The Ambitious Vision Behind Jay Peak

In December 2012, journalists spotlighted Jay Peak, a struggling Vermont ski resort, and its ambitious expansion plans aimed at revitalizing the local economy. Bill Stenger, an owner of Jay Peak, discussed a $900 million development project that promised to create 10,000 jobs through various recreational and hospitality facilities, including a massive indoor water park. The project was funded through the EB-5 visa program, which allowed foreign investors to obtain American green cards in exchange for substantial investments. However, despite the optimistic projections, there were underlying suspicions regarding the project's sustainability given the rural area’s low tourism levels.