The ThinkVermont Innovation Grant Program was created to respond to the growth needs of Vermont small businesses with 20 or fewer employees by funding innovative strategies that accelerate small business growth. The initiative will enable the State to invest in projects with grants that can be accessed more quickly and with fewer restrictions than traditional federal initiatives. The appropriation for this program is $150,000.
On May 21, 2018, Governor Phil Scott signed H.378 (Act 137) into law. The Act creates an Artificial Intelligence (AI) Task Force to assess: the development and use of AI Technology; whether and how to use AI in State government; and whether state regulation should be considered.
Attracting new businesses and expanding Vermont’s workforce — that’s always been an objective of the Agency of Commerce and Community Development. In an effort to best accomplish these goals, DED has been implementing a new Economic Development Marketing Plan, a strategic document that outlines specific marketing tactics to generate economic growth. One of the core components of the strategy is the recently redesigned ThinkVermont.com website that serves as a hub for inspiring stories, encouraging statistics and lots of links to useful information for potential residents, existing Vermont businesses, and businesses looking to relocate or expand into Vermont.
Vermont became one of the few states in the nation to complete a statewide comprehensive economic development strategy (CEDS). The Vermont 2020 CEDS was completed with immense help and input from stakeholders around the state and with the generous guidance and funding from the U.S. Economic Development Authority. The CEDS establishes strategies that can move us toward accomplishing those goals. The document also identifies the 12 target business sectors that have a strong likelihood of growing our economy and enhancing the quality of life for Vermonters. It suggests projects and initiatives that can help each action area and sector grow. It anticipates future events and identifies tactics that will help us build resiliency.