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GARDEN CITY, Rich County — Plans for a $42 million resort were unveiled at Bear Lake Thursday.
Governor Gary Herbert was there as local leaders unveiled plans for Waters Edge, a resort that would include a hotel, condos, and more than 45,000 square feet of retail, restaurant, and business space.
The resort will be right along the beach, just about a block South of Highway 89. Developers say the whole idea is that you can get everything you need for your vacation here and then take short walk over the center of town.
"That's why we're doing better than any state in America," Herbert said. "The opportunity of risk, reward that we applaud, we like the entrepreneur."
In this case, the entrepreneurs are from Vietnam. Hai Huynh, lives in South Jordan but many of his business partners, who are investing big money are still in Vietnam.
"Because Utah, the economy is very good, but the lifestyle is very affordable right now," Huynh said. "(My business partners) don't know where Utah is. People in Vietnam, only know Las Vegas, Los Angeles, New York."
That's why we're doing better than any state in America. The opportunity of risk, reward that we applaud, we like the entrepreneur.
–- Gov. Gary Herbert
The state of Utah recently opened up those opportunities to foreign investors, through a special visa
Garden City Mayor, John Spuhler says that could lead to some positive growth in this town of less than 600 people.
"It's been referred to as the Caribbean of the Rockies forever, because of the crystal-blue water," Spuhler said. "So people want that, and I think more and more people are understanding that it's a reasonably priced vacation"
But for those who already know business in Garden City there's concern that big business could face some small town problems. There's concern that big business could face some small town problems.
Renee LaBeau has been running LaBeau's Drive In for more than 30 years. She says they started that famous tradition of raspberry shakes.
While the resort is still at least three years to completion, LaBeau says she hopes it will succeed, since more business could be good news for everyone.