EB-5

For decades an abandoned paper mill sat in the center of Lincoln and Butch Burbank says it has been depressing driving past it. It was a reminder of a prosperous past and challenging future.

But now there’s a new building there. It’s called RiverWalk at Loon Mountain and it opens in June, the latest addition to a town that now lives on tourism.

“For someone who has lived in this area all my life and remembers the old mill and what was there and what is going up now, it is pretty exciting,” he says.

Starting around 2008, as the economy began struggling and banks got skittish about lending, foreign investors began sending hundreds of millions of dollars into Vermont.

They were attracted by a federal EB-5 visa program administered by the state of Vermont.

It allows foreigners willing to invest at least $500,000 to get green cards and live in the United States.

New Hampshire didn’t have anything like it, but the state is warming to the idea.

NHPR’s Chris Jensen reports.

Sound  of construction……

Heavy machinery at work.