Commissioner Goldstein (left), Governor Phil Scott, and Deputy Commissioner Brett Long (far right) meet with Glavel in Essex Junction.
Vermont Department of Economic Development
November 2024
MESSAGE FROM COMMISSIONER GOLDSTEIN
It’s been a busy month for the Department of Economic Development, with travels near and far to strengthen partnerships and explore new opportunities for Vermont. From building international connections in Austria and Quebec to addressing ongoing workforce needs and infrastructure opportunities in Vermont, our team is working hard to bolster economic activity throughout the state.
The accolades continue for Captive Insurance! Vermont has once again been awarded Domicile of the Year by Captive International. This comes on the heels of August’s successful Vermont Captive Insurance Association annual conference, the largest multiday conference in Vermont. The event welcomed over 1000 captive professionals from 44 states and 11 countries/territories.
As always, please reach out if our team can be of assistance.
Sincerely,
Joan Goldstein
Commissioner, Department of Economic Development
[email protected]
Delegation Travels to Austria
Left: Secretary Lindsay Kurrle (second from left) and Director of International Trade Tim Tierney (far right) at Anton Paar. Center: Tim Tierney and Secretary Kurrle (second and third from left, respectively). Right: Tour of Knapp.
A Vermont delegation, including ACCD Secretary Lindsay Kurrle and DED’s Director of International Trade Tim Tierney, has returned from a successful trip to Austria after building relationships in a region that shares many similarities with Vermont. The DED team looks forward to continuing to connect with compatible businesses and exploring bilateral trade growth opportunities.
Within the State of Styria, the ACCD team was shown the effective apprenticeship program in the City of Graz, the Styrian Parliament, the Chamber of Commerce, and a trade school highlighting the processes of their system. The team also visited several manufacturers who work with students and support the apprentice program. The trip was topped off by meeting with the Styrian State Department of Economic and Tourism Development.
VEPC Retreat: “All Things TIF”
The Vermont Economic Progress Council (VEPC) held a day-long retreat with over 50 municipalities, legislators, Council members, and Regional Development Corporations. Two nationally recognized experts, Toby Rittner, President and CEO of the Council of Development Finance Agencies, and Price Finley of Bricker Graydon, presented how TIF can be used as a powerful financial tool to revitalize and strengthen communities.
Chittenden County: "Capital for a Day"
Left: Meeting at Velan Valve. Center: (Left to right) Commissioner Joan Goldstein, Deputy Commissioner Brett Long, Governor Phil Scott tour Glavel. Right: Commissioner Joan Goldstein (front left), Deputy Commissioner Long (back, third from right), and other state employees at Bolton Valley Resort.
During the recent tour of Chittenden County, Department leaders joined Governor Scott and agency officials in conversations with communities and local businesses. Visits to Glavel, Velan Valve, and Bolton Valley Resort were focused on workforce needs, housing, and infrastructure improvements.
New: BRF Interactive Dashboard
An interactive data dashboard reporting program metrics for the state Brownfields Revitalization Fund (BRF) demonstrates how $19.2 million in state funding is leveraging over $380 million of redevelopment funding. The program is expected to yield 817 jobs and 699 new housing units across 71.45 acres.
RIDP Increases Manufacturing Capacity
The first round of Rural Industry Development Program (RIDP) grants was awarded to projects in Brattleboro, Wilmington, Clarendon, and Colchester. The total $2.3 million funding will aid the development of move-in ready sites for new employers and help existing businesses expand.
Strengthening Ties with Quebec
ACCD Secretary Lindsay Kurrle and DED Director of Business Recruitment Tim Tierney joined AmCham Quebec President Michel Belval at the Northeast Semiconductor Manufacturer Corridor event in Bromont, Quebec, at C2MI, a research facility located next to the IBM and Teledyne facilities. The event focused on creating an officially branded corridor with New York, Vermont, and Quebec in the Semiconductor cluster. The University of Vermont Research and Development office and Global Foundries were also in attendance.
Strong Brand Social Earns Inc. 5000 Honors
Strong Brand Social, a Shelburne-based marketing education and consulting firm, has grown 182% in the last three years, earning them a spot on the 2024 Inc. 5000 list for the first time. What began in 2017 as a social media agency has grown into a dynamic, forward-thinking company that has helped over 22,000 brands navigate the digital world with “industry-defying strategies.” Collectively, there were nine Vermont companies on the Inc. 5000 list that created 137 jobs.
Green Mountain Job and Retention Program
$5,000 of loan repayment is available for recent graduates who continue to live and work in Vermont. Applications are accepted on a first-come, first-served basis while funding lasts!
WLEI Business Enhancement Grants
The Vermont Working Lands Enterprise Initiative (WLEI) offers $10k-$50k grants, no match required, to support infrastructure, market, R&D, and workforce projects. The application portal is open now through December 12th, 2024. A recorded applicant webinar is available to assist in the application process.
Recreational Trails Program
Grants of up to $50,000 are available to Vermont communities to develop and restore public recreational trails through the Recreational Trails Program. Pre-applications are being accepted through December 6, 2024.
Land and Water Conservation Fund
Approximately $3.3 million is set to be awarded through Land & Water Conservation Fund grants to develop public outdoor recreation opportunities across Vermont. Pre-applications are being accepted through December 13, 2024.
Brownfields Revitalization Fund (BRF)
International Trade Assistance (STEP)
Vermont Employment Growth Incentive (VEGI)
Vermont Training Program (VTP)
Vermont Department of Economic Development
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