In about a year, two new foreign companies expect to be
operating in Newport at the site of a former skiwear manufacturer. AnC
Bio, a Korean bio-tech firm, and Menck Windows, a German company, are the
centerpiece of a $600 million economic development initiative promising
to bring 10,000 jobs to the Northeast Kingdom.
Jay Peak co-owner Bill Stenger made a stunning proposal
earlier this fall to bring over $500 million and about 10,000 jobs into the
Northeast Kingdom, there were loud cheers, and only a few skeptics. Now
the hard work has begun: finding investors and training workers.
Vermont’s Northeast Kingdom is expected to receive $500 million and 10,000 jobs through a
program that allows people from outside the United States to obtain U.S.
residency in exchange for investments.
program that allows people from outside the United States to obtain U.S. residency in exchange for investments is seen as key
to a new development at Jay Peak ski resort. An
announcement planned for today at Jay Peak will outline multiple new projects planned in the Northeast Kingdom.
Considering this winter’s lackluster snow totals, area resorts are fishing for ways to "weatherproof" ski vacations. At Vermont’s northernmost ski resort, they’ve just put $25 million into building New England’s largest indoor water park.