US agency decision revives Vermont foreign investor center
MONTPELIER, Vt. (AP) - The state of Vermont has won an appeal with U.S. Citizenship and Immigration Services that allows the continued operation of the state office that manages foreign business investment through a federal program that grants U.S. residency to people who help create jobs.
The ruling, which the state announced Friday, helps protect the interests of hundreds of foreign investors who sought permanent residency when they invested in the Jay Peak ski resort and other projects through the EB-5 foreign investor visa program.
Under the federal EB-5 program, if investors each put up at least $500,000 and the money helps create jobs it can lead to permanent U.S. residency for the investors.
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