Overview:

The traditional Regional Development Corporations functions we conduct are as important today as ever. We do business visits that connect employers with local, state and federal financing and incentive programs. Business counselors take entrepreneurs from planning and projections, through marketing and financial strategy. We connect local organizations with training or energy efficiency programs, and with one another because our economy relies on partnerships. We help with facility expansions, and offer low-cost, quality commercial and industrial space to 75 organizations that employ 350 people.

In order to better serve the needs of the region’s new and growing firms, BDCC has become highly effective in bringing state and federal resources to retention and expansion projects and linking businesses with a full complement of local, state and federal programs from NMTC, PTAC, VtSBDC, VEDA and VEGI. Having built the capacity to bring complex financial and development services from concept through construction and operation, we now bridge a critical gap in the region’s financing capabilities. In 2015 & 2016 BDCC has facilitated over $8 Million in Federal, State, Regional and Local funding to help project companies leverage over $55 mm in private equity and leveraged funds.

Funding for this work comes from the state, and revenue from projects and real estate.

Milestones:

We managed two major expansion projects this year. Exit One Industrial Park Expansion for G.S. Precision, Inc., a local family owned precision machining facility which employs over 550 people, 368 in its Brattleboro facility. This project worth over $17M is adding 100 jobs over the next 5 years (42 FTE so far). The other, an expansion of Chroma Technology Corp., is a project in excess of $22M adding 25 jobs to this employee-owned local firm.

Working on: Marketing the region, its assets, and our services to attract new businesses and people, and to keep the ones we have; Leveraging the state’s new ThinkVermont web site and our growing So Vermont Economic Development network; Funding the SoVermont Sustainable Marketing and Recruitment Program; Continuing to improve access to investment capital.

The Goal:

Comprehensive business support.

Next up:

More projects, and more funding for businesses

  • Expansion: Commonwealth Dairy, a fast-growing local value-added food producer, has chosen to locate its corporate headquarters here.
  • Startup: A major local entrepreneur is working with us to launch a brand new venture here.
  • Helping Communities: We want to leverage the project and financial capacity we’ve developed to help more communities with projects.
  • Investment: A new USDA RMAP revolving loan fund rolls out to businesses by the end of 2017, along with free Technical Assistance.