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 and to repurpose federally impacted properties. 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 or, in the case of federally impacted properties, residential use. RIDP is expected to mitigate the timeline risk of permitting and building delays by having space readily available. View definition of federally impacted property. As used in this section, "federally impacted property" means real property that is: (a)Owned by the United States or by any federal agency or instrumentality thereof; or (b) Under the custody or control of a federally appointed conservator, and includes property subject to federal court jurisdiction. Questions? For support, including language translation assistance, please email us . Round One of RIDP Grant Awardees Apply Here Additional Information Intent This intent is described in Vermont ACT 78 Rural Industry Development Grant Program as follows: The Rural Industry Development Grant Program is created within the Agency of Commerce and Community Development to provide grant funds to local development corporations for the purpose of business relocation and expansion activities. Eligible Applicants Regional/local non-profit development corporations (Applicants) will be eligible to apply for the grant program. Regional/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 A grant recipient may use funding for the business relocation and expansion efforts  for the case of a federally impacted property, residential use. To purchase real property for potential the case of a federally impacted property, residential use. For the costs of site development, permitting or providing infrastructure for property the recipient owns. For a project that supports future commercial or industrial development as outlined in a development agreement. For the equity investment required for a loan transaction through the Vermont Economic Development Authority under 10 chapter 12, subchapter 3. For the matching requirement of another State or federal grant consistent with this section. For the renovation of property for the repurposing or redevelopment of  a federally impacted property. Award Amount An award shall not exceed the lesser of $1,000,000 (one million dollars USD) or 50% (fifty percent) of the total project cost.