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Jay Peak, Inc.Direct Loan Program
Jay Peak, Inc. (Jay Peak) is one of Vermont's premier ski resorts and a significant part of the Northeast Kingdom economy, employing 650 people during its winter peak season. The ski area has 76 trails covering an estimated 450 acres, a peak elevation roughly 4,000 feet above sea level, and a 2,150 ft. vertical drop. Jay Peak is well known for receiving more natural snowfall than any other ski area in the Northeast.
VEDA has assisted Jay Peak several times over the years as part of Jay Peak's ongoing, long-term plan to transform the ski area into a four-season destination resort. Specifically, VEDA previously helped fund improvements to the Resort's European Style Tram, the purchase and installation of a high-speed detachable quad chairlift, and construction of Jay Peak's championship 18-hole golf course.
In FY2008, VEDA approved a new $800,000 Subchapter 5 Direct Loan to partially fund a $2 million project to replace the cables on the resort's tram. In conjunction with this project, Jay Peak is constructing a new 57-unit hotel adjacent to the tram.
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For a limited time through the Economic Recovery and Opportunity Program (EROP), VEDA will offer the lowest rates in its history. Click here to learn more
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