It's hard to know where to begin talking about the collapse of the EB five program in the Northeast Kingdom. We’re not at the beginning and we’re certainly not near the end. And just as certainly, all is not lost from an economic development point of view.
Jay Peak, largely with EB-5 foreign investment money, has turned into a four-season resort, just as Bill Stenger imagined. He sought to do the same at Burke Mountain. It’s pretty clear he will not now lead the effort
But there are tens of millions of dollars in investment and hundreds of year-round jobs at stake and the state, to the best of its ability, must do what it can to help ensure the viability of these projects, not only for economic development, but for the peace of mind of Vermonters living in the Northeast Kingdom.
The nearly complete Q Burke Hotel should be the first order of business and the demolition site in downtown Newport should be second.
The Newport site is an open wound covered with weeds and cracked cement and imprisoned by a chain-link fence festooned with warning signs. It’s a metaphor for everything that went wrong.
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