Rural Industry Development Program
The Rural Industry Development Program funds Vermont nonprofits to acquire, build, or renovate industrial spaces, supporting rural economic growth and redevelopment of federally impacted properties.
Funder: Vermont Agency of Commerce and Community Development
Due Dates: Rolling (applications accepted 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 acquiring, constructing, or renovating industrial or eligible residential space to promote rural business growth.
Key Information: Applicants must be Vermont-based regional/local nonprofit economic development corporations.
Description
The Rural Industry Development Program (RIDP) is a grant initiative from the Vermont Agency of Commerce and Community Development aimed at addressing the shortage of industrial space and repurposing federally impacted properties in Vermont’s rural communities. The program provides funding to eligible local development corporations for projects that facilitate business relocation, expansion, or the redevelopment of properties for industrial (and, in some cases, residential) use. The goal is to ensure that suitable spaces are available for immediate use, reducing permitting and construction delays and fostering economic vitality in rural Vermont.
