Economic Development Dept: ARPA, Aerospace; Captives; Quebec; APEX Accelerator

First Lady Applauds Vermont's Tech Education

Last week, Vermont welcomed First Lady Dr. Jill Biden as part of the Biden Administration’s “Investing in America” tour. Along with U.S. Secretary of Education Miguel Cardona, Dr. Biden and members of Vermont’s Congressional Delegation toured BETA Technologies and spoke with students from North Country Career Center, highlighting the work being done in Vermont to prepare students for technical and trades careers. Federal investments through the Bipartisan Infrastructure Bill and the CHIPs and Science Act mean millions of dollars are available to further this type of workforce development and create opportunities for Vermonters seeking these in-demand careers. Read more about Dr. Biden’s visit and learn about state and federal resources available for Vermont businesses.

Aerospace Collaboration Celebrated in Quebec

Last week, a delegation from Vermont traveled to Quebec to attend the international aerospace trade conference, Aeromart. Six Vermont companies joined the delegation to meet with potential buyers in the aerospace supply chain. ACCD Deputy Secretary Tayt Brooks and Director of International Trade and Business Recruitment Tim Tierney, along with Montreal-based economic development firm CIDEP, met with 13 companies looking to expand into the U.S. market and considering Vermont as their target location.

As part of the event, organizer Aéro Montréal celebrated the 10th anniversary of a collaborative agreement establishing a strategic trade corridor that extends throughout the northeast, linking Vermont’s $2 billion aerospace manufacturing and civil aviation industry with the $17.8 billion Quebec aerospace cluster. To learn more about the trade corridor, visit vtchamber.com. To learn more about export support available for Vermont companies, visit accd.vermont.gov.

Registration Open for Export Compliance Trainings

The final two export training webinars in the Trade Talk Tuesday series will cover export compliance. Exporters of all experience levels will learn how to build a secure and compliant system in accordance with U.S. regulations. Topics will include licensing and documentation, the Harmonized Tarriff System (HTS) classification system, and common errors with Electronic Export Information (EEI) filings. Trainer Mike Allocca of Allocca Enterprises will explain new export security requirements for all exporters.

Trainings are virtual and take place on the following Tuesdays from 10am-12pm. A separate registration is required for each session and costs $50 per class.

• Export Compliance - April 18, 2023 - Register Here

• Export Compliance 201 - May 9, 2023 - Register Here

This training series is coordinated by the Vermont Department of Economic Development and the U.S. Commercial Service and funded in part through the State Trade Expansion Program (STEP), a grant with the U.S. Small Business Administration. For more information about the trainings or about STEP, contact [email protected].

Commissioner Goldstein attended a launch party for the Vermont Captive Emerging Leaders group where Captive Insurance Economic Development Director Brittany Nevins, the Chair of the initiative, gave a speech to those in attendance about its importance to the Vermont economy.

Captive Industry Launches Emerging Leaders Initiative

Rising captive insurance professionals are working to address workforce challenges for the long-term success of the industry. To raise awareness of the captive industry as a career choice in Vermont and to offer support for new and emerging captive insurance professionals, the Vermont Captive Insurance Association (VCIA) launched the Vermont Captive Insurance Emerging Leaders group. The initiative is a collaboration among new and developing professionals from the Vermont captive industry with the VCIA, Department of Economic Development, and Department of Financial Regulation to form a dedicated group aimed at promoting the captive insurance industry to the next generation, conducting networking opportunities, and supporting developing professionals in their career journeys. Learn more at vcia.com.

VT APEX Accelerator Recognized by National Association

Vermont APEX Accelerator Director Joanne Spaulding has been elected to the Association of Procurement Technical Assistance Centers (APTAC) Board of Directors for Region 1 (New England) after serving as the Interim Region 1 Director. Joanne was sworn in at APTAC’s annual meeting where Vermont APEX Accelerator counselors Brenda Plastridge, Babette Lizotte, and Bonnie Sanders were also recognized by the association for completing coursework that will allow them to further assist Vermont businesses to successfully bid for government contracts. Learn more about how to work with Vermont's team of procurement specialists at apex.vermont.gov.

New Opportunities

DEI Training Available
at Tourism Summit

The Vermont Department of Tourism and Marketing (VDTM) is sponsoring a half-day diversity, equity, and inclusion (DEI) training led by Travel Unity on Wednesday, April 26 from 8am-12pm prior to the 38th Annual Vermont Tourism Summit. This training is open to professionals from all industries and attending the Summit is not required to attend the DEI training.

The cost to attend the training is $25 and space is limited—register early to secure your spot.

SBA Storm and Flooding Disaster Loans

Low-interest disaster loans are available through the U.S. Small Business Administration (SBA) for physical property damages that occurred from severe storm and flooding on December 22-24, 2022. Eligible nonprofit organizations in Chittenden, Essex, Franklin, Grand Isle, Lamoille, Orange, Orleans and Washington counties may borrow up to $2 million to repair or replace damaged or destroyed assets at a 2.375 percent interest rate.

The deadline to apply is May 19. Learn more and apply on the SBA website.

Vermont Department of Economic Development
1 National Life Dr
Montpelier