Vermont

Vermont provides a range of programs to support business growth, job creation, and workforce development. Programs like the Vermont Employment Growth Incentive (VEGI) and Vermont Training Program (VTP) offer incentives and funding to help businesses expand and enhance their workforce skills.

Vermont Employment Growth Incentive (VEGI)

• Purpose: Encourages business recruitment, growth, and expansion in Vermont.
• Eligibility: Businesses creating new, full-time jobs in Vermont that meet wage thresholds.
• Benefit: Cash payments based on the revenue return generated to the state by qualifying jobs and investments.
• Application: Through the Vermont Economic Progress Council.
• More info: This is a performance-based incentive, with payments made only after job creation and capital investments are verified.

Vermont Training Program (VTP)

• Purpose: Provides training for new and existing employees to enhance workforce skills.
• Eligibility: Vermont businesses in targeted sectors that are creating new jobs or training existing employees.
• Benefit: Grants of up to 50% of training costs for pre-approved training programs.
• Application: Through the Vermont Department of Economic Development.
• More info: Focuses on manufacturing, healthcare, and other specialized sectors.

Vermont Small Business Development Center (VtSBDC)

• Purpose: Provides free business consulting and low-cost training services.
• Eligibility: Small businesses and entrepreneurs in Vermont.
• Benefit: Access to business advisors, training programs, and resources.
• Application: Through local VtSBDC offices.
• More info: Offers assistance with business planning, accessing capital, and operational improvements.

Vermont Economic Development Authority (VEDA) Loan Programs

• Purpose: Provides various loan programs to support business growth and job creation.
• Eligibility: Vermont businesses meeting specific criteria for each loan program.
• Benefit: Low-interest loans for a variety of business purposes, including equipment purchases and working capital.
• Application: Through VEDA.
• More info: Offers multiple loan programs tailored to different business needs and sectors.

Vermont Workforce Innovation and Opportunity Act (WIOA) Programs

• Purpose: Provides funding for workforce development initiatives.
• Eligibility: Varies by specific program, including services for adults, dislocated workers, and youth.
• Benefit: Access to training programs, career services, and potential funding for eligible individuals.
• Application: Through local workforce development boards or the Vermont Department of Labor.
• More info: Aims to improve the quality of the workforce and reduce welfare dependency.