(The Center Square) – A second wave of state funding will be infused in Vermont’s small business sector, Gov. Phil Scott said.
The Republican governor, who will face-off with two challengers in the Aug. 9 primary, says $3.5 million in grants have been approved through the Capital Investment Program. The funding is designed to help reverse the effects of the COVID-19 pandemic to help businesses recover, retain jobs, and spur growth.
“My administration remains focused on increasing economic equity from region to region through our economic recovery and community revitalization efforts,” Scott said in the release.
The governor said he was pleased to work with the Legislature “to secure additional investments.”
Grant applications were approved, according to the release, for 12 businesses in six counties. The dollars will be infused into education, outdoor recreation, child care, health care, arts and culture, and housing.
TenFold Engineering LLC in Springfield, according to the release, will use $500,000 to renovate and expand a manufacturing facility and purchase new equipment for the production of modular homes.
According to the release, $413,921 goes to the Fairbanks Museum & Planetarium in St. Johnsburg. The group will use funding to renovate and expand the facility. The Northeast Kingdom Development Corp. in Newport will use $232,468 to renovate vacant property to house multiple businesses.
Department of Economic Development Commissioner Joan Goldstein said the funding to the projects “will begin to reverse the harm on impacted industries” while at the same time assisting households to help strengthen and revitalize communities.”