaurant sales in
several different locations to determine how
such sales changed when these taxes or bans
were imposed.
Finally, Evans built an econometric
model to examine how U.S. tax and
regulatory policies help determine whether
the gold mining industry would invest in
the U.S. or in other countries.
2011, and through Regional Centers
in 2012. Fernandez learned quickly
how to build economic models using
IMPLAN, and transitioned to RIMS-II
due to its transparency, flexibility, and
government origins. He now offers
REMI as a third option to those clients
that may prefer to consider competitor
effects. Fernández is the founder and
president of Greengate Consulting, a
firm dedicated to EB-5 and non EB-5
project development.
Prior to being an independent
business consultant, Fernández was a
manager at General Electric, where he
controlled a team of forecasting analysts
predicting worldwide demand of gas
turbine parts. He was responsible for
determining the production schedule of
$1 billion worth of parts per year. Prior
to that, he was the portfolio risk leader
of GE Contractual Services, where he
developed critical systems to monitor
the financial risk exposure to GE of
power plant technical failures.
Fernández, originally from Madrid,
graduated with a Bachelor of Science
in Aerospace Engineering from EmbryRiddle Aeronautical University, he
then obtained an MBA along with a
Ph.D. in Aerospace Engineering in the
subject of financial engineering from
Georgia Institute of Technology. He
worked for the Georgia Tech Aerospace
Systems Design Laboratory in Atlanta
in conjunction with Boeing, Airbus, and
General Electric. Fernández has conducted extensive research and developed
methods to assess the value of intangible
assets, such research and development
projects, using Real Options, a financial
valuation method derived from stock
option pricing.
Fernández currently resides in Atlanta
with his three kids, and dedicates most
of his free time to his family. He is
passionate about soccer and aviation, and
takes advantage of his flying skills to visit
EB-5 projects in the region whenever he
has a chance.
Profile
Profile
Ismael Fernández
Gree ngate Consulting
Dr. Ismael Fernández started his career
in the EB-5 space as an extension to
his practice in immigration business
consulting, which began in 2010.
As a professional that thrives when
learning continuously, he saw the
opportunity to naturally expand his
trade to those clients seeking EB-5 visas
through direct investment methods in
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