VDED: CHIP Progress, Program Success Stories, and More

Message From Acting Commissioner Tierney

Vermont Department of Economic Development Just like that, it’s suddenly fall. The small but mighty Department of Economic Development team is carrying the momentum of a busy summer into the new season, while already looking ahead to winter and opportunities on the horizon in 2026.

In particular, it’s been a marathon summer for the Vermont Economic Progress Council (VEPC) staff, who are working diligently to launch the Community and Housing Infrastructure Program (CHIP) early in the new year. A CHIP subcommittee has been meeting weekly to prepare program guidelines that VEPC will ultimately review and approve, and this work is anticipated to be completed later this fall. 

Meanwhile, strengthening relationships with our international partners, particularly our Canadian neighbors, remains a top priority. Promoting shared economic opportunity has always been central to the Department’s mission, but it now has new meaning and will continue to be a focus in the months ahead. 

I hope you’ll continue reading to see more of the great work our team is doing to strengthen the Vermont economy. 

Sincerely,  

Tim Tierney
Acting Commissioner and Director of Business Recruitment, International Trade 

Department News

On The Road

Secretary Kurrle, Tim Tierney, and others in Coaticook, Québec.

Coaticook, Québec: Secretary Lindsay Kurrle, Acting Commissioner and International Trade Director Tim Tierney, and other Vermont leaders met with Canadian Parliament members, regional associations, and provincial leaders. They explored opportunities to strengthen cross-border economic ties that benefit both regions. The visit concluded with a nighttime tour of the Foresta Lumina attraction. 

Here, There, and Everywhere: Vermont Training Program Director Randall Szott has been busy on the road, visiting manufacturers in Springfield, Chelsea, Rockingham, Rutland, and Burlington. With plans to be in Fairfax soon, that will be stops in six different counties in just the past few weeks. The business visits, many in partnership with the Department of Labor and Regional Development Corporations, are an opportunity to exploring new opportunities for growth and investment in Vermont. 

VEGI Success

Weidmann’s expansion project is underway.

For over 54 years, Weidmann Electrical Technology has helped power the world from right here in Vermont. Now, with support from a Vermont Employment Growth Incentive (VEGI) award, the business is investing $43 million in St. Johnsbury, creating 67 new jobs, and fueling local business growth. You can learn more about VEGI in this year’s annual report.

STEP Delivers Results

For every grant dollar awarded through the most recent round of State Trade Expansion Program (STEP) funding, $8.20 in export sales was realized. In total, this resulted in over $2 million in export sales generated by Vermont businesses.

Want to learn how STEP can help your business expand globally? Learn more on our website. 

Northern Border Regional Commission

Deputy Secretary Tayt Brooks, Director of Business Support Kristie Farnham, and Grant Programs Manager Elisabeth Nance, hosted Northern Border Regional Commission staff and their counterparts from Maine, New Hampshire, and New York to share Vermont’s economic development priorities and strategy for future investments. 

Windham County Capital for a Day

Left: Sonnax. Middle: Wheelpad. Right: Backroads Granola.

Governor Phil Scott’s “Capital for a Day” initiative headed to Windham County last month. A big thank you to Brattleboro Development Credit Corporation, Sonnax, Back Roads Granola, WheelPad, Prince Industries, Tri-Park Cooperative Housing Corporation, and Retreat Farm for having us! 

New Disaster Recovery Loan Fund

The Vermont Economic Development Authority’s (VEDA) Disaster Recovery Loan Fund will provide financial assistance to Vermont businesses, working lands enterprises, and not-for-profit organizations to recover from damage caused by declared disasters. The new $15 million fund is being capitalized with $13 million in VEDA assets and $2 million in residual Business Emergency Gap Assistance Program funds. 

Not Done Yet: More Work Ahead on Vermont’s Housing Crisis

“Despite the progress we’ve made together, our work to address Vermont’s housing crisis is far from being solved… Every day, I hear from businesses, large and small, that are still struggling to hire and retain their employees because of a lack of housing. As Vermonters, we’ve all been feeling the ramifications of this for years.”

Read more in Secretary Kurrle’s recent op-ed.

In the News

• Cross-Border Talks: Maintaining friendship with our neighbors to the north is more important now than ever, and the Department continues to find opportunities for collaboration with Canada.
• Meeting with Member of Canadian Parliament: A Vermont delegation was welcomed to Québec by Compton–Stanstead MP Marianne Dandurand. Stanstead Mayor Jody Stone and representatives from the Eastern Townships Tourism Association were also in attendance at the meeting. 

Opportunities

Women’s Recovery Residence Funding

Up to $250,000 in funding is available to establish a new Women’s Recovery Residence in the state. Funds will be awarded based on the criteria of the Vermont Recovery Housing Action Plan. This competitive grant and applications are being accepted now. Applications must be submitted no later than September 19, 2025. More information is available at the program website. 

VtSBDC Small Business Incubator

The Vermont Small Business Development Center (VtSBDC)  is hosting a free four-week workshop designed for aspiring entrepreneurs and early-stage business owners in the Northeast Kingdom. Starting on October 20, the program will assist with how to build a solid business plan, understanding your finances, choosing the right legal structure, and tapping into local resources. 

OUR PROGRAMS

Brownfields Revitalization Fund (BRF)

Captive Insurance

International Trade Assistance (STEP)

Tax Increment Financing (TIF)

Vermont APEX Accelerator

Vermont Employment Growth Incentive (VEGI)

Vermont Training Program (VTP)

Vermont Department of Economic Development