JAY, Vt. -
Big news came from Jay Peak today. Lawmakers and investors announced that more than 5-thousand jobs will be coming to the Northeast Kingdom.
Nine-hundred-million dollars is going to be invested into four different areas in the northeast portion of Vermont.
The President and CEO of Jay Peak laid out the vision for the future today.
Projects in some areas are already underway.
"Five thousand jobs, nine hundred million dollars worth of investments," Governor Peter Shumlin exclaimed.
All right here in the Northeast Kingdom. The vision for the future was laid out Thursday for a room full of locals who will do much of the work. One part of the plan is to expand Jay Peak.
"15 new trails, glades, three new lifts and a base village," Bill Stenger, Jay Peak President and CEO said.
Snow making improvements on Burke Mountain, as well as four new lodges that will pop up in the coming year. Plans for Newport are also in the works. A marina hotel and convention center, a complete renovation of the downtown, and because transportation is vital to growth, a bigger and better airport.
"This is extraordinary stuff," Gov. Shumlin said.
The plan also includes a new manufacturing business specializing in high efficiency windows.
"Bringing forth products that cut greenhouse gas emissions and save people money on their fuel bills," Senator Bernie Sanders said.
A bio tech research facility will be built, where science and medicine advancements could create answers for the future.
"Where we're producing kidneys and livers for the next generation of people," Gov. Shumlin said.
Senator Sanders says even though it's a gorgeous area... "You can't live on beauty alone," So this major economic development means kids who grow up in this area can stay in this area.
"Have decent jobs and earn decent wages right here in their own communities," he said.
Perhaps one of the most interesting parts about this enormous project is that it won't cost taxpayers a single penny. A government program called "EB5" grants out-of-country investors visas.
