Quantcast

Stenger: $100 mil raised for Newport development - WCAX.COM Local Vermont News, Weather and Sports-

Stenger: $100 mil raised for Newport development

Posted: Updated:
NEWPORT, Vt. -

The massive development project planned for the Northeast Kingdom is moving forward -- and drawing financial support.

The $500-million project calls for new development at Jay Peak and Burke Mountain -- bio-tech and window manufacturing plants -- and a rehab of downtown Newport.

The project is being funded primarily thru the EB-5 program which trades U.S. visas for foreign investments. Developer Bill Stenger said he just returned from a 10 day fundraising trip to China.

"Right now, we've raised almost $100 million over the last six months. We have a ways to go, but in the next 8 to 12 months, we'll probably raise another $300 million more," Stenger said.

Stenger said a team of Korean scientists is in Vermont for two weeks to finalize plans for the AnC Bio operation at the site of the old Bogner plant in Newport. The Menck window factory would be build on the same property. Altogether the Kingdom projects are expected to create up to 10-thousand new jobs.

  • Local NewsMore>>

  • New fundraising numbers in the race for Vt. Governor

    New fundraising numbers in the race for Vt. Governor

    Tuesday, September 2 2014 11:03 PM EDT2014-09-03 03:03:04 GMT
    Fundraising numbers are in from the candidates running for Vermont's top public office. Governor Peter Shumlin continues to out-raise his Republican opponent Scott Milne. Since August 15th, Governor Shumlin running for his third term in office has added 34 thousand dollars to his war chest. He's now raised over 600 thousand dollars this campaign. Scott Milne raised just 10 thousand dollars bringing his total to 53,000. The Milne campaign has now spent 8 thousand more dollars than it has broug...
    Fundraising numbers are in from the candidates running for Vermont's top public office. Governor Peter Shumlin continues to out-raise his Republican opponent Scott Milne. Since August 15th, Governor Shumlin running for his third term in office has added 34 thousand dollars to his war chest. He's now raised over 600 thousand dollars this campaign. Scott Milne raised just 10 thousand dollars bringing his total to 53,000. The Milne campaign has now spent 8 thousand more dollars than it has broug...
  • Mechanic accused of illegal car inspection ring

    Mechanic accused of illegal car inspection ring

    Tuesday, September 2 2014 11:03 PM EDT2014-09-03 03:03:01 GMT
    A Springfield mechanic is accused of operating an illegal car inspection sticker ring. 29 year old Benjamin Millay allegedly stole around 30 inspection stickers from his former employer the Springfield Auto Mart and sold them on the side to cars that otherwise would not have passed inspection. Tuesday he pleaded not guilty to a single count of embezzlement. After providing police with a written confession Millay was released to await trail. Vermont inspectors are now working to track down tho...
    A Springfield mechanic is accused of operating an illegal car inspection sticker ring. 29 year old Benjamin Millay allegedly stole around 30 inspection stickers from his former employer the Springfield Auto Mart and sold them on the side to cars that otherwise would not have passed inspection. Tuesday he pleaded not guilty to a single count of embezzlement. After providing police with a written confession Millay was released to await trail. Vermont inspectors are now working to track down tho...
  • Arson investigation underway for Dummerston church

    Arson investigation underway for Dummerston church

    Tuesday, September 2 2014 11:02 PM EDT2014-09-03 03:02:53 GMT
    An arson investigation is underway at a church in Dummerston.
    An arson investigation is underway at a church in Dummerston.
  • Autopsy confirms gender of body found in Massena

    Autopsy confirms gender of body found in Massena

    Tuesday, September 2 2014 11:02 PM EDT2014-09-03 03:02:57 GMT
    New information about a dead body discovered in Massena last week.
    New information about a dead body discovered in Massena last week.
  • Former CVU english teacher dies in Hawaii

    Former CVU english teacher dies in Hawaii

    Tuesday, September 2 2014 10:02 PM EDT2014-09-03 02:02:12 GMT
    A former Champlain Valley Union High School english teacher has died in Hawaii.
    A former Champlain Valley Union High School english teacher has died in Hawaii.
  • ISIS claims it beheaded another US journalist

    ISIS claims it beheaded another US journalist

    Tuesday, September 2 2014 7:24 PM EDT2014-09-02 23:24:15 GMT
    ISIS claims it has beheaded another United States journalist with ties to our region.
    ISIS claims it has beheaded another United States journalist with ties to our region.
  • 2nd trial begins for Vt. prison guard

    2nd trial begins for Vt. prison guard

    Tuesday, September 2 2014 12:25 PM EDT2014-09-02 16:25:40 GMT
    A prison guard accused of sexually assaulting a female inmate was back in court Tuesday.
    A prison guard accused of sexually assaulting a female inmate was back in court Tuesday.
  • Bicyclist dies after injury in Waterbury

    Bicyclist dies after injury in Waterbury

    Tuesday, September 2 2014 6:24 PM EDT2014-09-02 22:24:11 GMT
    A bicyclist has died after being injured in Waterbury.
    A bicyclist has died after being injured in Waterbury.
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WCAX. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.