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Searching 2023-2024 Session

The Vermont Statutes Online

The Vermont Statutes Online have been updated to include the actions of the 2023 session of the General Assembly.

NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.

Title 10 : Conservation and Development

Chapter 012 : Vermont Economic Development Authority

Subchapter 001 : General Provisions

(Cite as: 10 V.S.A. § 211)
  • § 211. Legislative findings

    (a) The Legislature finds that it is necessary to alleviate and prevent unemployment and underemployment and to raise the per capita income within the State, that the development and increase of industry, including the further processing of agricultural products, within the State will promote the prosperity and general welfare of all citizens, and that this chapter is necessary and desirable in order to accomplish these purposes. The Legislature also finds that it is necessary and desirable to encourage the development, production, and distribution of renewable energy resources within the State.

    (b) The Legislature further finds that small businesses are responsible for generating the majority of new jobs, and substantial economic development opportunity exists encouraging entrepreneurial development and innovation in Vermont. The Legislature further finds that business incubator facilities have proved to be effective tools to help small and start-up businesses through the difficult early years with low-cost, flexible space, necessary support services at an affordable cost, and with managerial and technical assistance on such items as bookkeeping, inventory control, marketing and personnel. Vermont’s experience with business incubators confirms their value in nurturing jobs and entrepreneurship. The Legislature further finds that business incubator facilities related to institutions of higher education nationwide have been an excellent source for successful business enterprises.

    (c) Therefore, the general public advantage requires:

    (1) an increased inventory of industrial sites and modern buildings suitable to house new or existing business enterprises;

    (2) the expansion, reclamation, or renovation of existing buildings to house new or existing business enterprises;

    (3) low-cost capital available to local development corporations for the purchase of land for industrial sites, for planning and development of industrial parks, and for the construction of speculative industrial buildings and small business incubator facilities;

    (4) low-cost capital available to industrial enterprises to provide land, buildings, and equipment for industrial expansion;

    (5) aid to existing business enterprises in the State when such aid will prevent serious reduction in employment or will enhance or increase the existing level of employment;

    (6) low-cost capital for the abatement of industrial air and water pollution and general improvement of the disposal of industrial waste;

    (7) low-cost capital to assist Vermont family farmers to farm as provided in subdivision 272(3) of this title;

    (8) low-cost capital available for the purchase of land, buildings, and equipment to process Vermont milk, including the processing of milk into cheese, yogurt, or other value-added milk products; and

    (9) low-cost capital to assist the wood products enterprises to provide an adequate supply of mill quality chips for Vermont public and private schools and other entities that rely upon wood as a primary source of heating. (Added 1973, No. 197 (Adj. Sess.), § 1; amended 1975, No. 217 (Adj. Sess.), § 4; 1985, No. 81, § 2; 1985, No. 136 (Adj. Sess.), § 1, eff. April 24, 1986; 2003, No. 63, § 73, eff. June 11, 2003; 2003, No. 121 (Adj. Sess.), § 91, eff. June 8, 2004.)