Entrepreneurial group buys Powder Mountain.

• Author: Lewis, Di
• Position: NORTHERN AREA

Eden - SUMMIT, a national entrepreneurial group. purchased Powder Mountain as its permanent base. While the group won't confirm a purchase price, Business Insider reported it was likely around $40 million.

"For us, Summit began with an idea that we can do better." says Jeff Rosenthal, Summit co-founder and curator. "We can build better businesses that affect both the world in a positive way and the bottom line. We can be better environmental stewards. We can support effective nonprofits that impact the world."

The group began in 2008 in Park City with only 19 people. It's grown exponentially since then, largely on the back of the Summit Series, a four-day meeting of entrepreneurs, including some of the most well-established names in business.

"It has become, in America, the most impactful event for a generation of folks," says Summit co-founder and CEO Elliott Bisnow, which was called "the hipper Davos" by Forbes.

One of Summit's goals is environmental protection. Bisnow says the area dovetailed so well with the company's goals that it seemed to be a perfect fit.

"In the same way that Sundance has had a big impact when you think of Utah. And the Olympics." he says. "Those have really changed the way people have perceived the state, and we're really hoping that over the long term we can have that same sort...