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Vermont Legislative Update Week 14 | Government and Public Affairs | Downs Rachlin Martin PLLC

Governor proposes $90 million for state capital investment
Department of Economic Development Commissioner Joan Goldstein presented Governor Scott s Capital Investment Grant Proposal to the Senate Economic Development Committee this week. The proposal would allocate $90 million over three years for capital investment grants to businesses and non-profits. Regional Development Corporations and Regional Planning Commissions would identify eligible projects. Twenty-five million dollars would be dedicated to outdoor recreation projects.
Senators expressed concerns about how the Agency of Commerce and Community Development would select projects. Commissioner Goldstein said they would consider ready or near-ready proposals that will leverage other financing, with projects funded in every region. The RDC/RPC inventory of projects is a work in progress, and Commissioner Goldstein said she would provide a list to the committee when it is ready. ....

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Governor lets controversial H315 become law without his signature

Governor lets controversial H315 become law without his signature
vermontbiz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vermontbiz.com Daily Mail and Mail on Sunday newspapers.

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Business advocates implore lawmakers to forgive PPP loans | Vermont Business Magazine

Members of the Vermont Legislature,
We, the undersigned organizations, representing cumulatively more than 9,500 employers with more than 200,000 employees implore you to conform with the federal treatment of forgiven Paycheck Protection Program (PPP) loans in the tax year 2021, just as you did in tax year 2020. This is important for the following reasons:
Taxing PPP loans would negate the purpose of the program. When PPP was first created under the CARES Act, the legislative intention was that these loans would be non-taxable. Congress saw this as so important to the program’s desired impact that they took the extraordinary step of reaffirming this in the subsequent Consolidated Appropriations Act. ....

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Employers adapt to new COVID-19 landscape with support from RDCs

Tue, 01/12/2021 - 10:55am tim
by Fred Kenney, Executive Director, Addison County Economic Development Corp and President of the Regional Development Corporations of Vermont When COVID-19 hit, businesses and organizations across Vermont were scrambling to adapt to a new virtual and contactless world. In response to the changing economy, the Regional Development Corporations of Vermont (RDCs) worked quickly to launch the ReStart Vermont Technical Assistance Program, or ReVTA program, designed to deliver critically important technical assistance to hundreds of businesses and organizations looking to adapt business practices, retrofit space and access new technologies.
The magic behind this effort is its simplicity. The RDCs of Vermont twelve independent entities collaborated as we often do, to put the critical needs of businesses and organizations front and center in our pandemic response. ....

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Two Coos County Economic Development groups merge

LANCASTER — Coos Economic Development Corporation and Borders Development Corporation this week announce their merger. ....

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