Rural Industry Development Program
The RIDP funds Vermont nonprofits to develop or repurpose industrial and federally impacted properties, supporting business expansion, relocation, and economic growth through property and infrastructure improvements.
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 (up to $2,000,000 for federally impacted properties); 3-year award period.
Summary: Supports Vermont-based nonprofit development corporations in creating or repurposing industrial and federally impacted properties for business expansion and relocation.
Key Information: Only Vermont-based regional/local nonprofit economic development corporations are eligible.
Description
The Rural Industry Development Program (RIDP) provides grant funding to Vermont-based regional and local nonprofit economic development corporations. The program aims to address the shortage of available industrial space and to repurpose federally impacted properties in Vermont, thereby supporting business relocation and expansion. Eligible projects include purchasing, demolishing, building, or renovating property for industrial use, and for residential use in the case of federally impacted properties. The program also supports site development, infrastructure improvements, and other activities necessary for future industrial or commercial growth. The intent is to ensure that suitable spaces are ready for business needs and to leverage additional funding sources for maximum impact.
