Economic Development Resources
- Vermont Training Program (State of Vermont)
VTP partners with employers and training providers in order to prepare Vermont employees for jobs of the future. This program provides grants for up to 50% of training expenses to allow for employees to receive proper training.
- Community Recovery and Revitalization Program (State of Vermont)
This program provides funding for projects where economic and revitalization assistance is needed across the state. Eligible uses for these funds include capital improvements related to the renovation or creation of childcare and affordable housing for low and moderate income households, capital projects that assist nonprofits and small businesses in industries most impacted by the COVID-19 pandemic, and municipal water supply and wastewater projects that build housing or create jobs through business creation and expansion.
- Business Incentive and Assistance Program (Rutland Redevelopment Authority)
BIAP is a program created to leverage recently enhanced solar tax and revenue to support future business investment and job creation. The program offers secured loans for up to $50,000 for qualifying businesses. There are also unsecured loans of up to $10,000 and opportunities for $5,000 grants which may be used to supplement equipment.
- Vermont Employment Growth Incentive (State of Vermont)
The VEGI provides cash payments to businesses that have been authorized to earn the incentive and who meet the performance requirements. The amount of each payment depends on the revenue return generated to the state by prospective qualifying jobs, payroll creation, and capital investments. In order to receive authorization for the program, an application process occurs through Vermont Progress Council, who then determines if the company and project meet approval requirements.
- Vermont Economic Development Authority (State of Vermont)
VEDA offers commercial financing that provides innovative, low interest loan programs that fill the financing gap for a commercial start-up or expansion project. VEDA will work directly with the businesses, or in a partnership with a commercial lender. VEDA will customize the financing solutions to fit the needs of the business projects.
- Vermont Agricultural Credit Corporation (State of Vermont)
Through this program, loans are available to Vermont farmers, agricultural facilities, forestry and forest product based businesses to aid in starting a business, strengthen existing farm operations and encourage diversification.
resources gathered by Sydney Carvajal
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