$500 million investment in NEK

[handmade34]

http://www.vpr.net/episode/54493/northeast-kingdom-economic-development/

"A $500 million development proposal that backers say could create 10,000 temporary and permanent jobs across the Northeast Kingdom would be historic. But it could also bring big changes to Jay, Newport, Coventry and Burke, the communities where all the development is targeted. Even some political leaders from the region have described the potential for change as scary..."

http://vtdigger.org/2012/09/28/jay-peak-partners-expand-their-500-million/

"...Bill Stenger, the CEO of Jay Peak Resort, and his partners announced the largest economic revitalization investment of its type in the history of the Northeast Kingdom on Thursday it seemed natural that a TV news reporter would push a microphone in the face of one of the developers and ask: “What’s different this time?”...That’s a question to which Stenger gave a quantitative answer: $500 million, 10,000 jobs, 60 months.

...The EB-5 program had been set to expire this year until Congress extended it earlier this month. Sen. Patrick Leahy, D-Vt., a strong backer of the program, was instrumental in extension’s passage and President Barack Obama is expected to sign the bill.... Stenger praised Leahy’s efforts in Congress. “It’s his work that has opened this window,” the ski area mogul said. “If it were not for him, this window would not exist.”

“It’s nice to see a government program that brings jobs here,” Leahy said. “The most important part is it didn’t cost the taxpayers a penny.”