Governor Phil Scott Announces Additional $3.5M in Approved Capital Investment Program Project Applications
Montpelier, Vt. – Governor Phil Scott and the Agency of Commerce and Community Development (ACCD) today announced the second wave of approved grant applications to support community recovery and revitalization through the Capital Investment Program (CIP). The program aims to strengthen communities by reversing the harm caused by the COVID-19 pandemic through assistance with capital investments that will help businesses to recover, retain existing jobs and spur economic growth.
This second round of 12 approved applicants, following a multi-step evaluation and approval process, grants $3.5 million to projects in six counties across multiple sectors including education, outdoor recreation, childcare, healthcare, arts and culture, and housing.
“My administration remains focused on increasing economic equity from region to region through our economic recovery and community revitalization efforts,” said Governor Scott. “I am grateful the legislature worked with us to secure additional investments to help businesses and organizations survive, grow, and strengthen our communities. I look forward to more projects like these coming online in the near future.”
“The projects represented in these approved applications will begin to reverse the harm on impacted industries while providing assistance to households and help strengthen and revitalize communities,” said Department of Economic Development Commissioner Joan Goldstein. “While we work to approve additional projects, we also look forward to making more support available for capital investments through the new Community Recovery and Revitalization grant program in the coming months.”
For the full list of approved applications, visit: https://accd.vermont.gov/economic-development/funding-incentives/capital...
A sample of the newly approved applications include:
Fairbanks Museum & Planetarium (St. Johnsbury)
- Renovate and expand facility, addressing Americans with Disabilities Act (ADA) compliance and heating, ventilation, and air conditioning (HVAC) upgrades, including a new ground source geothermal heating and cooling system.
- CIP grant support: $413,921
Northeast Kingdom Development Corporation (Newport)
- Renovate vacant property known as the “Bogner Building” to return the manufacturing facility and property to productive use and accommodate multiple businesses.
- CIP grant support: $232,468
Boys & Girls Club of Brattleboro (Brattleboro)
- Replace failing heating and ventilation infrastructure with new HVAC system.
- CIP grant support: $32,699
TenFold Engineering, LLC (Springfield)
- Renovate and expand manufacturing facility including purchase of new equipment for production of modular housing units.
- CIP grant support: $500,000
"The Northeast Kingdom Development Corp. is pleased to assist the City of Newport's local recovery efforts through the purchase and redevelopment of the former Bogner/AnC Bio property,” said Board Member and Northeastern Vermont Development Association Executive Director Dave Snedeker. “The project will return a vacant, dilapidated manufacturing facility to productive use and accommodate Track, Inc., a growing trail-grooming and off-road equipment business in Newport."
“Replacing our HVAC system is a long-term investment in maintaining a community resource that benefits the lives of Vermonters and transforming it into a modern and energy efficient facility,” said Boys & Girls Club of Brattleboro Executive Director Michelle Simpson. “The safety of everyone who comes to our facility will improve, our carbon footprint will reduce, and our climate control expenses will decrease substantially allowing us to add staff and enhance programming.”
The application period closed in December of 2021, and in April of 2022 the U.S. Department of the Treasury’s Final Rule became effective, determining how ARPA recovery dollars could be spent. That final rule required additional review of all applications to ensure grants fell within allowable uses.
The first round of 16 approved applicants, announced in June, granted $3 million to projects in six counties in the housing, arts and culture, outdoor recreation, accommodation and food service, health care, food distribution, and agricultural sectors. The program, first proposed by the Scott Administration and passed by the Legislature in 2021 through Act 74, is funded through the American Rescue Plan Act (ARPA).
Additional applications remain under review for use of the remaining $3.5 million and will be announced as they are approved. In addition to the $10 million allocated for the CIP, the S.11 bill signed by the Governor on June 8, 2022, appropriates an additional $40 million in ARPA funding to create the Community Recovery and Revitalization grant program. This program will be similar to the existing CIP and further details will be made available in the coming months.