Business Grant Program may be Re-Tooled to Better Meet Need

Preliminary discussions in committees on the $30 million Bridge Grant program highlighted the low participation rate with only $3.6 million allocated. The early consensus is that program amendments are needed with the Department of Economic Development asking for greater discretion to determine need beyond just a net loss year over year. The remaining need continues to focus on the hospitality, performing arts and agriculture industries. With nearly $25 million remaining in this program and the Governor’s previous interest in reserving another $25 million for business grants, this will be a priority for the Vermont Chamber. We will work toward an amendment that makes this program less restrictive and easier to access in a timely manner.

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