ACCD outlines economic development tools: TIF, VEGI, brownfields and training programs
January 18, 2025 | Economic Development, Housing & General Affairs, SENATE, Committees, Legislative , Vermont
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Secretary Lindsey Kurley told the Senate Economic Development, Housing & General Affairs Committee on Jan. 17 that the Agency of Commerce and Community Development (ACCD) coordinates a suite of programs intended to grow the state tax base and support community infrastructure.
"ACCD helps Vermonters improve their quality of life by building strong communities," Kurley said as she introduced commissioners and staff who briefed the committee on the agency’s departments and funds.
Why it matters: Committee members and ACCD leaders framed economic development as a tool to expand the tax base, fund local services and enable housing and commercial projects that otherwise would not be viable without infrastructure and incentives.
The presentation described the agency’s three main departments — Economic Development, Housing and Community Development, and Tourism and Marketing — and highlighted cross-cutting programs and partners. Joan Goldstein, commissioner of the Department of Economic Development, underscored the agency’s small staff and broad scope: "we are small but mighty" and "we crunch above our weight," she said, noting the department’s role in connecting businesses to financing, workforce supports and new markets.
Key tools and programs discussed
- Vermont Economic Progress Council (VEPC) and VEGI: Kurley said VEPC (an 11-member independent public body) approves applications for incentive programs such as the Vermont Employment Growth Incentive (referred to in the briefing as "VEGI") and tax-increment financing (TIF). ACCD provides administrative support to VEPC and to related incentive reviews.
- Tax increment financing (TIF): Staff and members argued TIF is a tool to help towns fund infrastructure needed for housing or commercial development. Goldstein described the "virtuous cycle" of infrastructure investment, business growth and increased tax capacity.
- Brownfields Redevelopment Fund and CRRP (Community Recovery and Revitalization Program): Goldstein said the state’s brownfields work has leveraged large private investment; she reported that about $19.2 million in state Brownfields funding helped leverage roughly $389 million in private development. The CRRP, funded with ARPA dollars, provided $50 million to more than 150 projects statewide, Goldstein said.
- Workforce and training: The Vermont Training Program was described as covering up to 50% of training costs for new employees or upskilling. Goldstein said since FY2017 roughly 14,775 workers have been trained through the program. The presentation also noted the Apex Accelerator (formerly the Procurement Technical Assistance Center) and regional embedded counselors who help small businesses secure government contracts.
- Federal partnerships and targeted grants: ACCD staff highlighted ongoing use of federal funding and partnerships — including the Northern Border Regional Commission (NBRC), Economic Development Administration (EDA) programs, and federal export and trade supports — to fund infrastructure and technical assistance for businesses.
Committee questions and concerns
Senators pressed for more regional data and return-on-investment details for embedded counselors and federal programs. Goldstein said she would provide regional breakdowns on program outcomes and noted uncertainty about future federal funding levels but stressed the strong ROI from some federal programs.
Discussion also touched on brownfields remediation costs, which staff said can spike when complex contaminants (PFAS) are discovered; Goldstein said corrective-action plans produced by engineering consultants typically define scope and cost.
What was not decided
The briefing was informational. No formal votes or committee actions were taken during the session.
Next steps
ACCD staff told senators they will return with additional data and program-level breakdowns. Goldstein and Kurley indicated the agency will continue to work with committees on potential adjustments to incentives such as TIF and other tools to spur local investment.
Ending: Committee members asked ACCD to follow up with regional performance metrics and additional financial detail on federal and state programs to support later budget discussions.
"ACCD helps Vermonters improve their quality of life by building strong communities," Kurley said as she introduced commissioners and staff who briefed the committee on the agency’s departments and funds.
Why it matters: Committee members and ACCD leaders framed economic development as a tool to expand the tax base, fund local services and enable housing and commercial projects that otherwise would not be viable without infrastructure and incentives.
The presentation described the agency’s three main departments — Economic Development, Housing and Community Development, and Tourism and Marketing — and highlighted cross-cutting programs and partners. Joan Goldstein, commissioner of the Department of Economic Development, underscored the agency’s small staff and broad scope: "we are small but mighty" and "we crunch above our weight," she said, noting the department’s role in connecting businesses to financing, workforce supports and new markets.
Key tools and programs discussed
- Vermont Economic Progress Council (VEPC) and VEGI: Kurley said VEPC (an 11-member independent public body) approves applications for incentive programs such as the Vermont Employment Growth Incentive (referred to in the briefing as "VEGI") and tax-increment financing (TIF). ACCD provides administrative support to VEPC and to related incentive reviews.
- Tax increment financing (TIF): Staff and members argued TIF is a tool to help towns fund infrastructure needed for housing or commercial development. Goldstein described the "virtuous cycle" of infrastructure investment, business growth and increased tax capacity.
- Brownfields Redevelopment Fund and CRRP (Community Recovery and Revitalization Program): Goldstein said the state’s brownfields work has leveraged large private investment; she reported that about $19.2 million in state Brownfields funding helped leverage roughly $389 million in private development. The CRRP, funded with ARPA dollars, provided $50 million to more than 150 projects statewide, Goldstein said.
- Workforce and training: The Vermont Training Program was described as covering up to 50% of training costs for new employees or upskilling. Goldstein said since FY2017 roughly 14,775 workers have been trained through the program. The presentation also noted the Apex Accelerator (formerly the Procurement Technical Assistance Center) and regional embedded counselors who help small businesses secure government contracts.
- Federal partnerships and targeted grants: ACCD staff highlighted ongoing use of federal funding and partnerships — including the Northern Border Regional Commission (NBRC), Economic Development Administration (EDA) programs, and federal export and trade supports — to fund infrastructure and technical assistance for businesses.
Committee questions and concerns
Senators pressed for more regional data and return-on-investment details for embedded counselors and federal programs. Goldstein said she would provide regional breakdowns on program outcomes and noted uncertainty about future federal funding levels but stressed the strong ROI from some federal programs.
Discussion also touched on brownfields remediation costs, which staff said can spike when complex contaminants (PFAS) are discovered; Goldstein said corrective-action plans produced by engineering consultants typically define scope and cost.
What was not decided
The briefing was informational. No formal votes or committee actions were taken during the session.
Next steps
ACCD staff told senators they will return with additional data and program-level breakdowns. Goldstein and Kurley indicated the agency will continue to work with committees on potential adjustments to incentives such as TIF and other tools to spur local investment.
Ending: Committee members asked ACCD to follow up with regional performance metrics and additional financial detail on federal and state programs to support later budget discussions.
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