Director of Operations Cassie Polhemus to Assume COO Position
Montpelier, VT – The Vermont Economic Development Authority (VEDA) has announced two key management changes. Long-time Chief Operating Officer (COO) Steve Greenfield will retire at the end of 2016 and current Director of Operations, Cassie Polhemus, will assume the COO position. “This is a watershed moment for the Authority,” said Jo Bradley, Chief Executive Officer. “Steve has been VEDA’s institutional memory for decades. He has also been a wise and generous management partner and is a beloved member of our Staff. We will all miss him tremendously. But, we are delighted that Cassie Polhemus, whose own leadership has contributed greatly to the efficiency of VEDA’s operations, will be taking on even greater responsibilities in helping to manage VEDA’s future growth and success.”
Steve Greenfield has served as VEDA’s Chief Operating Office since 2004, but his tenure at VEDA goes back more than 31 years. Steve joined VEDA as a Loan Officer in 1985, after having served as the Coordinator for the Vermont Job Start Program. In 1997, Steve was named VEDA’s Deputy Manager, and was part of the management team that helped transition the Authority’s capitalization to a Commercial Paper Program, a move that helped VEDA become the self-funded organization it is today. “I have very much enjoyed working with my public and private sector friends and acquaintances in the economic development financing arena,” said Greenfield. “Together over the years we have supported and strengthened Vermont commercial and agricultural businesses of all kinds and sizes all around the state, and created many good job opportunities for Vermonters. VEDA has a strong Board, Management Team and Staff that I know will continue this work in the years to come.”
Cassie Polhemus joined VEDA in 2013 as a Commercial Lender and became VEDA’s Director of Operations in 2014. Cassie has over twenty years of experience in commercial lending and risk management with financial institutions. Prior to joining VEDA, she was Senior Vice President and Risk Manager for Northeast Member Business Services, a credit union service organization providing small business lending services to credit unions in New England and California. From 1987 to 1999, she held various commercial lending and credit management positions at banks in Connecticut and Vermont. “I am honored to assume this new management position at VEDA,” said Polhemus. “Steve’s leadership over the years has helped to make VEDA the economic development engine it is today, and I look forward to working more closely with Jo Bradley and the rest of the VEDA team to continue that good work.”
The Vermont Economic Development Authority (VEDA) is Vermont’s economic development finance lender. VEDA was created by the General Assembly in 1974 with a mission “to contribute to the creation and retention of quality jobs in Vermont by providing loans and other financial support to eligible and qualified Vermont industrial, commercial and agricultural enterprises.” Over the years, VEDA has grown and adapted its financing programs to keep pace with an ever-changing economy.
VEDA offers a wide range of low-cost lending options for Vermont businesses and farms of all sizes, and the Authority’s lending solutions are customized to each borrower’s individual needs. Whether in the form of direct loans, tax-exempt bond issuance or loan guarantee support, VEDA’s innovative financing programs help ensure that Vermont businesses and farms have the capital they need to grow and succeed. VEDA most often lends in conjunction with banks and other financing partners, helping to stimulate economic development activity in Vermont.
Since 1974, VEDA has provided over $2.16 billion in financing assistance to thousands of eligible Vermont entrepreneurs, manufacturers, small businesses, family farms, and agricultural enterprises, helping them to realize their business growth goals, create jobs, and enhance the vitality of Vermont’s economy. For more information about VEDA, visit www.veda.org or call 802-828-JOBS.