GBIC is a key partner in Vermont’s overall economic development. Serving the largest and most economically and demographically diverse county in Vermont, we work closely with the Vermont Department of Economic Development, The Vermont Agency of Commerce and Community Development, state officials and others to help sustain a positive business climate in areas such as labor and housing markets; business financing; education; export assistance; growth planning and development issues; and environmental concerns.

The primary goal of GBIC is the creation and retention of value-added jobs that will strengthen the region’s economy and improve the quality of life for area residents. The primary economic market focus of GBIC is the region’s value-added industry sectors and the region’s economy-driving businesses.

The State of Vermont offers a cash incentive for new job creation through the Vermont Employment Growth Incentive (VEGI) program.  Companies must apply to be authorized for the incentive through the Vermont Economic Progress Council, which determines eligibility based on three factors: Would the proposed activity occur without the incentive (But For); does the company and project meet program guidelines; and will the project generate new tax revenues for the State beyond the cost of the incentives. The incentive is calculated by determining the net fiscal impact of qualifying new jobs (full-time, permanent, non-owner, earning above the VEGI wage threshold) payroll and capital investments made by the applicant for a period of up to five years. The resulting net revenue impact is used to calculate a percentage, which is then applied against the qualifying new payroll of the net new qualifying jobs created, the product of which is the incentive amount the company can earn that year, if base payroll is maintained and targets are met. The earned incentive is paid out in five installments if the new payroll and jobs are maintained.

Applications for the VEGI incentive are authorized through the Vermont Economic Progress Council (VEPC); applications can be submitted at any time, and are reviewed on a monthly basis.   GBIC works with businesses prior to and throughout the application process to ensure that criteria are understood and fully detailed.

Site selection is critical to the success and growth potential of our regional employers. GBIC works with both developers and commercial and industrial real estate professionals to find space to meet the needs of business. Additionally, GBIC has developed seven industrial parks since its inception and currently operates Catamount Industrial Park in Milton, VT. Our deep history of developing in Vermont and close relationships with the State and the Regional Planning Commission provide support with permitting and zoning throughout Chittenden County.

State of Vermont Programs

Vermont Training Program

The Vermont Training Program provides training funds for new and existing businesses in the areas of Manufacturing, IT, Healthcare, Telecommunication, and Environment. The state supports funding for three training initiatives: new employment, upgrade, and crossover training for incumbent workers. These individually designed training programs may include on-the-job, classroom, skill upgrade, or other specialized training that are mutually agreed upon between the state and employer. Learn more >>

Workforce Education and Training Fund

The Workforce Education and Training Fund (WETF) provides grants that support the improvement of occupational skills for Vermonters who are unemployed, underemployed or are at risk of unemployment due to changing workforce skill requirements.  The (WETF) helps the Vermont labor force via the mechanisms of either training or internships, both in collaboration with current employers. Learn more >>

Workforce Investment Board

Composed of a community collaborative of employers, educators, state agencies and other stakeholders, the Lake Champlain Workforce Investment Board (LCWIB) endeavors to advance workforce education and training in the Lake Champlain region.  The LCWIB works to bridge the gap between the ever changing needs of the workplace, and the current skills of our workforce. Learn more >>

Technical Centers in the Burlington Area

Burlington Technical Center

Burlington Technical Center (BTC) provides technical and career-focused education to high-school and adult students wishing to improve their skill sets as they work towards future goals.  BTC partners with area employers to provide the most up to date work-site training and educational opportunities in sectors ranging from automotive repair to criminal justice. Learn more >>

Center for Technology at Essex

The Center for Technology, Essex (CTE) offers comprehensive technical programs for high-school and adult students seeking a learning environment that provides career exploration, preparation and technical literacy.  CTE provides a number of programs in the fields of applied sciences and technology, professional and personal services, and information technology.  CTE understands that adult students may have different needs in terms of finances and time, and works to provide opportunities to help these students thrive. Learn more >>

Providing a variety of low-cost financing options to Vermont businesses since 1974, the Vermont Economic Development Authority (VEDA) was created by the General Assembly to be the state’s economic development finance lender.

GBIC works with employers to better understand the capital market in Vermont, helping with VEDA financing, debt financing through banks, and other equity capital resources.

Greater Burlington Banking Institutions

• Charter One Bank
• Chittenden Bank
• TD Bank
• KeyBank, N.A. of Vermont
• Merchants Bank
• Northfield Savings Bank
• People’s United Bank
• Vermont Credit Unions
• Freshtracks Capital

In a partnership with the Lake Champlain Regional Chamber of Commerce (LCRCC), GBIC provides members with updates, reports and statements on the Vermont legislature and maintains a consistent presence in the statehouse to ensure that employer’s interests are heard. Learn more >>