Peak Resorts: The New ASC?

slatham · May 26, 2016

You sure its 1,000 and it's NEW jobs? I thought in that region there was also allowance for job retention? If it is a 1,000 new jobs, it must be for the overall project which includes not only Carinthia base but also Sundance. But I do not know, this is a question.

steamboat1 · May 26, 2016

Smellytele said:
I thought they were using the "save jobs" clause. ???

Was Mount Snow a troubled business like Sugarbush was? I find that unlikely.

steamboat1 · May 26, 2016

slatham said:
You sure its 1,000 and it's NEW jobs? I thought in that region there was also allowance for job retention? If it is a 1,000 new jobs, it must be for the overall project which includes not only Carinthia base but also Sundance. But I do not know, this is a question.

Using job retention is only allowed when a business is deemed to be troubled. Vt. already has a special clause for being a depressed area which allows EB-5 investors the opportunity to invest only $500,000 to receive a green card. In other non depressed areas of the country the minimum investment is $1,000,000.
Sugarbush was allowed to use the troubled business clause so they only needed to prove job retention. Jay Peak & Burke were not. I haven't read anything saying Mount Snow was declared a troubled business.
With $52m in EB-5 money being used the requirement for new job creation is 1,040 jobs.

slatham · May 26, 2016

After last winter, all VT ski areas are "troubled" - skiers too! I'm down right disturbed!

BenedictGomez · May 26, 2016

steamboat1 said:
It's said EB-5 can't be used for new lifts because a new lift doesn't create enough jobs. How many "new" jobs does a new snowmaking system create especially since there was already snow making jobs with their existing system. Same applies to an old base lodge versus a new base lodge, jobs already existed.

They're likely employing the economically bogus, "jobs saved" sham metric which I've written about here before.

steamboat1 · May 26, 2016

BenedictGomez said:
They're likely employing the economically bogus, "jobs saved" sham metric which I've written about here before.

I've already addressed that BG. Unless they were categorized as a troubled business they can't use that metric. I don't remember reading anything saying that they were. After all they just installed a multimillion dollar bubble six pack a couple of years earlier using their own funds albeit borrowed. Doesn't sound like a troubled business to me.

cdskier · May 26, 2016

I'd be curious to know as well where Mt Snow said the jobs would come from in the info they sent to investors. Even Mt Snow's EB5 website doesn't list any of that type of info. I can see this creating some additional jobs at Mt Snow directly or just in the area overall if they really get more visitors as they think they will, but nowhere near the 1000+ that they technically need.

mbedle · May 26, 2016

Most of the jobs that they count are not located at the resort. I've talked about this on the burke thread and you need to think a little outside of the box to consider how many jobs this project creates. It goes as deep as counting a percentage of a person that manufactures the soap used in the lodge, the boxes that hold the soap, the fixtures, the carpet, the tile, the person who makes the steel to produce the pipes, the person that makes the pumps, the wielding tanks, the additional staff at the local convince store due to increased traffic. It doesn't have to result in a person getting hired full time solely for this project. Hence the reason they can only take a percentage of the credit for indirect jobs.

deadheadskier · May 26, 2016

That's all well and good, I just think most people think the formula for figuring that stuff out involves fuzzy math.

thetrailboss · May 26, 2016

steamboat1 said:
Using job retention is only allowed when a business is deemed to be troubled. Vt. already has a special clause for being a depressed area which allows EB-5 investors the opportunity to invest only $500,000 to receive a green card. In other non depressed areas of the country the minimum investment is $1,000,000.
Sugarbush was allowed to use the troubled business clause so they only needed to prove job retention. Jay Peak & Burke were not. I haven't read anything saying Mount Snow was declared a troubled business.
With $52m in EB-5 money being used the requirement for new job creation is 1,040 jobs.

The $500k vs $1 mill is based on the demographics of the respective area being economically depressed.

Sent from my iPhone using AlpineZone

steamboat1 · May 26, 2016

thetrailboss said:
The $500k vs $1 mill is based on the demographics of the respective area being economically depressed.

Huh??? VT. is over 90% one demographic & it's not inner city children.

sull1102 · May 26, 2016

steamboat1 said:
Huh??? VT. is over 90% one demographic & it's not inner city children.

Huh? Vermont's economy is hurting BAD and has been for some time. Southern VT has been declared an economic development zone stretching from Brattleboro to Bennington and going north from there. This area needs every job possible.

steamboat1 · May 26, 2016

This used to be a manufacturing & farming economy neither of which is done here anymore. Just look at the label on your shirt or where your produce came from. Neither of which changes VT's demographic.

cdskier · May 26, 2016

steamboat1 said:
This used to be a manufacturing & farming economy neither of which is done here anymore. Just look at the label on your shirt or where your produce came from. Neither of which changes VT's demographic.

My ski socks are made in VT!

steamboat1 · May 26, 2016

cdskier said:
My ski socks are made in VT!

What's a ski sock?

I just wear nylon socks likely made somewhere in Asia.

cdskier · May 26, 2016

steamboat1 said:
What's a ski sock?

I just wear nylon socks likely made somewhere in Asia.

http://darntough.com/men/mens-ski-ride/padded-over-the-calf-ultralight

I first tried these 3 years ago or so and have never looked back...

steamboat1 · May 26, 2016

cdskier said:
http://darntough.com/men/mens-ski-ride/padded-over-the-calf-ultralight

I first tried these 3 years ago or so and have never looked back...

Never had those problems. Good boots beat good socks any day. I wonder where my boots were manufactured? Where are Solomon boots manufactured?

mbedle · May 27, 2016

deadheadskier said:
That's all well and good, I just think most people think the formula for figuring that stuff out involves fuzzy math.

I am sure there is some fuzzy math. But also remember they are not just filling in a number on every application and stating that they created 10 jobs. An other thing to keep in mind is the indirect job counts are done by an outside firm. It is not like Mount Snow is calling up pump manufactures and trying to find out if they hired someone. These job counts are not specific to each eb-5 project and are used by a lot of different companies and organizations.

Newpylong · May 27, 2016

steamboat1 said:
Huh??? VT. is over 90% one demographic & it's not inner city children.

You're not looking hard enough if you don't see poverty in VT.

cdskier · May 27, 2016

steamboat1 said:
Never had those problems. Good boots beat good socks any day. I wonder where my boots were manufactured? Where are Solomon boots manufactured?

I never implied that you should try to fix boot problems with socks :razz:

No idea where Salomon makes their boots. I'm sure it isn't VT though!

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