First Round of Rural Industry Development Grants Increases Vermont’s Manufacturing Capacity, Creates and Retains Jobs

FOR IMMEDIATE RELEASE
October 31, 2024

First Round of Rural Industry Development Grants Increases Vermont's Manufacturing Capacity, Creates and Retains Jobs
Applications for second round due January 8, 2025

Montpelier, Vt. - Governor Scott and the Department of Economic Development are announcing the recipients of the first round of Rural Industry Development Program (RIDP) grants. These projects in Brattleboro, Wilmington, Clarendon, and Colchester will share $2.3M in funding to develop move-in ready sites for new employers and help existing businesses expand.
"Making it easier to do business in Vermont has been a priority for my Administration," said Governor Scott. "Manufacturing is important to our economy, so having sites employers can immediately move into will help revitalize communities across the state."

Investing in manufacturing capacity is investing in Vermont. The sector represents 9% of Vermont's Gross State Product and employs 28,200 Vermonters. This first round of RIDP funding will help retain 235 of those jobs and create 135 more.

RIDP provides grant funding to regional and local development corporations located in areas that can accommodate business growth. RIDP grants can be used to purchase, demolish, build, or renovate a property for industrial use.

Here is a look at the four projects in the first round of RIDP grants:

Brattleboro Development Credit Corporation (BDCC) - Brattleboro
A $1M RIDP grant allows BDCC to purchase a 7-acre parcel in Brattleboro that will retain one current employer while developing the other part of the parcel to be used by a future employer. This project is expected to retain more than 100 jobs in Vermont and create the opportunity to attract additional manufacturing capacity in Brattleboro. The total price tag is $5.1M.

Brattleboro Development Credit Corporation (BDCC) - Wilmington
A $220,200 RIDP grant enables BDCC to purchase a 3.4-acre site in Wilmington that sat vacant for 15 years, allowing WheelPad to expand by combining its production capabilities and warehouse at one location. WheelPad will focus on making capital improvements to the property and intends to buy it from BDCC within seven years. The total project price tag is $1.1M.

Chamber & Economic Development of the Rutland Region (CEDRR) - Clarendon
A $157,555 grant allows CEDRR to design, permit and construct an extension of the water and fire suppression systems currently serving the Rutland Airport Business Park on Route 7B. The project is expected to enable four manufacturers to grow and create approximately 100 high-quality manufacturing jobs. The total price tag is $779,301.

Greater Burlington Industrial Corporation (GBIC) - Colchester
A $1M RIDP grant will be used to facilitate the expansion of a manufacturing facility in the Ethan Allen Industrial Park in Colchester, retaining 135 jobs and creating 35 more. Improvements include infrastructure, parking, storm water treatment, site preparation, and development. The total project price tag is $21M.

"Ready industrial sites are an integral element of our economic development strategy," said Commissioner Joan Goldstein of the Department of Economic Development. "These first four sites will provide employers with adequate facilities for their growth. This program gives Vermont an important tool, via the partnership with the Regional Development Corporations, for attracting new employers and assisting the expansion and growth for the businesses that are already located here."

In 2023, the legislature created the Rural Industry Development Program as part of Act 78 and allocated $5M to the program. Applications for the second round of RIDP grants are due January 8, 2025.

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