What BDCC is Doing

Following Vermont’s Emergency Declaration by Governor Phil Scott, the BDCC Board of Trustees, SeVEDS Board of Directors and BDCC’s entire team has pivoted to respond to the effects of COVID-19 on our region’s economy.

Because we do not yet know the scope and duration of the economic obstacles that lie ahead, we have begun an initial phase of communication, connection, and triage. As of March 15th, we have been actively engaged in sharing what we do know to our tenants, the region’s businesses and our community and economic development partners and municipalities.

With disruption across every state and every town in our country, we know that our ability to provide the most assistance for our tenants, regional businesses, workers and economy will depend on two things: how well we connect with other regional community economic and community development focused organizations and how effectively we deploy our staff to begin connecting  one-on-one with tenant and regional businesses who seek help. The current objective is to help and support our businesses as they assess their current financial situation. After this analysis is completed, business owners can begin to make informed decisions about the best resources to pursue to help keep them solvent until the economic conditions are better understood.

To the left are a number of tabs outlining current resources we have identified and actions you can take right now. 

Stay in touch and check back frequently. We are going to evolve as this situation evolves and as state and federal responses evolve. It will be through these direct partnerships that we will have an accurate understanding of our region’s economic needs, and it will be through these partnerships that we find ourselves positioned to respond with additional program development and financial assistance programs in the days ahead.

Do not hesitate to contact us with questions and concerns as we all work to help our region navigate this.

 

Statement on Organizational Transparency and Accountability


From the Agency of Commerce and Community Development

Refer to ACCD’s COVID Pages as they are being constantly updated with resources on a variety of topics.

Regarding essential businesses, you can review the NAICS code reference sheet HERE.  This document includes clear “yes” or “no” indicators next to each NAICS code determining whether a business may continue in-person business.

UPDATED – 4/1/20

To stay informed when new information becomes available, please sign-up for ACCD’s COVID-19 Economic and Community Response Newsletter.

If your business is facing an immediate public health threat due to coronovirus, contact the Department of Health at: healthvermont.gov/COVID-19.


April 1, 2020

New Recovery Resource Center

The Agency of Commerce and Community Development has created a new Recovery Resource Center to better organize the news and information on COVID-19 response being released each day. The Recovery Resource Center includes tools and programs for individuals, businesses, and communities to assist in recovery and FAQs on how to access those resources in real time.

 

Unemployment Insurance Town Hall

The Vermont Department of Labor has announced that it will hold the first in a series of Virtual Town Hall events on Thursday, April 2 at 2:00pm. This first event will focus on services for employers, focusing on issues around Unemployment Insurance, among other labor-related topics.  For more information visit the Department of Labor Website.

 

SBA Loans and Cash Advance

ACCD is encouraging small business owners to consider applying for an Economic Injury Disaster Loan. By applying for a loan, a business harmed by COVID-19 may be eligible for a grant that provides an emergency advance of up to $10,000 within three days of a successful application. This resource is available to businesses now, and you can access it by reaching out directly to the SBA and filling out an application on their website or by reaching out to your Regional Development Corporation, or the Vermont Small Business Development Center.

 

Recovery Funding Public Hearing

The Vermont Department of Housing and Community Development will host a virtual public hearing on April 13, 2020 from 3:00pm – 4:00pm to gather comments on the COVID-19 recovery needs of communities, and how federal Community Development Block Grants may help respond to those needs. The federal CARES Act includes $5 billion in funding for these grants and Vermont’s share will result in more than $4.7 million to assist communities across the state recover from COVID-19. Please register here to participate in the virtual Public Hearing.

 

New Volunteer Resource

Governor Phil Scott is calling on able Vermonters to sign-up to volunteer and support the state’s COVID-19 response. Vermont is looking for volunteers to help in communities across the state and help is needed in a variety of areas and professions. Please register here: https://www.vermont.gov/volunteer

Business Impact

We are still interested in hearing from all Vermont businesses impacted by the response to the COVID-19 virus. Please continue to share these impacts via the Agency Business Impact Form, which will help us assess the full impact as we work toward solutions.

 

PREVIOUS NEWSLETTER UPDATES