A $4 billion investment from the US to build villas at the Stonefield resort in France will create more than 3,400 jobs and create 1,500 new ones in the United States, according to the deal signed Tuesday.
The deal is part of a new effort by the US and France to develop the world’s second-largest ski resort.US President Donald Trump, who toured the Stonefields in May, has said he hopes to expand the resort’s capacity to accommodate a growing number of tourists.
He plans to host a state visit to France in 2019, according the White House.
The Stonefield Resort in Stonefield, New York, was built by a French firm in 1960 and is owned by the French government.
The villas, each of which cost about $50 million, will be built on the site of Stonefield Ski Area, a ski area where more than a million people ski each year.
Stonefield was designed by architect Jean Nouvel and opened in 1963.
It was the first ski resort in the US.
The $4 million investment is a huge boost to the Trump administration, which has been seeking to lure tourists from Europe and elsewhere, and has been trying to build a ski resort from scratch in the Alps since 2011.
The president has been pushing for a more traditional ski resort, which he sees as a model for his planned resorts in the Pacific Northwest and elsewhere in the Northeast.
Trump has called for a return to the Alps and said he would be interested in hosting a state-of-the-art ski resort somewhere in the world.
The White House did not provide specific details about the villas.
The Trump Organization did not immediately respond to a request for comment.