Economic Development and Tax Expenditures

Economic Development Subsidies, Loans, Training, etc.

• Vermont Economic Development Authority (VEDA) - VEDA has provided over $2.49 billion in financing assistance to thousands of eligible Vermont entrepreneurs, manufacturers, small businesses, and agricultural enterprises, helping them to realize their business growth goals, create jobs, and enhance the vitality of Vermont’s economy.

• Vermont Economic Progress Council (VEPC) - The Council serves as an approval and authorization body for the Vermont Employment Growth Incentive (VEGI) program and the Tax Increment Financing (TIF) District program.

• Vermont Economic Growth Incentive (VEGI) - The VEGI program provides a cash incentive paid from the incremental tax revenues generated to the State by the new economic activity occurring because the incentives were authorized, only after the annual payroll, job and capital investment performance requirements are met and maintained.

• Vermont Training Program - The VTP partners with employers and training providers to train Vermont's employees for the jobs of tomorrow. VTP provides performance-based workforce grants for: pre-employment training, training for new hires and incumbent workers.

• Tax Increment Financing - Tax Increment Financing (TIF) is a tool that municipalities use to finance improvements for public infrastructure like streets, sidewalks and stormwater management systems. The improvements serve a specified area known as a TIF District. Active and retired TIF Districts have proven that TIF leverages additional private investment that builds and renovates the housing, commercial, and retail space needed to grow jobs and the economy.

Tax Expenditures

• Tax Expenditure Reports by Fiscal Year