The WCEDP promotes economic development in Windham County by providing funds to stimulate job creation through business start-up, expansion, or relocation, encourage entrepreneurial activity, and strengthen the economic development infrastructure to ensure a strong foundation for transformational economic activity. The primary focus of the program is private sector job creation and retention, and direct support of entrepreneurial activities, and alignment within the Southern Vermont Comprehensive Economic Development Strategy (CEDS).
Financing Services through the program:
The Windham County Economic Development Program (WCEDP) was established in 2014 through legislative creation of the Windham County Economic Development Special Fund (32 V.S.A. chapter 7, subchapter 5) for management of funds received pursuant to the December 13, 2013, settlement between Vermont and Entergy. The program included loans administered by VEDA and grant through the Agency of Commerce and Community Development (ACCD) with regional recommendations provided by the WCEDP Advisory Council, a regionally representative council supporting the BDCC’s oversight of the program. Funding decisions have been tied to the regional Comprehensive Economic Development Strategy (CEDS).
The administration of WCEDP funds began at ACCD in 2014, however Windham County officials and Governor Shumlin agreed that the program should be reestablished in Windham County after 2020 once the capacity was developed to manage a revolving loan program. BDCC, on behalf of the region, worked with ACCD and VEDA on the transition since 2020, and with the legislature in the 2022 session finalizing the transfer, the WCEDP program and all funding related to the program transferred to BDCC effective June 30, 2022. A timeline of events is available below and updated reports available upon request.
The original funding for WCEDP programs included $100,000 designated for Business Plan Competitions. To date, three competitions have been held. The third competition concluded in early October 2023. Since then, additional business plan competitions have been ideated and implemented throughout the region, including in the Deerfield Valley and Dover, with support from BDCC. As we enter 2025, BDCC will be evaluating the format, functionality, and goals of a renewed regional competition to build on momentum and continually ensure alignment with the needs of our local economy.
At the end of 2024, BDCC wrapped up its EDA funded Build to scale investment; leveraged funding that has been used to explore the viability of developing a rural investment fund using WCEDP as a jumping off point for success. Launched in 2025, the Windham Investment Fund provides alternative financing options, including equity investments, revenue-based sharing models, and other tools that may fall outside traditional lending/equity products. Unlike other funds in the BDCC financing portfolio, the Windham Investment Fund offers applicants the opportunity to support businesses at various stages of growth. Support options may include royalty financing, interest-only loans, equity investments, or preferred equity arrangements, providing benefits beyond what a revolving loan fund can offer.
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For more information or help with getting set up for success, please reach out to Dani Delaini.
