From the Governor
“Homegrown businesses and entrepreneurs are the engine of Vermont’s economy, creating jobs and helping create more opportunity for Vermonters.” —Gov. Phil Scott
Entrepreneurship and Innovation
As one of the smallest states by population, Vermont doesn’t see many eight-figure locations or expansion. But what it lacks in big projects, it makes up for with a culture of entrepreneurship and innovation. The Green Mountain State has seen strong growth in the brewing and distilling industry in recent years, and it remains home to a few large companies, including Dealer.com and Keurig. Vermont’s attractive insurance regulatory system also makes it the top state in the nation for captive insurance domiciles.
Vermont Employment Growth Incentive: Offers cash payments to companies that meet milestones for job creation, payroll and capital investments. Enhancements available for green businesses and those that create jobs in specific labor markets.
Vermont Training Program: Offers grants to cover up to half the cost of training for new hires and incumbent workers.
R&D Credit: Offers a state tax credit of up to 27% of the federal tax credit for research and development expenses.
Vermont Brownfield Revitalization Fund: Offers loans and grants to private developers, nonprofits and municipalities for the remediation of brownfield sites
Vermont Agency of Commerce and Community Development: accd.vermont.gov/economic-development
Think Vermont: thinkvermont.com
Montpelier Development Corp.: mdc-vermont.com
Burlington Community & Economic Development Office: burlingtonvt.gov/CEDO
Highlighted Program or Initiative
The Vermont Talent Pipeline Management (VTPM) is an employer-led systems model that aims to grow the economy by improving the employability of students and aligning education with employer needs. VTPM’s initiatives focus on the most critical jobs to be filled in the construction, healthcare and advanced manufacturing industries.
- LEDdynamics broke ground in June 2018 on a 27,600-square-foot facility and announced it will double its workforce in the state.
- Mack Molding announced in July 2018 an expansion of its three Vermont locations and expects to hire 50 more employees in the next year.
- Caledonia Spirits broke ground in August 2018 on a 26,000-square-foot distillery in Montpelier.
- GW Plastics completed an expansion and upgrade in the summer of 2018 of its Process Development and Training Center in Royalton. The Vermont-based company continues to grow and expand in the U.S. and abroad.
Keurig Green Mountain
“Montpelier has made it clear that they have a vision for the Capital City, and we’re thrilled to be a part of it…. Our search for expansion space had us in contact with many towns, but Montpelier proved to be the greatest opportunity for our business.” —Ryan Christiansen, President, Caledonia Spirits