ski guyRAGGED MOUNTAIN LURES FOREIGN CASHOLA
October 19th 2011 21:01
An obscure, medium sized day ski area, tucked away in the
hills of southwestern New Hampshire is attempting to lure
wealthy foreign investors to invest in the place. Ragged
Mountain ski area, under a USA law loophole, EB-5, allows
well-to-do foreign investors to purchase an extended stay
visa for themselves and their family, if..........they part with
US$500,000 as an "investment" in an approved operation.
Ragged Mountain's current owners, the Utah-based Pacific
Group is flashing the EB-5 lure now on websites in a multitude
of languages worldwide.
This place has had, shall we say, an "interesting" blend of past
owners over the past three decades. They added golf
courses, new base lodges, snowmaking......you get the
picture.
But, no matter how much mismanaged money you spend,
you can't raise the vertical drop by more than perhaps 100
feet.
Ragged Mountain is what it is, a decent day destination ski
area for locals and budget-minded weekenders from the Boston
metro area.
Pacific Group's grandiose vision of raising US$35 million from
EB-5 eligible "green card" seekers might work. But is the business
model sustainable.........will megabuck spending draw the critical mass
of regular skiers and riders needed to support such an investment?
hills of southwestern New Hampshire is attempting to lure
wealthy foreign investors to invest in the place. Ragged
Mountain ski area, under a USA law loophole, EB-5, allows
well-to-do foreign investors to purchase an extended stay
visa for themselves and their family, if..........they part with
US$500,000 as an "investment" in an approved operation.
Ragged Mountain's current owners, the Utah-based Pacific
Group is flashing the EB-5 lure now on websites in a multitude
of languages worldwide.
owners over the past three decades. They added golf
courses, new base lodges, snowmaking......you get the
picture.
But, no matter how much mismanaged money you spend,
you can't raise the vertical drop by more than perhaps 100
feet.
Ragged Mountain is what it is, a decent day destination ski
area for locals and budget-minded weekenders from the Boston
metro area.
Pacific Group's grandiose vision of raising US$35 million from
EB-5 eligible "green card" seekers might work. But is the business
model sustainable.........will megabuck spending draw the critical mass
of regular skiers and riders needed to support such an investment?
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