§ 280b. The Vermont sustainable jobs strategy
(a)(1) Before issuing any funds to an eligible facility or eligible project under section 280a of this title, the Authority shall make a determination that the facility or project materially
supports one of the following objectives:
(A) creating or sustaining employment opportunities for Vermonters in proportion to the
amount of financial assistance requested;
(B) providing quality employment at wage and benefit levels sufficient to permit a reasonable
standard of living by community standards, and at levels that may contribute to bringing
Vermont’s average wage up to or above 100 percent of the national average wage rate;
(C) promoting employment opportunities in economically disadvantaged areas and communities
in the State;
(D) advancing the overall growth of wealth in the Vermont economy by promoting the production
and sale of goods and services with a substantial Vermont content and those that utilize
Vermont’s unique human and natural resource base to markets outside of the State and
nation, including visitors to, and travelers through, the State;
(E) assisting the development of a business infrastructure that will contribute to sustainable
economic development, to include the provision of necessary services, including shipping,
warehousing, communications, repair and maintenance, technical services, distribution,
and dependent care, particularly when intrastate capability in these areas can replace
services currently provided by out-of-state suppliers;
(F) encouraging economic development projects that reduce, mitigate, or eliminate the
effects of climate change, the pollution of land, air, or water, or those that will
interdict material within the State that, having served its intended purpose, would
otherwise enter the solid waste disposal stream and that will cause the diversion
of such material to useful purposes, or that will reuse or recycle any such postconsumer
material;
(G) encouraging commercial activity in the traditional downtown areas of the State and
promoting through appropriate commercial adaptation the preservation of suitable buildings
or structures that are historically or aesthetically significant;
(H) encouraging economic development projects that are consistent with and sensitive to
the needs of the communities in which such projects are located;
(I) promoting entrepreneurial activity, recognizing that some of those that are the small
businesses of today will be the large employers of tomorrow; and
(J) aiding in the achievement of the economic development and business growth strategies
adopted by the Vermont Economic Progress Council and the Vermont Department of Economic
Development, wherever possible providing assistance to those categories of enterprise
that may be designated as especially desirable for Vermont.
(2) All determinations and findings made by the Authority pursuant to this section shall
be conclusive.
(b) The Authority may adopt such policies and procedures necessary to define further any
term or criterion used in this section or to set specific standards by which to measure
the extent to which any proposed project meets the requirements of this section.
(c) In deciding whether to provide financial assistance to an applicant, the Authority,
after determining that a project meets its credit underwriting standards, shall take
into account the criteria outlined in this section, the overall benefits of the project
to the State and to the community in which it is proposed to be located, the amount
of assistance requested, and the availability of Authority resources to fund the request. (Added 1995, No. 46, § 14, eff. April 20, 1995; amended 1995, No. 190 (Adj. Sess.), § 1(b); 2025, No. 26, § 1, eff. July 1, 2025.)