New tools to allow Vermont to recruit and retain, support technology companies

From Vermont Business Magazine:

Governor Peter Shumlin and legislative leaders today unveiled two proposals designed to attract, grow and retain high-tech companies that provide well-paying, skilled jobs for Vermonters.

The proposals, if approved in the economic development bills moving through the State House, would create flexibility for the state to respond to exigent circumstances with significant effect on jobs, and would support additional VEDA lending for tech start-ups with a bright future in Vermont.

The first proposal, the Vermont Enterprise Incentive Fund, would allow the governor to offer supplemental incentives to businesses, in a total amount not to exceed $4.5 million, in “unforeseen or extraordinary circumstances” that would affect the state’s ability to attract or retain companies with substantial statewide or regional employment impact. The proposal is designed to provide a measure of flexibility in the state’s response to competition and other outside factors that sometimes arise suddenly and require action greater than the state’s current economic development incentive programs allow. Legislative approval of any Governor-recommended incentives would be required through the Emergency Board.

For the full article please visit: http://vermontbiz.com/news/april/new-economic-development-tools-would-allow-vermont-recruit-and-retain-support-technology?utm_source=VBM+Mailing+List&utm_campaign=dcdfdc928d-Enews_4_14_2014&utm_medium=email&utm_term=0_85838110bc-dcdfdc928d-286301905.