EB5 good for valley
Jan 16, 2014 | 13766 views | 1 1 comments | 359 359 recommendations | email to a friend | print
The news this week that Mount Snow’s redevelopment and expansion plans have been approved for EB5 foreign investment money should be seen as very welcome indeed. The influx of capital should be felt quickly, as Mount Snow begins to build out its master plan. And the EB5 program has a history of success with Vermont ski areas, as anyone familiar with the growth of Jay Peak will attest.

No doubt there will be those who will scoff at the notion of foreign investors “buying” a green card for themselves and their families. But that’s what the program promises, and it’s how the game is currently played. Why not take advantage of it?

Others will bemoan the influx of outside money coming to the valley. But, historically, the valley has experienced the most growth when that happens. From the Newton Brothers, industrialists who invested in logging and railroad operations in the late 1800s, to New England Power in the 1920s, to Mount Snow founder Walt Schoenknecht in the 1950s, and to Peak Resorts at Mount Snow and Jim Barnes at the Hermitage/Haystack today, there is ample evidence of the power of large-scale capital investment to spur the valley’s economy.

What the future will bring is uncertain at best. But with this announcement, Mount Snow has put itself on a more solid financial footing. We applaud those efforts.
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M Gilberg
January 21, 2014
If the money doesn't flow into the Valley from those yearning to buy green cards and jump the line to our golden shores it most assuradly will go elsewhere. So why not us?

And with it, we'll see a short term increase in construction jobs, a reduction in real estate prices as a glut develops, and a long term increase in low paying service industry employment.

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