ACEDC Wins $53,000 in Economic Development Grants for Six Addison County Businesses
Vermont Business Magazine Governor Scott and Jennifer MV Fitch, Commissioner of the Vermont Department of Buildings and General Services (BGS), informed the Addison County Economic Development Corporation (ACEDC) that they have received $52,760 for six businesses in the Addison County under the Project Grant Program. in Bristol, Cornwall, Middlebury, New Haven and Vergennes.
Through annual appropriations from the Vermont General Assembly, the Building Communities Program awards $900,000 each year in matching grants statewide to municipalities and nonprofits for capital costs associated with maintenance , major renovation and development of facilities in the following categories: social services, health care and education, recreation and economic development.
Addison County organizations received a total of $95,980 for the four categories for the fiscal year 2023 funding cycle.
ACEDC applied for, received, and will administer grants in the economic development category in Addison County.
The grant program requires that the funds be essential to the success of the project, that the projects be “ready to start”, that they demonstrate the potential to create or maintain jobs and that the company provides a dollar match for dollar.
For the fiscal year 2023 funding round, $52,760 has been awarded to six Addison County businesses through ACEDC for the following projects:
- $10,000 for Cyclewise, Inc., New Haven, to relocate a storage building to accommodate the expansion of the dealership building.
- $9,000 for Daily Chocolate, LLC, Vergennes, to renovate and expand its new space in the former Community Bank facility to include retail, an updated kitchen, offices and spaces for the personal.
- $9,000 to Mechanical Advantage, LLC, Middlebury, to purchase a bar feeder and sub-spindle to add to a new power tool lathe.
- $9,260 to RAD Innovations, LLC, Cornwall, for materials and labor to add an addition to their existing facility.
- $9,000 for Satori Vermont, Middlebury, to purchase an ETHOSX2.0 Microwave Terpene Extraction System for Cannabis and Hemp.
- $6,500 for Treeline Terrains, LLC, Bristol, to purchase two CNC routers to increase production.
“The CNC router machines we purchased with this BGS grant allowed us to double our CNC machining capabilities,” said Alex Gemme, co-founder of Treeline Terrains. “During the holiday season, we sold out all of our topographic maps. The machines that ACEDC helped us purchase will allow us to meet the demand during the holiday season.”
“I am so grateful for the knowledge and support of ACEDC; they are a fabulous resource,” said Tamara Boise, owner of Cyclewise. “Thanks to their guidance, we have discovered a previously unknown opportunity. Our growing business can now get the space it needs to properly support our customers and our community with a welcoming space and new products to come.
“The support we have received from the BGS grant program is critical to our mission to expand manufacturing capacity, skills development and job retention in Vermont,” said Dave Cole, owner of Mechanical Advantage. . “The grant will allow Mechanical Advantage to purchase premium automation options. -tech, CNC machine tool. ACEDC was extremely helpful during the grant application process. We look forward to future growth with the help of ACEDC.”
14.11.2022. MIDDLEBURY, VT – Addison County Economic Development Corporation