RDCs of Vermont to Deliver $1.17 Million in Small Business Technical Assistance
Governor Phil Scott has announced the distribution of $2.5 million in federal CARES Act funding for Restart Vermont Technical Assistance. This funding will deliver robust support to Vermont businesses impacted by the economic downturn due to COVID-19. The funding, allocated by the Vermont General Assembly in Act 137, leverages existing statewide and regional assets to reach a broad range of companies in every sector and region.
The Regional Development Corporations of Vermont (RDCs of VT) were among five organizations selected to implement Restart programming. The RDC program, Restart Vermont Technical Assistance (ReVTA), will leverage a regional and statewide network of for-profit and nonprofit technical assistance providers to help small businesses. Each RDC will deploy a Recovery Navigator to work one-on-one with businesses and determine the best form of technical assistance to help each business on its path to recovery. The Navigator, client business, and technical assistance provider will develop a scope of work appropriate to solving the client’s issues. The cost of the work will be covered by the grant. The program is expected to assist over 250 businesses with grants averaging $3,000.
In Chittenden County the RDCS ReVTA Program will be administered by GBIC, the Greater Burlington Industrial Corporation. Businesses that have been impacted by the COVID-19 pandemic and would like to receive technical assistance and businesses that can provide technical assistance should register to participate in the program at: www.VermontEconomicDevelopment.com.
About 250 Vermont businesses are expected to receive technical assistance through the ReVTA program between now and December 20, the deadline to expend CARES Act funds. Technical Assistance providers and impacted businesses are encouraged to register now. Links to registration, webinar training, and more information on the RDCs of Vermont’s Restart Vermont Technical Assistance Program can be found at www.VermontEconomicDevelopment.com.