MESSAGE FROM COMMISSIONER GOLDSTEIN
Vermont Department of Economic Development Happy Holidays from the Department of Economic Development team!
2024 was another difficult year for many Vermont businesses, particularly those that once again experienced flooding. If you are shopping for gifts or celebrating this holiday season, please consider visiting businesses nearby. This is a great way that we can support our neighbors, and the local economy.
We look forward to reconnecting in the New Year as we collaborate to improve the economic well-being and quality of life for all Vermonters. Wishing you a happy and healthy holiday season.
Sincerely,
Joan Goldstein
Commissioner, Department of Economic Development
[email protected]
On the Road: Newport
Last week, the ACCD team visited Track Inc. to see their impressive snow grooming and brush mowing equipment repairs and sales operation. The business is housed in a newly renovated facility made possible through the Capital Improvement Program. The team also stopped by Columbia Forest Products, an employee-owned company with over 60 years of experience manufacturing veneer panels. They source much of their timber from Vermont and Northern New England.
(Left to right facing camera) Deputy Commissioner Brett Long, Nerwin Elezovic and Cindy Robillard of the Department of Labor, and Secretary Lindsay Kurrle.
‘Tis the season for TIF District visits!
Center: (Left to right) Ellie Beckett, VEPC Program Manager, and Jessica Hartleben, VEPC Executive Director.
This month, the Vermont Economic Progress Council team, legislators, and council members have traveled across the state to visit municipalities and see the transformative development happening in nine Tax Increment Financing (TIF) districts. Highlights included an inside look at the City Place Hotel/housing site in downtown Burlington, the massive water system project in Killington that will bring needed workforce housing development, and the Reid Commons Senior housing project in St. Albans that utilized the Brownfields Revitalization Fund, Community Recovery and Revitalization Program, and other federal dollars to bring necessary housing to the area and clean up a blighted section of the town.
Global Partnership at the Killington World Cup
Austrian Ambassador Petra Schneebauer joined Vermont leaders to cheer on the fastest women in the world as they competed in the Killington World Cup. The Ambassador visited Vermont after a Vermont delegation visited Austria’s “Green Heart State” region of Styria last month. The event was another opportunity to celebrate Vermont’s economic, educational, and military partnership with Austria.
(Left to right) Secretary Lindsay Kurrle, Ambassador Schneebauer, Vermont National Guard Adjutant General Maj. Gen. Gregory Knight, Governor Phil Scott.
Brownfield Revitalization Fund (BRF) Milestones
Secretary Kurrle, front row in white. [Image: Housing Trust of Rutland County]
- The Newport Crossing housing development is breaking ground on December 16. The RuralEdge project will add over 40 rental units in Newport City and Newport Center through new construction and rehabilitating existing buildings. ($310,568 from the Brownfield Revitalization Fund (BRF) bolsters this project.)
- On December 3, the Housing Trust of Rutland County and Evernorth celebrated a groundbreaking in West Rutland at Marble Village Apartments, which is set to bring 24 new units online. ($600,000 from BRF is bolstering this project along with $475,000 in Community Recovery and Revitalization Program investments.)
- The Vermont Farmers Food Center reached a significant milestone for Farmers Hall in Rutland. Following a three-year environmental remediation process, the Winter Farmers Market returned! ($800,000 from the BRF is bolstering this project along with $293,401 in Community Recovery and Revitalization Program investments)
An interactive data dashboard reporting program metrics for the state Brownfields Revitalization Fund (BRF) is available on our website.
New: VTP Interactive Dashboard
An interactive data dashboard reporting program metrics for the Vermont Training Program (VTP) demonstrates how the skills of nearly 15,000 Vermont workers have been enhanced. Notably, the 2024 wage change for VTP recipients is 11.44% (compared to 3.9% statewide).
Elevating the World of Lutherie
Vermont Violins is using the Vermont STEP program to drive remarkable growth while revolutionizing an industry rooted in tradition. The South Burlington company used $15,000 in grants to participate in a trade show in Italy and advertise in Strad Magazine.
How Economic Development Could Make Vermont More Affordable
Commissioner Goldstein was recently featured in the Education and Enrichment for Everyone lecture series. The presentation, “Achieving Affordability: How Economic Development Could Make Vermont More Affordable,” is available to watch online.
Manufacturing Summit
Center: Tim Tierney, Director of Business Recruitment and International Trade. Right: (Far left) Joanne Spaulding, Director of Vermont APEX Accelerator. [Images: Vermont Chamber of Commerce]
With the theme of “Resilience by Design,” this year’s Manufacturing Summit brought together experts to discuss strategies for building resilient supply chains, leveraging technology for greater adaptability, and navigating an evolving regulatory landscape. The Vermont Chamber of Commerce event features a cyber security panel that featured Vermont APEX Accelerator.
VOBA Conference
[Images: Katie Palatucci/VOBA]
The 6th annual Vermont Outdoor Business Alliance (VOBA) summit took place in Woodstock, bringing together industry colleagues for networking, education, and business development centered on climate resilience, equity, innovation and sustainability, and career pathways.
DED Commissioner Honored at CSG National Conference
Commissioner Goldstein at center (sixth from left). [Image: The Council of Sate Governments]
A ceremony at the CSG National Conference in New Orleans recognized the 2024 Council of State Governments (CSG) Henry Toll Fellowship class, which includes Commissioner Joan Goldstein. The Commissioner is one of 48 public servants from across the country who completed the program this year.
Vermont Rising Stars
Left: Commissioner Goldstein. Right: (Left to right) John Boutin of VermontBiz, VEPC Program Manager Ellie Beckett, Commissioner Goldstein. [Images: Jeremy Baldwin Photography]
Commissioner Goldstein presented this year’s Rising Stars awards at the annual VermontBiz event. The 15th annual class of recognized leaders comprises 40 winners under 40. Including the Department of Economic Development’s very own Ellie Beckett, who is the Program Manager for the Vermont Economic Progress Council, which is the authorization body for the Vermont Employment Growth Incentive program and the Tax Increment Financing program.
Vermont Saves
In 2025, employers with five or more employees and no retirement plan must register for Vermont Saves. This new program auto-enrolls employees in a Roth IRA, offering flexibility and control over their contributions. This new free program will help businesses stay competitive by attracting and retaining talent.
Trade Show Assistance Grants
Is your agriculture, food, or forestry business looking to expand into new markets? The Trade Show Assistance Grant from the Vermont Agency of Agriculture can help! These matching grants provide funding to help businesses exhibit at out-of-state and international trade shows to connect with wholesale buyers. The application period for this grant closes on January 20, 2025.
VCDA 2025 Winter Conference
Need help finding funding for your community development project? Register today for the Vermont Community Development Association (VCDA) 2025 Winter Conference on January 15 in St. Albans.
Brownfields Revitalization Fund (BRF)
International Trade Assistance (STEP)
Vermont Employment Growth Incentive (VEGI)
Vermont Training Program (VTP)
Source: 12.16.2024. Vermont Department of Economic Development
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