WCAX.COM Local Vermont News, Weather and Sports-Ski Mountain President on Capital Hill
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Washington, DC - July 22, 2009
The President of Jay Peak Resort left the ski mountain to testify before the U-S Senate Judiciary committee today.
Jay Peak is in the middle of a $100-million expansion. The resort's president, Bill Stenger, was in Washington to support a federal program that allows foreign investors to contribute $500,000 into a project. In return, the investors get two-year visas allowing them to live anywhere in the U.S.
Senator Leahy wants to make the pilot-program, which started in 1993, permanent. He and Stenger say it helps the economy and creates jobs.
"We're seeing this employment creation at Jay Peak and in the surrounding communities, in this terribly troubled economy, solely because of the EB-5 foreign investors program," said Stenger.
He added that the Jay Peak expansion will eventually lead to 700 new jobs in the Orleans County area.
WCAX News
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