Rural Industry Development Program
The Rural Industry Development Program funds nonprofit-led projects to create or repurpose industrial and federally impacted properties in rural Vermont, advancing economic growth through site development and innovation.
Funder: Vermont Agency of Commerce and Community Development
Due Dates: Rolling (until funds are allocated)
Funding Amounts: Up to $1,000,000 or 50% of total project cost per project; up to $2,000,000 for federally impacted properties; 3-year period of performance.
Summary: Supports Vermont-based nonprofit development corporations in creating or repurposing industrial and federally impacted properties for business relocation and expansion in rural Vermont.
Key Information: Applications are accepted on a rolling basis; awards are reimbursement-based and require cost share for most projects.
Description
The Rural Industry Development Program (RIDP) provides grant funding to address the shortage of industrial space and repurpose federally impacted properties across rural Vermont. Administered by the Vermont Agency of Commerce and Community Development, the program funds local nonprofit development corporations to support business relocation and expansion, including the purchase, demolition, construction, or renovation of properties for industrial use. For federally impacted properties, residential development is also eligible. The program aims to reduce permitting and construction delays, fostering economic growth and revitalization in Vermont's rural communities.
