Jay Peak Resort EB5 Visa (Green Card) Program – NECN News Report

April 2, 2011 · 0 comments

in green transportation

(NECN: Anya Huneke, Jay, VT) – Bill Stenger has his hands full at the moment. As owner of jay peak resort in Jay, Vermont. He is overseeing a multi-phase, hundred-million dollar expansion project. That he hopes will help Jay Peak thrive as a year-round destination. He is building at a time when many businesses are shrinking. But Stenger has an advantage. He has not only a vision… But also, thanks to a collection of investors, the money to make it happen. Bill “They provide us with the equity to build something that otherwise we would never have been able to do.” ‘They’ are all non-US citizens – living in England, Canada, India, and Mexico, among other countries – who are looking to become permanent residents of this country. They’re participating in something called the ‘EB-5 visa program’– that enables foreigners to invest in projects that will create jobs in the US– either a million dollars… Or 500-thousand, if the project is in a rural or high-unemployment area. It is truly a win situation for everybody. They get their green card, we get the capital to invest in job creation, and the state gets jobs where it wants to see them.” All told, Jay Peak’s expansion project is expected to create 2000 jobs– some at the resort and some in surrounding communities… which is crucial in this section of Vermont, where unemployment is the highest in the state. Bill: “That’s the biggest and most important byproduct of everything we’re doing is job creation and the economic

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