Department of Economic Development

Vermont Employment Growth Incentive (VEGI)

The State of Vermont offers an economic incentive for business recruitment, growth and expansion. The Vermont Employment Growth Incentive (VEGI) program can provide a cash payment, based on the revenue return generated to the State by prospective qualifying job and payroll creation and capital investments, to businesses that have been authorized to earn the incentive and who then meet performance requirements.

Basic VEGI Program Information
VEGI Application Forms and Instructions
VEGI Application and Claim System Information
VEGI Annual Claim Forms and Instructions
Detailed VEGI Program Information
VEGI Program Data and Illustrations
Vermont Economic Progress Council
Helpful Links

The VEGI program provides incentives from the State of Vermont to businesses to encourage prospective economic activity in Vermont that is beyond an applicant’s “organic” or background growth and that would not occur, would not occur in Vermont, or would occur in a significantly different and less desirable manner, except for the incentive provided. The economic activity can be generated by a Vermont company or a Vermont division adding new qualifying employees, a company that is considering Vermont to locate a new business or division, or start-up business activity. Once authorized, the incentives can only be earned and installments paid if performance requirements are met and maintained.

Authorization for the incentives occurs through application to the Vermont Economic Progress Council, who must determine if the company and project meet statutory approval requirements. 

If a company is authorized, the total amount of incentive available is determined by a cost-benefit model analysis that calculates the revenue benefits and costs to the State, based on the qualifying jobs, payroll, and capital investments projected by the applicant, for up to five years following approval.

Basic VEGI Program Information

VEGI Program Summary (pdf)
VEGI Quick Program Facts (pdf)
VEGI Frequently Asked Questions (FAQ) (pdf)
VEGI Application Tips (pdf)
How is the VEGI Incentive Calculated (pdf)
VEGI Application Filing Deadline and Meeting Schedule

VEGI Application Forms and Instructions
 

VEGI Pre-Application: Use Only for Filing a Pre-Application to get an Incentive Estimate
Pre-Application Form (xls)
Pre-Application Instructions (pdf)
Pre-Application Common Error Checklist (doc)

VEGI Initial Application
Initial Application Checklist (pdf)
Application Workflow (Who Must Do What When - During Application Process) (pdf)
VEGI Data Worksheet (Use if you did not file a Pre-Application) (xls)

VEGI Final Application
Final Application Checklist (doc)
Final Application Checklist—when no Initial Application is filed (doc)
Application Workflow (Who Must Do What When - During Application Process) (pdf)
VEGI Base Employment Workbook (Download and file with Final Application) (xls)

VEGI Application and Claim System Information

VEGI Application and Claim System Website Portal
VEGI Application and Claim System Users Manual (pdf)
How to Create a User Account on VEGI Application and Claim System (pdf)
How to Reset Your Password on VEGI Application and Claim System (pdf)
2012 Claim Webinar Presentation (pdf)

VEGI Annual Claim Forms and Instructions

VEGI Application and Claim System Website Portal
Annual Claim Instructions (pdf)

2013 Claim Presentation

Annual Claim Workbooks (Download and file with Annual Claim):

Base Employment Data Workbook (xls)
New Qualified Employee Workbook (xls)
Non-Qualifying Employee Workbook (xls)
Qualifying Capital Investment Workbook (xls)

Detailed VEGI Program Information

Program Detail (pdf)
Administrative Rules and Regulations (pdf)
Statute (pdf)
Program Definitions (pdf)

Information About:
Activity Commencement Date (pdf)
Annual Performance Requirements (pdf)
Authorization Criteria (pdf)
Background Growth Calculation (pdf)
Background Growth Rate Chart (pdf)
But For (pdf)
Cost-Benefit Modeling(pdf)
Good Standing Requirement (pdf)
Green VEGI Incentive Enhancement (pdf)
Initial vs Final application (pdf)
Look Back Policy and Procedure (pdf)
Program Guidelines (pdf)
Regional Differential (pdf)
Sub chapter 5 Incentive Enhancement (pdf)
Wage Threshold (pdf)

VEGI Program Data and Illustrations

VEGI Authorization Summary – Through April 2014 - All Applications Considered (pdf)
VEGI Authorization Summary – Through April 2014 - Active Applications Only (pdf)
Annual Reports to the General Assembly
How VEGI works (pdf)
Where Do the Incentive Dollars Come From (pdf)
How is the Incentive Calculated (pdf)
Sample Incentive Levels (pdf)

Vermont Economic Progress Council

Who is the Vermont Economic Progress Council
Meeting Calendar, Agendas, Minutes
Strategic Plan (pdf)
Operating Procedures (pdf)
Contact US

Helpful Links

Regional Development Corporations
Regional Planning Commissions
North American Industrial Category System (NAICS)
Vermont Secretary of State
Vermont Department of Taxes

 

Fred Kenney, Executive Director, VEPC
Telephone: 802-777-8192
 

Kimberly Woolaver, Grants Management Specialist
Telephone: 802-828-3230