Welcome!

News Feed Item

Ragged Mountain Resort EB-5 Program Hits Milestone

U.S. Citizenship and Immigration Services Grants Investor I-526 Approvals on Project

DANBURY, NH -- (Marketwired) -- 10/02/13 -- Ragged Mountain Resort and the New Hampshire EB-5 Regional Center jointly announced today that the United States Citizenship and Immigration Services granted the first two I-526 investor approvals for the project. Based on the typical operating mode of the USCIS, more approvals are expected soon for those investors who have already placed funds with the Regional Center.

The United States EB-5 program allows foreign investors who are granted an I-526 approval to receive a 2-year conditional "green card" if they pass an extensive background check and invest a certain amount in approved projects that create a minimum amount of American jobs. The program was established in 1991, and citizens of China, South Korea, and England have been the largest beneficiaries of the program over the course of the past 22 years.

"The I-526 approvals are important for each EB-5 project because that is what allows the investors to receive a 2-year conditional 'green card,'" explained Dave Strong, president of the New Hampshire EB-5 Regional Center. "During that time, the USCIS performs detailed analysis and review to determine if the investment has created the required number of permanent American jobs along with other required criterion. If so, the EB-5 investor could then receive a permanent green card and begin realizing the benefits of living and working in the United States."

Pacific Group, the owner of Ragged Mountain, started the New Hampshire EB-5 Regional Center two years ago as a means of financing improvements and growth at the resort. Based on the investments received to date, and the USCIS approvals, the resort has begun construction of a new snow tubing park, expanded beginner terrain, and a new food service location to better serve the guests. Just those investments are expected to support a significant number of permanent jobs at the resort. Many more jobs will be created as the resort clears and opens additional ski terrain on Pinnacle Peak, which is an adjacent mountain top with a slightly higher elevation just to the east of the existing resort summit. If the New Hampshire EB-5 Regional Center raises its full goal of $35 million in capital, a minimum of 700 new jobs will be created in and around Danbury, New Hampshire.

"We've been very fortunate," noted Mike Clark, Director of the EB-5 program for the New Hampshire Regional Center. "We received our first two I-526 approvals in just about 8 months, and we didn't have any questions from the USCIS on either of them. This paves the way for other approvals, and it is very gratifying for our team who has worked extremely hard to provide clean documentation for our investors."

ABOUT THE EB-5 PROGRAM

A foreign national, who must pass an extensive background check, may gain access to permanent "green card" status in the United States by investing at least $500,000 into a project or business that has been approved by the USCIS in a rural or economically distressed area. For each $500,000 invested, 10 permanent U.S. jobs need to be created for the investor to qualify for "green card" status. More information about the EB-5 program is available at pgc.us/eb5.php.

ABOUT THE NEW HAMPSHIRE EB-5 REGIONAL CENTER

The New Hampshire EB-5 Regional Center ( nheb5rc.com/ ) was founded in 2010 to provide funding for projects associated with Ragged Mountain in Danbury, New Hampshire. The Center has a goal of raising $35 million which, if fully realized, would create at least 700 new American jobs in a rural area. The New Hampshire EB-5 Regional Center was founded and sponsored by Pacific Group, a Salt Lake City based developer, operator and owner of Ragged Mountain Resort.

ABOUT PACIFIC GROUP

The Pacific Group is a premier developer responsible for billions of dollars of commercial real estate development and construction of resort properties, industrial business parks, retail, office buildings, multi-family apartment and condo buildings, and master planned communities. (www.pgc.us) Together the Pacific Group's management, affiliates and partners have constructed over 1,000 projects including some of the finest golf and ski resort properties throughout North America such as Copper Mountain Village, Colorado; Wolf Creek Ranch, Utah; Village at Squaw Creek, Lake Tahoe CA; Village at Mammoth CA; and Ritz Carlton North Shore, Vancouver Canada.

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2420312

Add to Digg Bookmark with del.icio.us Add to Newsvine

Media Contacts:

Mike Clark
(801) 886-2000
Email Contact

Mark Fischer
(410) 336-9981
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
"Codigm is based on the cloud and we are here to explore marketing opportunities in America. Our mission is to make an ecosystem of the SW environment that anyone can understand, learn, teach, and develop the SW on the cloud," explained Sung Tae Ryu, CEO of Codigm, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, discussed how by using ne...
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketing and Strategy at CA Technologies, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"There's plenty of bandwidth out there but it's never in the right place. So what Cedexis does is uses data to work out the best pathways to get data from the origin to the person who wants to get it," explained Simon Jones, Evangelist and Head of Marketing at Cedexis, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
Enterprises are moving to the cloud faster than most of us in security expected. CIOs are going from 0 to 100 in cloud adoption and leaving security teams in the dust. Once cloud is part of an enterprise stack, it’s unclear who has responsibility for the protection of applications, services, and data. When cloud breaches occur, whether active compromise or a publicly accessible database, the blame must fall on both service providers and users. In his session at 21st Cloud Expo, Ben Johnson, C...
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...