VT Statewide Economic Development Agencies |
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VT Utilities |
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VT Regional Economic Development Agencies |
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VT County Economic Development Agencies |
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VT City Economic Development Agencies |
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Vermont State Incentives
The VERMONT EMPLOYMENT GROWTH INCENTIVE (VEGI) program can provide a cash payment, based on new job and payroll creation, to companies that have been authorized to earn the incentive. The incentive amount is based on the economic and fiscal impact of qualifying new jobs and payroll and capital investments made by the applicant for a period of up to five years. The resulting net revenue impact is used to calculate a percentage, which is then applied against the qualifying new payroll of the net new qualifying jobs, the product of which is the incentive amount for that year.
The VERMONT TRAINING PROGRAM (VTP) promotes expansion and encourages the creation and retention of jobs in Manufacturing, Information Technology, Healthcare, Telecommunication and Environmental Engineering by providing training funds for new and existing businesses thereby increasing the skills of the Vermont workforce, the wages and Vermonters’ standard of living. To be eligible, the company must guarantee that the training requested will supplement, rather than replace, the company’s ongoing, normal training efforts and agree to pay wages equal to at least twice minimum wage ($16.30) at completion of training, if no benefits are provided to the employee.
The DIRECT LOAN PROGRAM is eligible to manufacturing, processing, warehousing, research and development, travel and tourism, information technology, and others as defined in statute. Money can be used for the purchase of land, construction of buildings, purchase and installation of machinery and equipment.
TAX-EXEMPT REVENUE BONDS: Eligible to facilities deemed eligible by the IRS (primarily manufacturers) as 501(c)3 organizations. Bonds can be used for acquisition of land, buildings, and equipment or “exempt facilities” as defined in the federal tax code.
VERMONT JOB START PROGRAM: Applicants must meet income eligibility criteria. Funds may be used to purchase real estate, equipment, inventory or for working capital.
LOCAL DEVELOPMENT CORPORATION LOANS: This program provides financing to nonprofit local and regional development corporations to build facilities for lease to identified eligible tenants, or to plan and/or develop industrial parks. All nonprofit local and regional development corporations (LDCs and RDCs) are eligible for the program. Funding can be used for the purchase of land for industrial parks; industrial park planning and development; construction or improvement of speculative buildings; and small business incubator facilities.
