State-Funded BEGAP Program Announced to Aid Business Recovery

The Department of Economic Development has created the Business Emergency Gap Assistance Program (BEGAP) to assist impacted businesses with flood recovery. Funding for the $20 million program was formally approved by the Vermont Emergency Board, which unanimously voted for the reallocation of state funds. Applications are being approved on a rolling basis until all funds are expended.

The $20 million of funding was transferred from a $30 million total appropriation to the Public Service Department for the Vermont Community Broadband Board. The Governor is set to include a plan to replace these funds in his FY24 budget adjustment proposal.