FCIDC for Vermont Precision Tools, Inc.

VEDA approved an $850,000 participation in a People’s United Bank loan to help FCIDC expand its existing multi-tenant Swanton facility by constructing 17,000 square feet of additional manufacturing space for Vermont Precision Tools, Inc. (VPT). This expansion brings the facility to a total of 107,000 square feet. VPT is a manufacturer of high-grade precision ground tooling. Established in 1968 in Swanton, it has been manufacturing machine tools for various industries, including but not limited to aerospace, automotive, die casting, injection molding, medical tooling, stamping and tool and die. VPT has been leasing space at the FCIDC project building since it was constructed in 2005. The company has 233 full-time employees, a number expected to increase to 258 within three years of the project.