Vermont Tax-Exempt Bonds Assist Three Firms With Expansion
01/26/2017
"VEDA is pleased to provide financing assistance to several manufacturing businesses that are expanding and creating new jobs for Vermonters," said Jo Bradley, VEDA's Chief Executive Officer.
Projects approved by VEDA for financing assistance include:
Autumn Harp, Inc. and Black Bay Ventures V received final approval for the issuance of tax-exempt VEDA industrial revenue bonds to help the company undertake an expansion project at the its Essex, Vermont, manufacturing facility which is owned by Black Bay Ventures V, LLC.
Autumn Harp is a Research & Development and manufacturing partner in the cosmetics and skincare industry. The company is in need of additional manufacturing space to meet increased product demand and ensure its ability to add additional products for its customer base of multinational companies. The project will also include new machinery and equipment purchases by Autumn Harp. The bonds will be purchased by TD Bank.
Rutland Mental Health Services, Inc., a non-profit provider of essential mental health services in Rutland County, Vermont, was granted final approval for up to $3.0 million in tax-exempt bonds to refinance debt associated with the 2008 construction project at its South Main Street facility.
VEDA also gave final approval for the issuance of up to $1.0 million in taxable bonds related to costs incurred in 2014 for the construction of its Stratton Road facility. The underwriter of the bonds will be Municipal Capital Markets Group, Inc., and Zions Bank will be the Trustee.
Global Values, Inc. was approved for $90,000 in financing to enable the Barre, Vermont, granite monument manufacturer to expand operations. The company will purchase of additional machinery and equipment and related renovations to their facility. Community National Bank is also providing financing for the expansion project.
A distributor of imported high-quality, color granite monuments since 1999, GVI purchased Houle Brothers in 2015 to expand into granite manufacturing. GVI now purchases raw blocks of stone, both locally and imported, and manufactures them to completion with control over production, timing, and margins. GVI has 31 employees, a number the company expects to increase to 65 within three years of the expansion project.
Project Announcements
Alltech Expands Jessamine County, Kentucky, Manufacturing Operations
07/30/2025
Liatris Expands Rockville, Maryland, Manufacturing Operations
07/30/2025
China-Based Eco King Solutions Plans Robbinsville, North Carolina, Production Operations
07/30/2025
Hood Container Upgrades West Feliciana Parish, Louisiana, Operations
07/29/2025
MR6 Tech Services Plans Huguley, Alabama, Manufacturing Operations
07/29/2025
Adient Plans Normal, Illinois, Production Operations
07/29/2025
Most Read
-
20th Annual Area Development Gold and Silver Shovel Awards
Q2 2025
-
In Focus: AI Is Changing Incentives Math
Q2 2025
-
Optimizing Your Rail-Served Transportation Network: Strategy Before Steel
Q2 2025
-
How to Choose the Right Site for Your Factory in 2025’s Volatile Landscape
Q2 2025
-
From Silicon to Server: Mapping the Data Center Supply Chain
Q2 2025
-
Tariffs, Talent, and U.S. Expansion
Q3 2025
-
First Person: David Robey, Co-CEO of QTS Data Centers
Q2 2025