Springfield Regional Development Corp

What Springfield Regional Development Corp does

Springfield Regional Development Corporation (SRDC) is a private non-profit regional development corporation founded in 1992, headquartered at 14 Clinton Street Suite 7, Springfield, Vermont. It operates as the designated front door for economic development across 10 towns in Southern Windsor County, serving businesses of all sizes (from startups to established companies), entrepreneurs, regional employers, and job seekers. The organization delivers technical assistance, access to financing through revolving loan funds, workforce development resources, commercial property listings, and direct involvement in major redevelopment projects including the Park Street School/Black River Innovation Campus (BRIC) and the former Parks & Woolson site. Its community-led go-to-market approach leverages partnerships with the Vermont Small Business Development Center, River Valley Technical Center, Vermont Department of Labor, and the Federal Reserve Bank of Boston's Working Communities Challenge initiative.

SRDC's core offerings span business technical assistance, financing programs (Springfield Area Revolving Loan Fund capitalized by EDA CARES Act Recovery Assistance and other sources), commercial real estate listings, workforce development, and the Springfield Area Working Communities Challenge (SAWCC), a 3-year workforce participation initiative addressing transportation, childcare, housing, education, and recovery barriers. The organization also runs small business workshops in partnership with VtSBDC, a free 5-week Computer Skills for the Workplace digital literacy program, and manages the Park Street School/BRIC redevelopment converting a historic school into an entrepreneurship and innovation campus.

The revenue model is grant-funded rather than commercial; SRDC does not generate revenue from fees for its core services, which are provided at no cost to eligible businesses. Identified grant inflows total approximately $10.85 million across 2020-2024 from sources including the U.S. Economic Development Administration, HUD via Congressionally Directed Spending, Vermont Agency of Commerce & Community Development, Northern Borders Regional Commission, Vermont Community Foundation, and the Federal Reserve Bank of Boston. Most of these funds are project-restricted or pass-through (e.g., revolving loan capital, redevelopment project funding). Headcount is reported as 11-50 employees. The organization has no patents, proprietary software products, or disclosed AI/ML capabilities; its technology footprint centers on leveraging gigabit broadband infrastructure to support rural digital economy initiatives.

Name

Springfield Regional Development Corp

Legal name

Springfield Regional Development Corporation

Website

https://springfielddevelopment.org

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

11–50 employees

Short description

Springfield Regional Development Corporation (SRDC) is a non-profit regional development corporation serving 10 towns in Southern Windsor County, Vermont. Founded in 1992, it provides free business technical assistance, revolving loan fund financing, workforce development, and redevelopment project management for SMBs, entrepreneurs, and residents.

Ownership category

akta.pro rank

Product category

Regional Economic Development Services

NAICS

Administration of Housing Programs, Urban Planning, and Community Development (925), Administration of Urban Planning and Community and Rural Development (925120), Business, Professional, Labor, Political, and Similar Organizations (8139)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Services-Social Services (8300)

akta.pro primary industry

Economic Development & Business Licensing (Local) (BPAIACAN)

akta.pro secondary industries

State/Provincial Housing, Urban/Regional Planning & Community Development (BPAIABAM), Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC)

Keywords

• Economic development services
• Small business financing
• Workforce development programs
• Revolving loan funds
• Commercial property listings

Headquarters

HQ city

Springfield

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Grant Funding: SRDC operates as a nonprofit economic development corporation funded primarily through grants from federal and state sources including EDA CARES Act Recovery Assistance, Vermont Agency of Commerce & Community Development, Northern Borders Regional Commission, and Vermont Community Foundation. The organization also administers revolving loan funds capitalized through federal grants.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Springfield Regional Development Corporation (SRDC) is a non-profit regional development organization that serves as the 'front door' for economic development across 10 towns in Southern Windsor County, Vermont. It provides businesses of all sizes with technical assistance, access to financing through revolving loan funds, commercial property listings, workforce development programs, and direct involvement in major redevelopment projects such as the Park Street School/BRIC Building.

Product overview

Springfield Regional Development Corporation (SRDC) provides a comprehensive suite of economic development services for Southern Windsor County rather than a traditional tech product. Core offerings include business technical assistance, financing programs (revolving loan funds, EDA grants), commercial property listings, workforce development partnerships, and the Springfield Area Working Communities Challenge initiative. The organization also administers adult education programs including digital literacy training, hosts small business workshops, and manages redevelopment projects like the Black River Innovation Campus at the former Park Street School. SRDC serves as the regional front door for economic development, connecting businesses with resources from state agencies, workforce partners, and financial institutions.

Differentiator

Problem solved

Functional benefit

Products and services

• Business Assistance Services

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core and minor.

• Mt Ascutney Regional Commission (MARC)coreStrategic or Co-development PartnerKey strategic partner providing support and assistance with various Federal and State funding sources for redevelopment projects. Collaborated on Regional Priority Project process and Working Communities Challenge initiatives.
• River Valley Technical CentercoreStrategic or Co-development PartnerWorkforce development partner offering career and college readiness programs. Co-founded the 'Collaboratory' Makers Space initiative and hosts employment fairs. Key member of Working Communities Challenge Core Team.
• Springfield Regional Chamber of CommerceminorChannel Partner/ Reseller/ DistributorRegional chamber providing business networking, promotion of employment fairs, and collaborative economic development initiatives in Southern Windsor County.
• Vermont Small Business Development Center (VtSBDC)coreImplementation/ SI/ Consulting PartnerHosts local VtSBDC office providing no-cost confidential business advice and 'Start Your Own Business' workshops. SRDC serves as local point of contact for small business technical assistance.
• Southeast Vermont Transit (The MOOver)minorStrategic or Co-development PartnerTransit provider offering microtransit services in the Springfield region. Developed comprehensive Ride Guide and Microtransit App to address transportation barriers for employment. Partner in Transportation Taskforce.
• Center on Rural Innovation (CORI)coreStrategic or Co-development PartnerLeading national organization committed to helping rural economies succeed in the digital age. Led fundraising for Black River Innovation Campus (BRIC) and digital economy initiatives. Key partner in Springfield's economic development transformation.
• Vermont Adult LearningminorStrategic or Co-development PartnerEducation partner contributing to workforce development initiatives and digital literacy programs. Part of the Working Communities Challenge extended partner network.
• Community College of VermontminorStrategic or Co-development PartnerArea branch housed in Howard Dean Education Center in Springfield. Vermont's second largest college serving 5,000+ students. Partner in workforce education and development initiatives.
• Vermont Department of LaborcoreStrategic or Co-development PartnerState agency partner for workforce assistance, job creation, retention and recruitment, and labor market information. WCC Core Team member and sponsor of employment fair events.

Scale indicators6 records

Recent moves2 records

Expansion highlights6 records

Direct peers

• Green Mountain Economic Development Corporation: Regional economic development corporation in Vermont providing financing, business assistance, and workforce support to businesses. Operates with a similar model of grant administration, revolving loan funds, and site selection services to SRDC.
• Northeastern Vermont Development Association: Vermont regional development corporation providing economic development, planning, and community services across multiple towns in northeastern Vermont. Directly comparable regional development model and funding sources to SRDC.
• Lamoille Economic Development Corporation: Regional economic development corporation serving the Lamoille County region of Vermont with business assistance, financing, and workforce development programs. Mirrors SRDC's role as a regional 'front door' for economic development services.
• Addison County Economic Development Corporation: Vermont regional economic development corporation providing business assistance, revolving loan fund administration, and workforce programs to Addison County. Closely comparable structure, funding mix, and service portfolio to SRDC.
• Mt Ascutney Regional Commission (MARC): Vermont regional planning and development commission serving a multi-town area adjacent to SRDC. Both organizations provide regional coordination, administer state/federal programs, and partner on Working Communities Challenge initiatives — MARC is SRDC's most direct local counterpart.

Emerging players

• Center on Rural Innovation (CORI): National organization supporting rural communities in building digital economies. CORI is an SRDC partner on the Black River Innovation Campus and shares SRDC's mission of fostering rural tech-enabled economic development through innovation campus models.
• Vermont Community Foundation: Statewide community foundation providing philanthropic capital to Vermont nonprofits including SRDC ($300K investment for Park Street School). Operates as both a peer and a funder within the Vermont nonprofit economic development ecosystem.
• Vermont Sustainable Jobs Fund: Vermont-based nonprofit accelerating sustainable economic development through business assistance, technical support, and grant programs. Comparable non-profit model delivering economic development services within Vermont.
• Southeastern Vermont Community Action (SEVCA): Vermont community action agency addressing poverty through workforce development, housing, and energy assistance. Comparable to SRDC's SAWCC workforce barrier-reduction work and serves a similar rural Vermont demographic.

Broad incumbents

• USDA Rural Development (Vermont Office): Federal agency administering rural economic development grants, loans, and programs. SRDC regularly partners with and is partially funded by USDA-adjacent federal programs; USDA Rural Development operates as a broader incumbent in SRDC's space.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/springfield-regional-development-corporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors1 record

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Springfield Regional Development Corp