|
|
 |
Vermont Center for Emerging Technologies, Inc.Local Development Corporation Loan Program
The Vermont Center for Emerging Technologies (VCET) is a nonprofit corporation formed in 2005 to establish and operate a high-technology business incubator in a 4,000 square foot section of UVM’s Farrell Hall. The incubator helps early stage, high-technology businesses, offering a traditional menu of low-cost, flexible rental space, shared office equipment and administrative support services, business education workshops, and business advisory servicing. Having filled its Farrell Hall incubator in less than 16 months, VCET sought to develop a second incubator facility. With VEDA financing of $1.1 million as part of a $3.1 million project, VCET was able to do just that.
VCET purchased a 21,000 square foot office building on 2.2 acres of land in Colchester to expand its services. The new space will provide incubator facilities to serve companies that have moved beyond initial commercialization and have begun manufacturing and producing products and services.
It is expected that VCET jobs will increase over the next three years from 13 at the Farrell Hall facility to 35 positions housed in both facilities.
|
|
|
| | | | 
Loans to nonprofit local and regional development corporations to build facilities for lease to identified eligible tenants.
Click here to read more | |
| |
|
| |
| | |
|
