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The Vermont Statutes Online



Title

10

:
Conservation and Development






Chapter

012

:
VERMONT ECONOMIC DEVELOPMENT AUTHORITY






Subchapter

001
:
GENERAL PROVISIONS










 

§

211. Legislative findings

(a) The

legislature finds that it is necessary to alleviate and prevent unemployment

and underemployment and to raise the per capita income within the state, that

the development and increase of industry, including the further processing of

agricultural products, within the state will promote the prosperity and general

welfare of all citizens, and that this chapter is necessary and desirable in

order to accomplish these purposes. The legislature also finds that it is

necessary and desirable to encourage the development, production, and

distribution of renewable energy resources within the state.

(b) The

legislature further finds that small businesses are responsible for generating

the majority of new jobs; and substantial economic development opportunity

exists encouraging entrepreneurial development and innovation in Vermont. The

legislature further finds that business incubator facilities have proved to be

effective tools to help small and start-up businesses through the difficult

early years with low-cost, flexible space, necessary support services at an

affordable cost, and with managerial and technical assistance on such items as

bookkeeping, inventory control, marketing and personnel. Vermont's experience

with business incubators confirms their value in nurturing jobs and

entrepreneurship. The legislature further finds that business incubator

facilities related to institutions of higher education nationwide have been an

excellent source for successful business enterprises.

(c) Therefore,

the general public advantage requires:

(1) An increased

inventory of industrial sites and modern buildings suitable to house new or

existing business enterprises;

(2) The

expansion, reclamation, or renovation of existing buildings to house new or

existing business enterprises;

(3) Low-cost

capital available to local development corporations for the purchase of land

for industrial sites, for planning and development of industrial parks and for

the construction of speculative industrial buildings and small business

incubator facilities;

(4) Low-cost

capital available to industrial enterprises to provide land, buildings, and

equipment for industrial expansion;

(5) Aid to

existing business enterprises in the state when such aid will prevent serious reduction

in employment, or will enhance or increase the existing level of employment;

(6) Low-cost

capital for the abatement of industrial air and water pollution and general

improvement of the disposal of industrial waste;

(7) Low-cost

capital to assist Vermont family farmers to farm as provided in subdivision

272(a)(3) of this title;

(8) Low-cost

capital available for the purchase of land, buildings, and equipment to process

Vermont milk, including the processing of milk into cheese, yogurt, or other

value-added milk products; and

(9) Low-cost

capital to assist the wood products enterprises to provide an adequate supply

of mill quality chips for Vermont public and private schools and other entities

that rely upon wood as a primary source of heating. (Added 1973, No. 197 (Adj.

Sess.), § 1; amended 1975, No. 217 (Adj. Sess.), § 4; 1985, No. 81, § 2; 1985,

No. 136 (Adj. Sess.), § 1, eff. April 24, 1986; 2003, No. 63, § 73, eff. June

11, 2003; 2003, No. 121 (Adj. Sess.), § 91, eff. June 8, 2004.)