VT Digger: Thanks to new business grants program, companies can get up to $300,000

By Anne Wallace Allen

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State officials are creating rules for Vermont’s latest business grant program, hoping to send $76.7 million in federal money where it is needed the most.  

The application process for the business grants program, which was approved by lawmakers Sept. 25 as part of the state budget, is being refined to increase the eligibility pool, said Joan Goldstein, the state’s economic development commissioner.

The original $150 million emergency business grants program was launched July 6. That program, set up by the Legislature to help companies that lost money because of the Covid-19 pandemic, ultimately made grants of up to $150,000 available to individual businesses.

The new program will make up to $300,000 available in all — meaning businesses that got the full $150,000 in the first round can get up to $150,000 more. Companies that got less than $150,000 can apply for the difference between their grant and the $300,000 total.

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