BDCC’s capacity to implement complex projects, alongside the regional economic planning capacity built by SeVEDS creates a powerful mix. This “special sauce” is why each dollar invested in BDCC- SeVEDS is leveraged many times over.
Our specialty services go beyond real estate and infrastructure projects. We now manage millions in grants, along with critical programs like CDBG, tax incentives, and lending. This organization’s capacity surpasses even that of most statewide organizations. We help small municipalities, businesses and non-profits get critical and complex projects done, especially projects that require specialized financial tools when cost to build exceeds final value.
All the work we do is ultimately about collaboration. The success of individual businesses, people or towns is tied to regional outcomes. We develop the region’s long term strategic plan and annual strategic priorities. We use data to make the case for collaboration, to develop networks and programs that impact every community: Using economic data we secured investment to build the Ecovation Hub. Using economic data and the Hiring Needs Study, we successfully advocated for regional action to fund and run the Workforce Center of Excellence. Research like the Accelerator Study engages private and public sector partners to create a shared sense of urgency, ownership of these plans, and a commitment to regional action.
Acting regionally is incredibly difficult in rural Vermont. It requires giving up autonomy, and acknowledging that a neighbor or competitor faces the same challenges. One measure of success is the growing support we’ve received through municipal funding efforts: Since 2012, we have reached out to Selectboards and voters. This year $70,881 in program funding for Southeastern Vermont Economic Development Strategies came directly from towns – Rockingham, Brattleboro, Putney, Dover, Newfane, Wilmington, Guilford and Marlboro.
- We received National Recognition for Implementation of the 2014 Windham S.M.A.R.T CEDS – the 2016 Award for Excellence in Economic Development from the International Economic Development Council.
- The Ecovation Hub reached final Milestone 4 and an independent Leadership Team is taking the Hub forward. In July a formal MOU was signed to create a Knowledge Consortium Higher Education Partnership between SIT, Keene State, Antioch and GCC.
- As Project Owner of two New Market Tax Credit (NMTC) deals (see first section) we deployed new financial and project management capacity on behalf of the region.
- We partnered with the Bellows Falls Development Corporation (BFADC) on their Robertson Paper Mill project which received WCEDP funds and a $200,000 EPA grant for environmental cleanup. We provide grant and project management.
As part of the regional Ecovation Hub Leadership Team, BDCC-SeVEDS is launching more green economy initiatives in the coming year and linking this work with the statewide Climate Economy effort. Work continues with BFADC on the Robertson Paper Mill project and helping Bellows Falls redevelop the Island Project.
To be a nationally recognized leader in rural regional economic development, with the tools to build the best projects and programs and the research to lead with strategy and insight.
This spring the Bennington Regional Economic Development (RED) board and SeVEDS approved moving forward with a Region-wide strategic plan. This Southern Vermont CEDS will encompass both counties and Weston. SoVermont partners have been preparing for this since the formation by the VT Legislature of the Southern Vermont Economic Zone in 2015. Pending funding from the U.S. Economic Development Administration, the SoVermont CEDS update begins this winter with extensive public outreach in 2018 and 2019.