Vermont is fortunate to have a variety of capital and incentive programs. Capital sources range from angel investing to an array of debt sources at the Vermont Economic Development Authority and elsewhere. Our incentive programs have been rated amongst the best. Professionals at the Agency of Commerce and Community Development and our Regional Development Corporations are ready to help you identify the best source for your need and support you through eligibility and applications processes.
The BRF, administered by ACCD, offers grants and loans for remediation of brownfield sites. The funds are made available to Vermont from EPA and eligible applicants can be private developers, non-profits and municipalities. There is no limit on the size of a loan; it depends on the amount of capital available in the fund. Grants are available to eligible non-profits and municipalities.
Our programs help all of our "Best in Class" Vermont businesses succeed in international markets by providing international trade related educational seminars, trade show participation, technical assistance, and one-on-one consulting services. In many areas we also provide grants and funding for your business to obtain the exposure and necessary infrastructure to make an international transaction possible.
Investments are needed at many stages in a business growth. These investments can take different forms, starting with "friends and family" and moving to more institutional investors. Following are links to some of the many resources available in Vermont. Capital sources from outside Vermont and foreign sources are also active in Vermont.
The Northern Border Regional Commission, a federal-state partnership for economic and community development, has announced its 2018 awards, which total $2,881,700 for Vermont. The NBRC invests in community and economic development projects in economically distressed counties across Maine, New Hampshire, Vermont, and New York. In Vermont, all 14 counties are included in the NBRC eligible service territory.
The U.S. Department of Defense (DoD)'s Office of Economic Adjustment (OEA) provides grant assistance to state and local governments, and instrumentalities of local governments, as they respond to a defense industry action, such as base closure or realignment, changes in defense contracting, or as they address land use compatibility with the military. Their mission is to support and build relationships with communities impacted by defense program changes by focusing on developing community adjustment strategies. These relationships will elevate the technological knowledge and sophistication of defense-related small and medium-sized manufacturers (SMMs), improving their competitiveness, ability to innovate, and overall value to the DoD.
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.
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.
Vermont Training Program (VTP)
The VTP partners with employers and training providers to train Vermont's employees for the jobs of tomorrow. VTP provides performance based workforce grants for: pre-employment training, training for new hires and incumbent workers.
The WCEDP is meant to promote economic development in Windham County by providing funds to stimulate job creation through business start-up, expansion, or relocation, encourage entrepreneurial activity, and strengthen the economic development infrastructure to ensure a strong foundation for transformational economic activity.