Shumlin, Stenger call fundraising trip to Asia a success - WCAX.COM Local Vermont News, Weather and Sports-

Shumlin, Stenger call fundraising trip to Asia a success

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MONTPELIER, Vt. -

Gov. Peter Shumlin and Jay Peak president Bill Stenger say their eight-day fundraising trip to Asia was a big success.

The Vermont delegation met with more than 500 potential EB-5 investors during stops in China and Vietnam.

Stenger says those contacts could generate up to $50 million for his Northeast Kingdom development projects.

The governor says oversight by the state makes the program more appealing to foreign investors.

"Really what I went to do was to talk about Vermont's EB-5 program-- the only program in the country where the state runs the program, where we scrutinize the projects and therefore can give a level of scrutiny to these projects that the other states aren't able to do," said Shumlin, D-Vermont.

Under the EB-5 program, foreigners can invest $500,000 in qualifying projects in exchange for legal residency for the investor and their family.

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Shumlin heads to Asia to woo EB-5 investors

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