Today I read some news in the Caledonian Record newspaper that for lack of better words I have mixed feelings about.
China isn't coming to Vermont and I do not believe they're coming to New Hampshire either.
Substance of this statement: There is a Federal based program called the EB-5 program where Chinese investors can trade U.S. investment for visas issued for emigration to this country.
Cash for access this is what this is.
Newport, Vermont is an economically depressed area and the Vermont Congressional Delegation has been working very hard to get some of this investment into this area. Of course there has to be press releases about this massive investment and the jobs that it will create, and on and on. Same type of idea was mentioned in New Hampshire just at a smaller scale. The Owl's Head Resort in Campton, NH was talking about the EB-5 and their planned use of it.
I'm reading that in Vermont the principles of this whole EB-5 idea have scaled back their intention(s) and are now seeking "traditional investors." for their economic resurgence in the Newport area. I don't have the article in front of me but I believe it's termed the "Renaissance Center."
In one sense this is bad because how can anyone make an arguement against creating needed jobs? But on the other hand I've been and am skeptical of using capital from Communist China in exchange for access and what kind(s) of politics is really behind an idea like this.