Commissioner Goldstein (left, in black) meets with the Super Thin Saws team in Waterbury. [Photo: Shannon Alexander]
Vermont Department of Economic Development
October 2024
MESSAGE FROM COMMISSIONER JOAN GOLDSTEIN
The Business Emergency Gap Assistance Program (BEGAP) application portal remains open for properties damaged by 2024 flooding. Applications are being reviewed on a rolling basis and the deadline to apply is November 15, 2024. Technical assistance is available to anyone who needs it, including translations, and people are available to work directly with applicants to help them through the process. All of this information is available at accd.vermont.gov/BEGAP.
Additionally, the deadline for 2023 flood damage applications and supplemental funding inquiries has passed, and 2023 supplemental funding applications are now being sent out to eligible organizations via email. Supplemental applications are also due November 15, 2024.
As always, please reach out if our team can be of assistance.
Sincerely,
Joan Goldstein
Commissioner, Department of Economic Development
[email protected]
On The Road
Left: Commissioner Goldstein at Super Thin Saws. [Photo: Shannon Alexander] Center: (Left to right) Tran Thi Bich Van, Ambassador Dzung, Secretary Kurrle, Commissioner Goldstein. Right: (Left to right) John Young, Sam Kunin, and Nathan Davidson at Biz2Biz.
Commissioner Joan Goldstein and other economic development leaders were invited to visit Super Thin Saws in Waterbury for a flood mitigation discussion. With their operations located on the banks of the Winooski River, there is an impending need for solutions that will make the business more resilient. Owner John Schultz and his team described that trusted experts and engineers are needed to guide businesses like Super Thin Saws on what measures would be most effective to protect their facilities from future flooding events.
Commissioner Goldstein and Workforce Training Program Director John Young also had a meeting with Butternut Mountain Farm to hear their successes and challenges and toured their facility. These business visits are a crucial part of our work, and we encourage you to reach out if you would like us to come meet with you.
Earlier this month, the Vietnam Ambassador to the United States, Nguyen Dzung, visited Vermont with his wife Tran Thi Bich Van and several guests. Following visits with Global Foundries and Beta Technologies, they were treated to a tour of the Vermont State House and discussions of their growing tech sector and opportunities for collaboration.
The DED team also attended the Vermont Business Magazine Biz2Biz conference to share more about programs that can help your business and employees grow and thrive.
BRF Investments Aid Housing Creation
Left: Current Bennington project site. Right: Conceptual images of a completed project.
The Brownfields Revitalization Fund (BRF) – State Program is investing $1,594,500 to clean up two properties in Bennington and Northfield. Once completed, the projects are poised to bring 64 housing units online.
VEGI Brings Jobs to NEK
Weidmann Electrical Technology is expanding its St. Johnsbury operations with a new warehouse and renovations to existing facilities. The $44 million project is expected to create approximately 60 to 70 new jobs and is fueled in part by the Vermont Employment Growth Incentive.
Yellow Barn Transformation in Hardwick
Left: Yellow Barn pre-project. Center: Ribbon-cutting ceremony. Right: Completed Yellow Barn.
After several years of community partnership and robust funding efforts, the iconic gateway to the village is now officially open. The redevelopment efforts were fueled, in part, by significant funding from DED, including $1.2 million from the State Brownfields Revitalization Fund, $1 million from the Community Recovery and Revitalization Program, and $1.75 million of Northern Border Regional Commission funds.
DED Awarded 2024 STEP Funds
Vermont small business owners and entrepreneurs have access to $249,000 of funding to expand their international reach with State Trade Expansion Program (STEP) funds. These grants can cover costs associated with trade missions, website optimization, international marketing, and participation in trade shows.
VEGI Helps Cybersecurity Powerhouse
NuHarbor Security leveraged Vermont's Employment Growth Incentive (VEGI) program to expand its workforce and remain headquartered in Vermont, growing from a small startup to a leading cybersecurity firm with 185 employees, while helping to build a local cybersecurity talent pool.
Orleans County “Capital for a Day”
Left: (From left to right) Governor Phil Scott, Deputy Commissioner Brett Long, Ethan Allen Chairman, President and CEO Farooq Kathwari. Right: ACCD team at Blanchard Oil.
Governor Phil Scott and Cabinet members spent a day touring communities along the Canadian border to understand local successes and challenges. The Governor joined Commissioner Joan Goldstein and Deputy Commissioner Brett Long for a tour of Ethan Allen, an iconic furniture company that employs 300 people. Their Orleans plant, flooded in July 2023, received a BEGAP grant which helped them to reopen after a six-week shutdown. They also visited nearby Blanchard Oil, which also flooded and lost most of its tools and inventory. Owner Holly Fortin expressed concerns about the Clean Heat Standard, fearing it may harm low-income customers and seniors struggling with heating costs.
WLEI Grant Funding is Available
Working Lands Enterprise Initiative (WLEI) applications are open for the Service Provider & Producer Association Grant, which aims to provide business support services to Vermont agriculture, food, and forestry businesses, and to strengthen Vermont producer associations in these sectors. Applications are open until November 7, 2024.
Ellie Beckett Selected as 2024 Rising Star
Our very own Ellie Beckett is a 2024 VermontBiz Rising Star. Ellie is a Grant Programs Manager in the Department of Economic Development and someone who is deeply committed to Vermont. Please join us in wishing her congratulations!
October Deadline for SBA Loans
The U.S. Small Business Administration is offering assistance to businesses and nonprofits affected by the July 9-11 floods. The deadline for Physical Damage loans is October 21, 2024. For more information on which counties are eligible, visit accd.vermont.gov/flood.
October is Manufacturing Month
Celebrated annually on the first Friday in October, with events continuing throughout the month and beyond, MFG Day—Manufacturing Day—is a national grassroots movement that demonstrates the reality and future of modern manufacturing careers. Vermont companies and educational institutions are joining those across the country to open their doors to students, parents, educators and community leaders.
The Manufacturing Summit
Reimagined for 2024, this annual summit brings together industry leaders and manufacturing professionals to collaborate, share insights, and explore solutions to the sector’s most pressing challenges. Registration is inclusive of a networking reception on November 13, followed by a full-day of programming and networking opportunities on November 14.
NECBC’s U.S.-Canada Executive Energy Conference
Registration is open for the New England-Canada Business Council’s (NECBC) 32nd annual U.S.-Canada Executive Energy Conference which will take place November 20-21, 2024, at the Seaport Hotel in Boston. This preeminent annual event brings together Canadian and American senior executives, policy makers, regulators, and energy experts to provide their perspectives, share knowledge, and explore energy trade and cooperation.
VCET’s Female Founders Speaker Series
Vermont Center for Emerging Technologies' Female Founders Speaker Series is back on November 18! Entrepreneurs from Bivo, Skida, and Hootie Hoo Kids will tell their stories to inspire the business owners and female founders of tomorrow.
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Vermont Department of Economic Development
1 National Life Drive
Montpelier, VT 05620-5001