BRATTLEBORO, VT – The federal government has awarded $440,000 to the Town of Brattleboro for critical water and wastewater infrastructure improvements needed to support commercial development. On July 29th the U.S. Department of Commerce Economic Development Administration (EDA) announced funding for the project, to be located within Brattleboro’s designated Opportunity Zone. Federal dollars will be matched with $320,000 in local funds. This investment will create system-wide improvements and help growing employers in the Exit One Industrial Park.
Brattleboro Development Credit Corporation (BDCC) has provided pre-development and application assistance to the Town of Brattleboro and will assist with project management. While originally linked with development of a new dairy startup which did not ultimately take off in 2019, the need for these water and sewer improvements pre-date that effort: The Exit One infrastructure project was first named a Vital Project of the Windham Comprehensive Development Strategies (CEDS) back in 2013. Brattleboro was able to make the case for federal assistance based on current and planned economic activity, the new Opportunity Zone designation, and the project being a CEDS priority.
Vermont has 25 Opportunity Zones, census tracts which have been designated based on population-based needs. Within an Opportunity Zone, private investment made to qualifying projects and businesses benefit from reduced capital gains liability. Brattleboro and Rockingham both contain an Opportunity Zone and seek to leverage this special program to attract investors for whom capital gains advantages make up for low investment returns when investing in distressed communities.
Governor Scott highlighted the project and partnerships in a recent statement, “Congratulations to the Town of Brattleboro on its recent award from the EDA