Rural Industry Development Program
The Rural Industry Development Program funds Vermont nonprofits to create or repurpose industrial space, supporting rural economic growth and business expansion.
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 project cost (standard); up to $2,000,000 for federally impacted property; 3-year award period.
Summary: Supports Vermont-based development corporations in creating or repurposing industrial space to foster rural economic growth.
Key Information: Only Vermont regional/local nonprofit economic development corporations are eligible; cost share required for most projects.
Description
The Rural Industry Development Program (RIDP) provides grant funding to Vermont-based regional and local nonprofit economic development corporations to address the shortage of industrial space and facilitate the repurposing of federally impacted properties. The program's goal is to enable business relocation and expansion by supporting the purchase, demolition, construction, or renovation of properties for industrial—and, in some cases, residential—use. By reducing risks associated with permitting and construction delays, RIDP aims to ensure that suitable industrial space is available and to promote economic growth in Vermont’s rural areas.
