SAVE the DATE for SRDC's Annual Meeting
Tuesday, October 27, 4:00 pm Virtual Zoom Format Guest Speaker Dan Smith, President & CEO Vermont Community Foundation More information to follow.
Economically Speaking Serving the communities of: Andover, Baltimore, Cavendish, Chester, Ludlow, Reading, Springfield, Weathersfield, Windsor and West Windsor
Navigating Through Choppy Waters By Bob Flint, Executive Director
The leaves are turning, the temperatures are starting to cool and we’re all bracing for what will be an uncertain time ahead.
COVID-related activities are still dominating our work here at SRDC. Elsewhere in this newsletter, you’ll read about the Restart Vermont Technical Assistance (ReVTA) program. SRDC, and the other RDC’s of Vermont, are helping to facilitate funds for specialized technical assistance to businesses recovering from the economic impact of the pandemic. As of this writing, we have businesses in 5 of our towns that have registered for this help as well as other companies who have signed up to serve as vendors to deliver the assistance. This is a program with a very fast turnaround – all work needs to be completed by 12/4.
Find out more at www.vermonteconomicdevelopment.com! Amanda Porter and Larry Kraft are serving as our Business Navigators for this program and they will be helping the businesses that register determine their recovery needs and use this program to assist.
We also have received additional funding for the Springfield Area Revolving Loan Fund to assist with COVID related needs (these are loan funds, not grants). If you’re interested in learning more, contact Paul Kowalski here at SRDC – pkowalski@springfielddevelopment.org.
There will be additional state grant funds coming in the next few weeks, as the Legislature approved the state budget for the remainder of FY21 with additional resources for businesses. We will continue to work with VtSBDC on updating the Disaster Financing Worksheet, which is posted on our website and which we email directly to folks. If you are not receiving that and would like to, please contact Sandy Clifford – sandy@springfielddevelopment.org
But COVID is not all we’re dealing with! Thankfully, several area businesses are doing well and growing, even with the craziness of the moment. We are delighted to see Vermont Timberworks in their new building, a year after the fire that destroyed their headquarters. We are working with companies on workforce needs and various growth scenarios.
Most importantly, we hope all of you, and your families, are staying healthy and safe!
SRDC Receives Extra Funding for COVID RLF To Help Area Businesses
Springfield Regional Development Corporation (SRDC) has been awarded $550,000 in EDA CARES Act Recovery Assistance funding to capitalize and administer the Springfield Area Revolving Loan Fund for loans to coronavirus-impacted small businesses in Southern Windsor County.
Applications are available now! Loan funds are intended for use for COVID-related impact, such as working capital needs or helping to cover equipment or renovation costs.
The Springfield Area Revolving Loan Fund (RLF) utilizes funds from the Economic Development Administration. Funding from the RLF is available to applicants in the ten towns in the SRDC service region.
For more information about the Springfield Area Revolving Loan Fund, or to get a loan application, please contact Paul Kowalski at SRDC, pkowalski@springfielddevelopment.org or 802-885-3061.
Windsor County COVID-19 Recovery Forum: Response and Recovery to Renewal
On October 8th from 6:30-8:30 pm, the Local Solutions and Community Action Team established by Governor Phil Scott invites you to join a virtual COVID-19 recovery discussion to connect with others in Windsor County to:
Share challenges and ideas for community recovery and resilience as we look ahead to the coming fall/winter months
Connect to others working to build long-term community and economic resilience
Meet with a “visiting team” of state, federal, business, and non-profit leaders who will share recovery strategies from across the state and ideas for resources and support
6:40 pm - Breakouts (choose which topic is most important to you!)
Education & Childcare
Local Food Systems and Food Security
Housing & Homelessness
Affordable & Accessible Broadband
8:10 pm - Closing Session
All ARE WELCOME. Coming together to discuss recovery strategies and build ongoing resilience is vital and your voice is critical. If you are in need of ASL Interpretation please contact jenna@vtrural.org by October 6th.
Registration is required: www.vtrural.org/recovery/windsor Once you are registered, you will receive instructions to join via computer, mobile device, or phone. For assistance with registration contact info@vtrural.org or 802-223-6091.
Recovery Visits are hosted by the Local Support and Community Action Team of the Governor’s Economic Mitigation and Recovery Task Force, in partnership with the Southern Windsor County Regional Planning Commission & Two Rivers Ottauquechee Regional Commission, and produced by the Vermont Council on Rural Development.
FREE SPRINGFIELD AREA EMPLOYER RESOURCES MEETING TO HELP
WITH HR NEEDS - 10/7/2020
Thanks to those who attended the first Springfield Area Employer Resources meeting. We look forward to seeing you all and some new faces for October. Here is the invitation for our second meeting.
As a reminder, this resource is available (free of charge) to all employers in the Greater Springfield Area through funding from the Working Communities Challenge. We, at Adaptiva HR <https://adaptivahr.com/>, coordinate and facilitate the meetings.
Anyone is welcome to attend, however, the people who serve in your organization’s Human Resource role(s) will likely get the most out of the meetings. Business leaders and managers may also want to attend, depending on the topic.
We will gather (virtually) on the first Wednesday of each month from 9:30-11:00. We ask that you RSVP for each meeting to help with structuring the online format, but you are also always welcome to drop-in without an RSVP. The meeting link will be in the invitation as well as a reminder message to all who RSVP. If you have any questions about the format, topic, or anything else feel free to contact Adaptiva HR directly: jennifer@adaptivahr.com <mailto:jennifer@adaptivahr.com>
Invitation for the October meeting:
Vermont’s unemployment rate is currently at 8.4% but you continue to hear that one of the most significant challenges for employers is recruiting new employees. Fear of not finding a replacement or general discomfort giving feedback frequently leads employers to avoid managing performance problems. This in turn often results in lower productivity and higher turnover throughout the company.
This month we’ll talk about why it’s important to address workplace issues proactively and share some performance management strategies. In the coming months we will also focus on other topics related to recruiting and its counterpart, retention.
This interactive workshop is appropriate for HR professionals and all levels of management. There will be plenty of opportunities to ask questions. The goal is to deepen and broaden your knowledge and also to take away practical steps and tools to implement.
Topic:Using Performance Feedback to Reduce the Need to Recruit
ReStart Vermont Technical Assistance Program Available Through SRDC
Governor Phil Scott and Lindsay Kurrle, Secretary of the Agency of Commerce and Community Development announced the distribution of $2.5 million in federal CARES Act funding for Restart Vermont Technical Assistance. This funding will deliver robust support to Vermont businesses impacted by the economic downturn due to COVID-19. The funding, allocated by the Vermont General Assembly in Act 137, leverages existing statewide and regional assets to reach a broad range of companies in every sector and region.
The Regional Development Corporations of Vermont (RDCs of VT) were among five organizations selected to implement Restart programming. The RDC program, *Restart Vermont Technical Assistance (ReVTA)*, will leverage a regional and statewide network of for-profit and non-profit technical assistance providers to help small businesses. Each RDC will deploy a Recovery Navigator to work one-on-one with businesses and determine the best form of technical assistance to help each business on its path to recovery. The Navigator, client business, and technical assistance provider will develop a scope of work appropriate to solving the client’s issues. The cost of the work will be covered by the grant. The program is expected to assist over 250 businesses with grants averaging $3,000.
In Southern Windsor County, the RDCs ReVTA Program is being administered by SRDC. Businesses that have been impacted by the COVID-19 pandemic and would like to receive technical assistance and businesses that can provide technical assistance should register to participate in the program at: www.VermontEconomicDevelopment.com
<http://www.vermonteconomicdevelopment.com>. Note that vendor/provider registration (for those that can provide technical assistance) is now open! And click on the "Webinar" tab for dates/times for webinars next week, for both businesses and providers.
About 250 businesses are expected to receive technical assistance through the ReVTA program between now and December 20, the deadline to expend CARES Act funds. Technical Assistance providers and impacted businesses are encouraged to register now.Links to registration, webinar training, and more information on the RDCs of Vermont’s Restart Vermont Technical Assistance Program can be found at www.VermontEconomicDevelopment.com
<http://www.vermonteconomicdevelopment.com>.
The Black River Innovation Campus welcomes several new co-working members to the community and has expanded its footprint in the historic Park Street School to include two more rooms. As part of the Rural Innovation Network, BRIC is currently participating in the Udacity "Future Is Digital Challenge", offering foundational courses in Digital Marketing, Business Analytics, and Front End Development. Enrollment is open and underway for this program - visit www.bricvt.org/udacity for more information. BRIC continues to offer its Remote Work Professional Certificate course. The next cohort for this program begins on Monday, November 2. Finally, the Black River Innovation Campus is excited for the launch of its Startup and Entrepreneur Incubator Program. Stay tuned for more details! This unique program will equip digital and tech startups with the tools necessary for business growth and development and will feature BRIC's extensive mentorship network!
From Debra Boudrieau, VtSBDC Area Business Advisor -
I’ve made a commitment to not use the words “the new normal” as I work with small business owners. They’re hard not to use as the media use this phrase all the time. Why won’t I? First, because you are, I’m certain, as tired of hearing it as I am. And second what is occurring now is not normal…new or otherwise.
So how do we proceed? The two words I am using over and over are: Assess and Respond. I believe this is the “new” business model. Pre-COVID I’ve always stressed the positives of long range strategic planning. Now? A long range plan feels less and less effective. What needs to be done now is a repeated assessment of the health of your business and a fluid response.
The assessment needs to include:
Your financials. Keeping your QuickBooks (or other accounting systems) up to date is critical. You need those numbers to understand precisely how COVID is affecting your business. And focus on the bottom line is very important as you make pivots and change your business model. Often business pays too much attention to sales revenues (the top line) and that can be discouraging in these times as markets in some sectors are less than ideal. But a look at the bottom line can be encouraging as businesses streamline operations and add new revenue streams. So keep a keen eye on the last number of your P&L.
Your customers. Are they accessing your services? In person/ On-line? Are you in constant contact with them? Are you listening to what they need and how their needs are changing?
Your market. This is the broader sector view. What is happening locally, regionally, globally?
Your marketing. In addition to all of the safety messaging you need to continue to do how is the rest of your marketing? Website? Social Media? In location if you are open to the public?
Safety. This will remain a constant and changing message until (and after) we have a vaccine. Are you monitoring your sector to make sure that you are doing everything you need to be doing? And above all to your customers feel safe?
Your employees. First: do they feel safe? Second: are they messaging safety to your market (in-person or on-line…don’t forget that even if you are only dealing with customers on-line they still care that your employees are safe). And third: do you have the right number of staff?
How often to you need to assess...I strongly suggest you use your monthly P&L as the minimum time frame.
Now that you have your assessment you need to respond. What’s working…keep that going. What needs to change…change it. Stay nimble. Keep trying. Keep pivoting. Make the hard calls. And get creative.
I can understand if it feels a bit overwhelming to be constantly assessing and responding but this is the new business necessity. And there is also opportunity in this process. I have seen some amazing and inspiring pivots.
And we continue, at VtSBDC to be here with you every day…so reach out…Debra
Vermont PTAC, Counselor: Ed Williams
Springfield: Mon., Tues., Fri., 802-885-3061 Brattleboro: Wed., Thurs., 802-257-7731
Date: 10/27/20
Time: 10:00 AM - 11:00 AM (EDT)
Status: Open - 9 places remaining
Registration Deadline: 10/27/20 9:00 AM (EDT)
Fee: No Fee
Program Format: Webinar
Training Topics: Government Contracting, Selling to Government
Description:
The Vermont Procurement Technical Assistance Center (VT PTAC) is a government-funded program assisting Vermont small businesses who want to sell their goods or services to the government, whether it is federal, state or local. Our procurement counselors are experienced in government contracting and provide a wide range of free services, including resources, training and individual counseling to enable Vermont businesses to successfully compete for government contracts. VT PTAC also provides networking and marketing opportunities. Our services are free and easy to access.
Do You Have What it Takes to Sell to the Government?
This workshop will describe the services PTAC offers and help you make the best value decision before proceeding further into the amazing process of government contracting. Wouldn’t you like to have one or more government agencies as clients for your business?
Presenter: Brenda Plastridge
Platform: GoToMeeting
A link to the webinar will be sent to registered attendees one day before the event.
Contact us for more information or click the Sign Up button at the top of the page to register.
Call us today at (802) 728-1432 or Email us at vmec@vmec.o
NATIONAL MANUFACTURING DAY
Friday, October 2, 2020
and
VERMONT MANUFACTURING MONTH
throughout OCTOBER!
Encourage Job Seekers and Students to attend
your MFG Day/ Month events!
National MFG Day is Friday, October 2, 2020 and Vermont will be celebrating manufacturing
the entire month!
Manufacturing Day/ Month (MFG DAY) is scheduled for Friday, October 2 and throughout the month of October. Please forward this email to friends, family, legislators and community leaders and encourage them to learn more about manufacturing and the many opportunities our manufacturers provide in the Green Mountain State! Locate a Vermont event using this link (type "Vermont, USA" into the search field) and plan to attend one or more events!
As of this writing, the following organizations have graciously agreed to open their doors, whether virtually or in-person, to the public: American Precision Museum, Maple Landmark Woodcraft and Vermont Adult Learning.
SRDC Staff
Bob Flint,
Executive Director
Paul Kowalski,
Senior Project Manager
Heather Hartford,
Assistant Director
Sandy Clifford,
Office Manager
Cynthia Porter,
Finance Manager
Amanda Porter,
Business Navigator
Larry Kraft, Business navigator
SRDC Board of Directors
Doug Gurney
Patti Putnam
Dale Williamson
Rick Bibens
Bob Kendall Nate Cobb
Todd Priestley
Ex-Officio Board Members
Caitlin Christiana
Kristi Morris
Tom Kennedy
Main Supporters
Town of Springfield
Town of Chester
Town of Windsor
Vermont Agency of Commerce and Community Development
Members Acrylic Design
All Seasons Constr.
Berkshire Bank
Bibens Home Center
Black River Produce
Community Bank
Countryside Alarm
Drew's Organics
Dufresne Group
Efficiency Vermont
Graham & Verof, PC CPA
Green Mountain Power
Gurney Bros. Constr.
HB Energy Solutions
IVEK
JELD - WEN
Kelley Sales & Service
Lawrence & Lober Electric Services
Lamb & McNaughton, PC
Lawrence & Wheeler
Lovejoy Tool
Mascoma Savings Bank
NewsBank
Okemo Mountain Resort
Okemo Valley Chamber of Commerce
Peoples United Bank
Image - Tek Mfg.
River Valley Credit Union
Springfield Automart
Springfield Hospital
Springfield Printing
Springfield Realty
Town of Cavendish
Vermont Packing House
Vermont Timber Works
Von Bargen's Jewelry
VTel
WIC
Winstanley Enterprises, LLC
Wright Construction
From our Members
Graham & Graham became Graham & Veroff on May 1st with the shareholder addition of Steven M. Veroff, CPA (NH & VT).
Steve is a graduate of Northeastern University with over twenty years of public accounting experience. Ten of these years have been as the Director of Assurance Services for Graham & Graham. The other years Steve was a Senior Manager with two of the largest CPA firms in the world, in a variety of Assurance, Tax and Employee Benefit positions.
Jeffrey Graham, CPA, CFF, CSEP
Managing Officer and President
One Credit Union CEO Named Board Chairman of Make A Wish Vermont
One Credit Union’s CEO Brett Smith was recently named Chairman of the Board for Make A Wish Vermont. Brett, a lifelong resident of Vermont, grew up in Hartford and now lives in Thetford with his wife Kati and two dogs, Chance and Millie. Brett has served on the Make-A-Wish Board for three years, during which time he has encouraged and supported fundraising campaigns across all One Credit Union locations, raising over $20,000 for the non-profit with contributions from employees and members. As Board Chair Brett hopes to continue to broaden awareness of Make A Wish across all of Vermont in order to help as many children as possible and to deliver on the non-profit’s mission to create life-changing wishes for children with critical illnesses. “One Credit Union is proud to support Make A Wish. As Board Chair, I look forward to inspiring others to experience how rewarding it is to make a difference in the lives of these kids. I am humbled by their strength and fortitude.”
Efficiency Vermont announced a suite of changes to its loan programs in direct response to the economic downturn caused by the COVID-19 pandemic. The changes make more money available to help = businesses move forward with energy efficiency projects and reduce overhead costs during this time of economic uncertainty.
“At a time when so many Vermonters have lost work and businesses are struggling to restart, affordable financing options can provide a bridge that allows energy projects to move ahead, saving customers money on bills and stimulating economic activity,” said Efficiency Vermont Director Rebecca Foster. “We’ve redesigned our financing offers to help make sure that customers get all the support they need to complete efficiency projects and help our state’s retailers, distributors, and contractors get back to work.”
Efficiency Vermont estimates that the changes to the loan programs will contribute to more than $2 million of investment in energy efficiency projects and equipment between now and the end of 2020. In addition to the financing updates, Efficiency Vermont will be announcing new incentive programs in the coming weeks to help farmers, businesses, and nonprofits reduce their energy use and save money.
Instant energy savings
Efficiency Vermont understands that cash flow is a top concern for small- and medium-sized businesses even in the best economic times. As businesses seek to restart after months of being shut down, that concern is amplified. To address this, Efficiency Vermont is offering payment deferrals for up to four months for its Business Energy Loan. Interest rates from 3.5%-5.5% are available on loan amounts of up to $50,000, with as little as $0 down payment.
By deferring payments, businesses can generate energy savings that go right to their bottom lines for four months, and loans can often be structured so that payments are covered by the monthly energy savings going forward.
“We have heard from a number of small businesses who are anxious to help contractors get back to work as soon as they have the financial wherewithal to invest in projects,” said Gregory Huysman of VSECU, Efficiency Vermont’s lending partner for the Business Energy Loan program. “By making Business Energy Loans straightforward and affordable through our partnership with Efficiency Vermont, businesses will have another tool to turn that community spirit into action.”
Popular projects for local businesses
Businesses -- including farms, non-profits, and owners of multifamily rental housing -- can use the Business Energy Loan for a wide range of energy efficiency improvements, some of the most popular of which include:
• Commercial kitchen equipment and refrigeration
• HVAC equipment and system upgrades to help improve indoor air quality and promote health and safety of staff and customers
• Commercial lighting
• Insulation and air sealing
• Cold climate heat pumps for space heating and cooling
The Business Energy Loan is available now to qualified customers through the end of 2020.
About Efficiency Vermont
Efficiency Vermont is helping our state transition to a more affordable and cleaner future. Since 2000, Efficiency Vermont has brought Vermonters together to reduce the cost of energy. We work with our partners to provide incentives, technical advice, and efficient products to help customers save money, and lower carbon emissions. For more information, contact Efficiency Vermont at (888) 921-5990 or visit www.efficiencyvermont.com
