Rural Industry Development Program

Our Programs BIPOC Business and Career Assistance Program Brownfields Revitalization Fund Elevate Vermont State Trade Expansion Program (STEP) Rural Industry Development Program (RIDP) Vermont Training Program (VTP) Closed Programs Vermont APEX Accelerator Vermont Economic Progress Council (VEPC) Working Groups Housing Community Development Historic Preservation Tourism and Marketing About the Agency Rural Industry Development Program 6/26/2025 UPDATE: Applications are being accepted on a rolling basis until all funds have been allocated. The Rural Industry Development Program (RIDP) is designed to respond to a lack of available industrial space in areas that can accommodate business growth. RIDP provides grant funding through local development corporations to support business relocation and expansion efforts. Eligible uses include the and/or renovation of property for industrial use. RIDP is expected to mitigate the timeline risk of permitting and building delays that businesses confront when they express interest in moving to, or relocating or expanding within, the State by having space readily available. This program is intended to increase Vermont’s competitive advantage in the region by having available land and/or facilities for businesses that express interest in remaining in the state. RIDP requires the formation of a Rural Industry and Development Fund (RIDF). DED intends to manage RIDF as a revolving fund. That means if an industrial property that benefitted from RIDP is later sold, the awardee will return the amount of the total principle of the grant plus 2.5% compounded annually, not to exceed $250,000. That money will then be used to make more RIDP grants possible. Questions? For support, including language translation assistance, please email [email protected] . Round One of RIDP Grant Awardees Apply Here Additional Information Intent This intent is described in Vermont ACT 78 Sec. F.8: “A Rural Industry Development Grant Program is created within ACCD to provide grant funding through local development corporations to support business relocation and expansion efforts, eligible uses shall include the renovation of property for industrial use (the Project Property). To the extent funding is appropriated, ACCD shall make grants through the Program to assist local development corporations with the development of industrial real estate that can support business relocation and expansion efforts throughout Vermont.” Eligible Applicants Regional/local non-profit development corporations (Applicants) will be eligible to apply for the grant program. Local development corporation means any nonprofit organization incorporated in the state for the purpose of assisting the physical location of business enterprises in Vermont and having as its principal purpose the industrial and economic development of one or more political subdivisions. If the Applicant plans to own or develop the real estate through a separate legal entity, it must demonstrate that the Applicant is the parent organization for any real estate holding company or Limited Liability Company, or other entities that will be acquiring property or completing the project. Eligible Projects An Applicant may use an award to support business relocation and expansion efforts by constructing or improving industrial property including the following: The purchase, demolition, and/or renovation of property for industrial use. The costs of site providing infrastructure for property the recipient owns (or controls).