BLS & Co. periodically revises the state incentive pages to ensure our firm is providing the most current information on legislative and regulatory developments affecting available programs. Updates will be posted in the near future. In the interim, please call BLS & Co. with any questions at 609.924.9775 or reach out via email at info@BLSstrategies.com.
Research and Development Tax Credit: Businesses that incur qualified R&D expenses can claim a non-refundable tax credit equal to 27% of the federal tax credit. The credit can be carried forward for up to 10 years.
Vermont Employment Growth Incentive (VEGI): This discretionary program provides a performance-based cash grant to businesses that create net new full-time jobs and make capital investments. To qualify, businesses must create new jobs with wages at or above 140% or 160% of the Vermont Minimum Wage. The actual wage threshold (140% or 160% of the minimum wage) is based on the Labor Market Area (LMA) where the project is to be located. The incentive award is disbursed in 5 equal installments once project milestones have been met.
The Vermont Training Program (VTP): Businesses seeking to train newly hired workers and/or upgrade the skills of existing employees may be eligible for a discretionary training grant. The VTP provides reimbursable grants of up to 50% of training costs. To qualify, businesses must offer wages to trained employees that meet or exceed the state’s livable wage. Training may be conducted on-site or through a training provider/vendor.
Vermont Economic Development Authority Loans: Offers low-cost, non-forgivable financing for the purchase of land, buildings, or equipment.