REDC promotes programs designed to stimulate economic activity by granting incentives to companies that would be unable to grow without them. Two of those programs are the Vermont Employment Growth Incentive and the Vermont Training Program.
The Vermont Employment Growth Incentive Program is a state program designed for business recruitment and business expansion. It provides a cash payment based on new job and payroll creation to companies that have been pre-approved for the incentive. Approval occurs through application to the Vermont Economic Progress Council. The incentive amount is based on the economic and fiscal impact of qualifying new jobs and payroll created and capital investments made by the applicant for a period of up to five years. For more information call REDC at (802) 773-9147 or visit the VEPC website.
The Vermont Training Program promotes expansion and encourages the creation and retention of jobs in manufacturing, IT, healthcare, telecommunications and environment by providing training grants for new and existing businesses, thereby increasing the skills of the Vermont workforce, the wages and Vermonters’ standard of living. Training can be new employment, upgrade or crossover training for incumbent workers. For more information call REDC at (802) 773-9147 or the Vermont Department of Economic Development at (802) 828-3080.