Wednesday, October 26, 2011

Saddleback - EB-5 Investment Program

Saddleback GM Chris Farmer
Saddleback GM Chris Farmer spearheaded the designation of Franklin County (and Livermore Falls) a EB-5 zone. From what I understand, it basically means foreign investors can invest in Maine companies in the EB-5 zone and if their investments lead directly to jobs, they get expedited Visa's for themselves and their families.

Some controversy around this program. Some object that wealthy foreigners can buy their way into the country. But with banks and VC's hesitant to lend money, I think this is a very good way for businesses in rural communities to get investment and create jobs... which is what we need in this rural economy.

Good news for our favorite mountain. The program itself is complex so it will take time for investment to develop, but hopefully in the future we will be hearing about expansion plans for new lifts and lodging. This is what Jay Peak Resort in Vermont used to fund all their recent expansion.

February 5th, 2012 Update:
USA Lifestyles inc., is the company behind the Franklin County EB-5 program and now has a website up. There is a video slideshow explaining the Saddleback investment opportunity in detail. Interesting stuff!

Here are some additional links if you want to learn more:

Jay Peak EB-5 Program

Business Week Article on EB-5

Portland Press Herald Article on EB-5

Saddleback Press Release

Snow in the forecast later this week!

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