The Brattleboro Development Credit Corp. (BDCC) and Southeastern Vermont Economic Development Strategies (SeVEDS) have submitted a proposal to secure $300,000 of the $2 million provided by Entergy to the Windham County Economic Development Program in the first round of funding to mitigate the economic effects of Vermont Yankee’s closure.
The proposal, submitted by the BDCC on Sept. 24, would use the money to create two full-time positions — one to promote tourism and marketing and the other to support entrepreneurship and innovation — as well as to form a Green Building and Service Cluster in southern Vermont. The state will evaluate this and other proposals and Gov. Peter Shumlin will decide which receive funding in late November.
The county anticipates that the closure, scheduled for December, to cause steep declines in GDP, real estate value, human capital and local and state tax revenue. The $2 million from Entergy represents the first of five rounds of funding of equal amounts to be paid by the Louisiana-based energy company in accordance with its agreement with the state.
SeVEDS, a nonprofit organization working in conjunction with the BDCC, hopes to use some of that money to advance several of the projects they developed through a Comprehensive Economic Development Strategies (CEDS) report. The funding would be used in part to hire a full-time director for their Strengthening Southern Vermont initiative.
The initiative aims to unite towns, tourism entities and employers from across the region to attract more visitors and long-term residents to Southern Vermont. It will implement outreach using publicly developed branding concepts and will include a “Visit Southern Vermont” website and digital and print advertisements encouraging visitors and prospective residents to “Become a Vermonter.”
The second position would focus on organizing efforts to support and promote entrepreneurship in the Windham County region. While Laura Sibilia, BDCC Director of Economic Development, said the groups are excited by the prospect of businesses relocating to the area, their efforts will focus mainly on supporting the entrepreneurs already based in Windham County.
“It’s pretty eye-opening when you look at the things people are doing down here,” Siblia said. “We think there’s a lot of innovation and a lot of opportunity. These are jobs in the STEM field. They’re higher paying, sustainable jobs, growing out of Vermont.” (STEM stands for Science, Technology, Engineering and Mathematics.)
The third component of the proposal is the development of a Green Building and Services Cluster — a consortium of regional entities working together for mutual benefit within the green economy. The idea for this industry cluster was developed after the economic development consulting firm ViTAL Economy found significant and underutilized assets within the green economy in Southeastern Vermont.
The cluster would unite the disparate entities working on the cutting edge of green building, green research, renewable energy and green services. It would work to find niches in the green industry and form partnerships to better integrate all aspects of the value chain — from research, to development, to production, and exportation — into the local economy.
“The Green Building and Service Cluster is a key part of that whole transition of making sure there will be good jobs in Southeastern Vermont in the future, regardless of what happens at Vermont Yankee,” said Frank Knott, president of ViTAL Economy.
Competition for the funding will be stiff, with 26 proposals submitted by area businesses, nonprofit organizations, and municipalities for a portion of the $2 million.
“Whenever lots of money goes to one region after negotiation,” Knott said, “everybody goes nuts and every idea in the world comes up. … The application process ought to be set up to make sure that whatever gets approved is based on what the CEDS says is important because the CEDS was developed by hundreds of people in the region.”
Sibilia believes her groups’ proposal has a solid chance at landing money, citing the collaborative, grassroots nature of its conception and the careful deliberation that has gone into the development of its priorities.
“We certainly do hope that these projects, which have been through a rigorous public process here, are approved,” Sibilia said. “It has been well-communicated that they are high priorities for the region.”
