Grant Boosts Businesses

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Created on Wednesday, 15 October 2014 20:40
Written by Ryan Rutledge

working landsNORTHEAST KINGDOM- The Vermont Working Lands Enterprise Initiative is going into its third year with a a small funding boost from the state.

 


Over the past couple of years, the initiative has had just a million dollars. However, this year it received a small boost up to $1.215 million to help fund more local agricultural and forestry companies.

The program, which began in 2012, aims to help fund local business enterprises that utilize Vermont's "working landscape".

According to the Working Lands website, approximately twenty percent of Vermont's land is used for agricultural purposes and seventy-five percent is used for forestry.

According to Matt Langlias of the Vermont Department of Forests, the program has been very popular since it began only 2 years ago.

"The first year we received a tremendous amount of applications, it was actually daunting reviewing them all," Langlais said, "The second year we found that fewer folks did apply; however, the applications that did come in were of much higher quality than the first year. This year we've received many inquiries, so, we're hopeful that some good businesses come forward and apply."

In order to apply for a grant, the person applying for it must choose from three separate categories for possible funding. They are either Working Lands enterprise investments, service providers, or capital and infrastructure investments. Each investment comes with a cap as well. If you are applying for the enterprise investment, you are elligible for a $3,000 to $20,000 grant. For the capital and infrastructure, you could be funded up to $75,000 and for the service provider grant you could be provided up to $150,000 if you meet the criteria presented.

In the last two years alone the initiative has invested in over 70 different programs throughout the state, with a number of them being in the North East Kingdom.

In a poll conducted by the initiative it showed that 97% of Vermonters value the working landscape the state provides, which played a big part in the Vermont state legislature creating this initiative.

"And its simply [the legislature] were hearing from constituents that they value the working landscape and want to see critical investments made to support it, to grow our working lands business, to support our farmers, to support our loggers, to support our woods product manufacturers. We have a great product here in vermont and we need to capitalize on that"Langlais said.

If you are looking to apply for investment yourself you can apply on their website at workinglands.vermont.gov.