Foreign cash for U.S. jobs
The little-known EB-5 visa program offers international investors a deal: Put up $500,000 for a project that creates 10 jobs and get a green card in return. Here's a look 5 projects funded through the program.
Jay Peak Ski and Summer Resort
Jay, Vt.
$17.5 million from 35 investors
350 jobs
$17.5 million from 35 investors
350 jobs
Founded in 1955, Jay Peak has expanded from a winter ski resort to a three-season retreat. To fund further growth, it's tapped the EB-5 program to help raise $100 million.
"This capital will help us build year-round facilities that we desperately need in order to be competitive, but also helps us create full-time job opportunities for so many citizens throughout Northern Vermont's highest unemployment communities," Jay Peak owner Bill Stenger said recently at a Congressional hearing. "This program can really help other small businesses in Vermont."
NEXT: Northern Beef Packers
LAST UPDATE: Jul 29 2009 | 2:32 PM ET
| Sponsored by |
More Galleries
It's hard to predict what businesses will take off, but these startup ideas have been drawing tons of interest from entrepreneurs and their customers on Thumbtack.com. More
Thirteen states increased the minimum wage on Jan. 1, and President Obama supports raising the federal rate to $10.10. 4 small business owners weigh in on how an increase would affect them. More
From a science camp for girls to a kombucha brewer, communities around the country voted on their favorite small businesses. These 12 came out on top, each scoring a $250,000 grant from Chase and a trip to Google's headquarters. More
Sponsors
.
