Among the many troubling questions raised by the financial disaster that has befallen the Northeast Kingdom since the government has accused the operators of the Jay and Burke ski areas of operating a Ponzi scheme is one aimed at the heart of the entire financing structure:
Why is the government selling immigration visas to foreigners in exchange for substantial investment in economic development programs?
Acknowledged, this is a region long on natural beauty but short on capital necessary for development and job creation. In the face of such needs, government officials often decide to address the issue by creating incentives to attract investment. The record on many such programs is mixed at best, and in the case of the EB-5 program to attract investment to Burke and Jay it is nothing short of disastrous.
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