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
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Some people worry that OpenStack is more flash then substance; however, for many customers this could not be farther from the truth. No other technology equalizes the playing field between vendors while giving your internal teams better access than ever to infrastructure when they need it. In his session at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will talk through some real-world OpenStack deployments and look into the ways this can benefit customers of all sizes....
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
Ayehu provides IT Process Automation & Orchestration solutions for IT and Security professionals to identify and resolve critical incidents and enable rapid containment, eradication, and recovery from cyber security breaches. Ayehu provides customers greater control over IT infrastructure through automation. Ayehu solutions have been deployed by major enterprises worldwide, and currently, support thousands of IT processes across the globe. The company has offices in New York, California, and Isr...
"A lot of times people will come to us and have a very diverse set of requirements or very customized need and we'll help them to implement it in a fashion that you can't just buy off of the shelf," explained Nick Rose, CTO of Enzu, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Zerto exhibited at SYS-CON's 18th International Cloud Expo®, which took place at the Javits Center in New York City, NY, in June 2016. Zerto is committed to keeping enterprise and cloud IT running 24/7 by providing innovative, simple, reliable and scalable business continuity software solutions. Through the Zerto Cloud Continuity Platform™, organizations can seamlessly move and protect virtualized workloads between public, private and hybrid clouds. The company’s flagship product, Zerto Virtual...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Tintri VM-aware storage is the simplest for virtualized applications and cloud. Organizations including GE, Toyota, United Healthcare, NASA and 6 of the Fortune 15 have said "No to LUNs." With Tintri they manage only virtual machines, in a fraction of the footprint and at far lower cost than conventional storage. Tintri offers the choice of all-flash or hybrid-flash platform, converged or stand-alone structure and any hypervisor. Rather than obsess with storage, leaders focus on the business app...
Addteq is one of the top 10 Platinum Atlassian Experts who specialize in DevOps, custom and continuous integration, automation, plugin development, and consulting for midsize and global firms. Addteq firmly believes that automation is essential for successful software releases. Addteq centers its products and services around this fundamentally unique approach to delivering complete software release management solutions. With a combination of Addteq's services and our extensive list of partners,...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and sh...
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it m...
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...