Mount Snow resort in Dover.
After a long wait, Mount Snow has gained access to $52 million in foreign investment funding and will move forward with two major improvement projects, administrators announced Tuesday.
Mount Snow’s parent company, Missouri-based Peak Resorts Inc., said a key approval issued by U.S. Citizenship and Immigration Services will allow the company to “immediately” access EB-5 program money that has been held in escrow.
The EB-5 money represents nearly 80 percent of a planned $66 million investment that will bring a new ski lodge, a much larger snow-making system and new jobs to Mount Snow over the next few years.
“We are exceptionally pleased that the EB-5 project funds can now be released from escrow so that we can continue project development,” said Timothy Boyd, Peak’s president and chief executive officer.
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