Jay Peak Ski Resort in Vermont continues to pump money into expansion, working to become one of the best resorts in the region. This new expansion takes a chunk out of the overall $125 million development that is going into the area. The money is coming in thanks to foreign investors from around the globe.
The amount of investors pumping money into Jay Peak is impressive, with over 250 different investors in on the project. These different investors are coming from 43 different countries; each had to fund a minimum of $500,000.
The investors are a part of the EB-5 foreign investment program, a program designed to bring in jobs to the area. Foreign investors are granted a green card (on specific conditions) if they invest in properties in the area that are going to provide jobs.
The portion of the $125 million going into this beautiful location will provide a new hotel, a new lodge, and a new indoor water park. It is expected to create over 1,000 jobs as the renovations allow for the resort to become a full four-season resort. The financing system is also helping to provide two lodges to Sugarbush Ski Resort.