Longstanding partnership between two organizations continues to support economic growth in Windham County
Brattleboro, VT – Brattleboro Development Credit Corporation (BDCC) welcomed representatives from the Vermont Economic Development Authority (VEDA) to BDCC’s Cotton Mill offices on September 25th for a VEDA Board of Directors meeting.
The day provided an opportunity to celebrate decades of partnership between these two organizations – VEDA as the statewide economic development finance lender, working alongside BDCC as the local partner serving southeastern Vermont. In the 1980s, VEDA first helped to finance BDCC investment in the Cotton Mill. The results of that partnership are visible throughout the campus today, which now houses more than 35 tenant businesses across 300,000 square feet, supporting more than 220 jobs. VEDA Board members toured the Cotton Mill facility to see firsthand how VEDA investment has directly impacted local entrepreneurs and employers, and the regional economy.
“When opportunities emerge quickly in our region, whether a business is looking to expand, relocate, or pursue a project that requires creative financing, VEDA’s partnership and nimble approach have enabled BDCC to respond quickly and help turn those opportunities into economic growth. Their flexibility and commitment have allowed us to support businesses across Southern Vermont in ways that simply would not have been possible otherwise. Our region is stronger because of this partnership,” says BDCC Executive Director Adam Grinold.
VEDA financing has helped BDCC to acquire, retrofit and expand its Cotton Mill and Business Park over the years, serving one tenant at a time. BDCC and VEDA have also partnered to create funding solutions for local businesses and non-profits, like Sidehill Farm, Swiss Precision, WheelPad and NECCA.
The visit included a stop at Swiss Precision, founded in 1990 by Willy Buhlmann and a BDCC tenant in the Cotton Mill for more than three decades. The company manufactures precision-machined components for medical, aerospace, optical, and geotechnical customers. Upon Buhlmann’s retirement, ownership transferred to Geokon; Swiss Precision’s largest customer and an employee-owned (ESOP) company. Today, Swiss Precision continues to grow in the Cotton Mill under employee ownership, providing another example of how BDCC’s business parks help keep strong companies and quality manufacturing jobs in Southern Vermont.
“Working with BDCC is always a pleasure,” says VEDA CEO Joan Goldstein. “Adam and his talented team move quickly to act on opportunities in the region, and it shows. VEDA’s mission is to support economic development throughout Vermont and BDCC is an excellent partner in that endeavor.”
As both organizations look to the future, they affirm a shared commitment to supporting local businesses, expanding economic opportunity, and investing in the long-term vitality of the region. Both organizations look forward to continuing to invest alongside one another in the companies and communities that call Southern Vermont home.
About BDCC
Brattleboro Development Credit Corporation (BDCC) is a private, nonprofit economic development organization with the mission of investing in the drivers of the regional economy so that people, businesses, and communities in Southern Vermont can thrive. In addition to its private nonprofit leadership role in regional business acceleration and expansion programs and projects, economic, workforce, and community development programming, BDCC is also contracted to carry out the work of one of the twelve the State of Vermont’s certified Regional Development Corporations (RDC) for the greater Windham County area (including Windham County and the towns of Readsboro, Searsburg, Winhall, and Weston). BDCC’s activity is made possible in part by a grant from the State of Vermont through the Agency of Commerce and Community Development. For more information, visit: https://brattleborodevelopment.com/
About VEDA
The Vermont Economic Development Authority (VEDA) is the statewide economic development finance organization. An instrumentality of the State of Vermont created by the General Assembly in 1974, VEDA’s mission is to contribute to Vermont’s economic vitality by providing a broad array of financing programs to farms, forestry enterprises, businesses, and nonprofit organizations that create jobs and help advance Vermont’s public policy goals. For more information about VEDA, visit www.veda.org or call 802-828-JOBS (5627).
