RUTLAND ECONOMIC DEVELOPMENT CORP

RUTLAND ECONOMIC DEVELOPMENT CORPORATION DOES BUSINESS AS THE CHAMBER & ECONOMIC DEVELOPMENT OF THE RUTLAND REGION(CEDRR). THE PRIMARY GOAL OF CEDRR IS TO FACILITATE THE EXPANSION, RELOCATION AND RETENTION OF BUSINESS AND INDUSTRY IN THE AREA. A CORE FUNCTION OF CEDRR IS TO EXPAND AND CREATE PARTNERSHIPS AND STRATEGIC ALLIANCES TO PROVIDE TECHNICAL ASSISTANCE FOR STARTING AND GROWING SMALL BUSINESSES. TO HELP FULFILL THIS FUNCTION, CEDRR PROVIDES FIXED-RATE LOANS THROUGH ITS REVOLVING LOAN FUND. THE REVOLVING LOAN FUND PROVIDES BUSINESSES WITH LOANS BETWEEN 5,000 250,000. AS LOANS ARE REPAID, THEY ARE REINVESTED BY CEDRR IN THE FORM OF NEW LOANS TO OTHER BUSINESSES. CEDRR ALSO WORKS WITH OTHER PARTNERS SUCH AS VERMONT ECONOMIC DEVELOPMENT AUTHORITY (VEDA) AND THE U.S. SMALL BUSINESS ADMINISTRATION (SBA) AS WELL AS PRIVATE AND ALTERNATIVE LENDERS. CEDRR ALSO PROVIDES TECHNICAL SUPPORT, WORKFORCE TRAINING AND DEVELOPMENT PROGRAMS AND BUSINESS PLANNING SUPPORT TO BUSINESSES THROUGHOUT THE REGION BY PROVIDING RESOURCES FOR BUSINESS FINANCING, ASSISTING WITH JOB POSTINGS AND INTERNSHIP OPPORTUNITIES, CREATING WORKFORCE TRAINING PROGRAMS, AND PROVIDING A MAKERSPACE FOR PEOPLE WHO GET NEW BUSINESSES UP AND RUNNING. THE SERVICES NOTED ABOVE ARE INTENDED TO CREATE A BRIDGE BETWEEN BUSINESS AND COMMUNITY TO PROMOTE HEALTHY AND VIBRANT NEIGHBORHOODS AND ENHANCE THE QUALITY OF LIFE IN RUTLAND COUNTY. CEDRR FULFILLS THIS PART OF THEIR MISSION BUT HOSTING EVENTS AND ACTIVITIES THROUGHOUT THE YEAR AND BY BEING A HUB OF RESOURCES FOR THOSE LIVING AND WORKING IN THE REGION. TO FURTHER ITS WORK IN CREATING VIBRANT COMMUNITIES, CEDRR LAUNCHED REAL RUTLAND AFTER IDENTIFYING THE NEED TO INCREASE OUR WORKFORCE AND OVERALL POPULATION IN RUTLAND COUNTY TO SUPPORT THE NECESSARY BUSINESS GROWTH. REAL RUTLAND IS MADE UP OF REAL PEOPLE WHO LIVE, WORK, AND PLAY IN RUTLAND COUNTY, VERMONT. CEDRR STAFF AND ITS DEDICATED VOLUNTEERS ARE PASSIONATE ABOUT THIS REGION, AND ALL ARE PROUD TO CALL RUTLAND COUNTY HOME. SINCE THE BIRTH OF REAL RUTLAND, CEDRR HAVE SEEN OVER 100 INDIVIDUALS RELOCATE, SPECIFICALLY THROUGH THE REAL RUTLAND CONCIERGE PROGRAM. START-UP RUTLAND WAS LAUNCHED IN 2023. START-UP RUTLAND IS AN EDA FUNDED PROGRAM TO HELP SMALL BUSINESSES AND ENTREPRENEURS TO START AND MAINTAIN BUSINESS DEVELOPMENT SKILLS. THE PROGRAM OFFERS EDUCATIONAL CLASSES TO THE LOCAL COMMUNITY MEMBERS TO HELP INCREASE THE KNOWLEDGE OF THE LOCAL WORKFORCE. CEDRR'S REGIONAL MARKETING PROGRAM HAS BEEN DOING WONDERS WITH HELPING FAMILIES THAT ARE INTERESTED IN MOVING TO THE AREA THROUGH CONCIERGE AND WEEKEND GETAWAY PROGRAMS. CEDRR'S COMMUNITY EVENTS PROGRAM HAS EXCEEDED EXPECTATIONS WITH THE SUCCESS OF BRINGING PEOPLE OUT INTO THE COMMUNITY WITH THE RUTLAND REGION. WHILE BRINGING NEW AND RETURNING INDIVIDUALS INTO THE AREA, IT HAS HIGHLIGHTED SALES AND SERVICE OF DOWNTOWN RUTLAND AND HAS SHOWN SUPPORT OF LOCAL BUSINESSES.