New Montpelier grant available for businesses relocating or expanding

Montpelier Development Corporation Announces Final Project

Vermont Business Magazine The Montpelier Development Corporation (MDC) announces the launch of the “Montpelier Grows” grant, an exciting new program to recruit and/or support high-impact businesses to Montpelier. MDC will provide grants of significant amounts to businesses that commit to make Montpelier home, and those that plan to grow within Montpelier’s City limits.

The objective of this grant program is to drive economic growth now and in the future, stimulate commerce, and enhance employment opportunities in Montpelier. This effort is aimed at providing support for key businesses that would otherwise be unable to open or expand in Montpelier.

MDC’s “Montpelier Grows” grants are for new or current businesses that will significantly impact the economic outlook for Montpelier and spur the reversal of the downturn caused by COVID-19.

William Kaplan, who is the Chair of Montpelier Development Corporation board of directors, says that the initiative is focused on bringing growth to Montpelier: “This is an important moment for the long-term vibrancy and health of Montpelier’s economy. MDC is looking forward to supporting a new or expanding business that will truly enhance Montpelier by contributing to the local flavor and offering employment opportunities.”

Current local businesses seeking to expand or grow their operations within Montpelier City limits are also eligible for the award. Applications from BIPOC and women-owned businesses are strongly encouraged. To learn more, please visit: www.mdc-vermont.com.

This project is the exciting culmination of the successful work of MDC and the City of Montpelier’s 5-year charter to invest and recenter the economic development within the community of Montpelier. Since its inception, MDC has been an economic engine in Montpelier, attracting new businesses, supporting innovation, policy, development, and investment in the City. In 5 years MDC has played an integral role the following:

• Attracting 8 new employers

• Establishing and implementing the Montpelier Economic Need & Distress Fund, through which 74 downtown businesses received over $200,000 in funding for COVID relief

• Supporting the establishment of Tax Incremental Financing (TIF) District in Montpelier to achieve targeted downtown investment

• Bond Approved by Voters for public parking garage

• Caledonia Spirits New Distillery- selecting, opening and growing in Montpelier

• 30,000 additional visitors annually

• Creating over 100 new jobs

• Providing funding for the COVID business Navigator through Montpelier Alive

• Providing funding for the post - COVID business growth and attraction program through Montpelier Alive

Montpelier Development Corporation (MDC) has served the last 5 years as the steward of the Economic Development work group for Montpelier. Working closely with local government, area businesses and organizations, individual entrepreneurs, organizations and businesses. MDC worked tirelessly to positively impact the economic future of the Montpelier community.