Economic development is traditionally defined as those efforts to attract and retain employers, help existing businesses expand, and provide public infrastructure, job training, education, and a favorable business climate. Economic Development Planning is different and must take place at the same time and consistent with the planning that TRORC does for all other aspects of community life, including transportation, housing and infrastructure (water and sewer) planning.
TRORC believes that much of our work provides the foundation for business development, retention and expansion. For example, the quality of life in our region is a major draw for businesses and can be sustained through proper planning. Infrastructure, especially transportation networks, is important to business. Our local and regional planning efforts help to make sure that these networks function well. And the redevelopment of Brownfields properties can provide jobs during the clean up and construction phases of the project, ultimately creating new business opportunities and revitalizing communities.
The prime agency for business development, retention and expansion in our region is the Green Mountain Economic Development Corporation (GMEDC). Their staff works closely with new and existing businesses to enable their growth and long-term viability. They are a resource for technical support, work force needs, funding and financing, permitting, site and building information and other key business needs. GMEDC provides financial information and packaging, Vermont Small Business Development Center (VtSBDC) technical assistance, land and building site inventories, and assistance in securing state and federal loans. VtSBDC works to strengthen existing business entities and assist start-ups with high-quality, no-cost counseling and affordable training programs.
The Department of Economic, Housing and Community Development (DEHCD) offers programs intended to further sustainable development in Vermont communities. The department houses the Vermont Community Development Program as well as programs to ensure preservation of Vermont's historic resources including downtowns and village centers. While Vermont has no state-wide economic development plan, DEHCD provides funding for some of these purposes to the Regional Planning Commissions and Regional Development Corporations ensuring that business support and locational decisions occur in areas consistent with state, regional and local land use law.
See the related links below.
BusinessUSA.gov, a Presidential initiative designed to help small business and exporters Discover opportunities, Connect with the right resources and Grow was recently re-launched. BusinessUSA is the first fully integrated federal website, reflecting a new level of collaboration among federal agencies and a stronger commitment to more streamlined and efficient customer service.
The new BusinessUSA is a simpler and more intuitive website for users. BusinessUSA offer visitors a direct path to programs and tools such as financing, exporting, starting and growing a business, veteran’s programs and disaster assistance.
Green Mountain Economic Development Corporation (GMEDC)
Vermont Small Business Development Center (VtSBDC)
US Economic Development Administration (EDA)
VT Dept. of Economic, Housing and Community Development