Central Vermont Economic Development Corporation

What Central Vermont Economic Development Corporation does

CVEDC (Central Vermont Economic Development Corporation) is a nonprofit regional development corporation organized in 1976 and headquartered at 1 National Life Drive in Montpelier, Vermont. It is one of twelve state-chartered RDCs in Vermont and serves 22 municipalities in Washington and Orange Counties with a mission of "attracting and retaining good wage-paying jobs for the citizens of Central Vermont." The organization directly serves small businesses — its primary customer segment — through a portfolio of free or low-cost services: business plan review and feasibility assessment, relocation assistance, nontraditional loans administered via USDA's Rural Microentrepreneur Assistance Program (RMAP), regulatory navigation, workforce training connections, and flood recovery support. Specialized programs include the Small Business Uplift (BIPOC/New American/low-income flood recovery funded by Phish's Waterwheel Foundation), BEGAP technical assistance (statewide flood grant support), wage-subsidized internship cohorts in partnership with Norwich University and UVM, and the annual Central Vermont Job Fair. The organization operates with 1-10 employees under a volunteer Board of Directors comprised of local business owners, state representatives, lenders, and municipal officials representing 22 member communities.

Revenue mechanics are tripartite: (1) annual membership dues from dues-paying member businesses on a subscription basis; (2) government funding from the State of Vermont (via the Agency of Commerce and Community Development) and municipal contributions from the 22 served communities; and (3) grant administration revenue including the Revolving Loan Fund, BEGAP technical assistance, and internship wage subsidies. GTM is sales-led with direct outreach: in-person services at the Montpelier office and on-site at businesses, supplemented by a monthly newsletter, blog content, community events including town meetings, and the 48th Annual Meeting. Distribution is regional, non-digital, and relationship-driven, with strategic partnerships extending reach to Norwich University, UVM, Vermont Department of Labor, USDA Rural Development, and the Central Vermont Regional Planning Commission. In December 2025 the organization entered a leadership transition when former Executive Director Melissa Bounty was arrested on embezzlement charges; Fred Kenney was appointed Interim Executive Director and the Board is actively recruiting a permanent successor.

Name

Central Vermont Economic Development Corporation

Legal name

Central Vermont Economic Development Corporation

Website

https://centralvermont.org

Company type

Private

Founded year

1976

Operating status

Operating

Headcount range

1–10 employees

Short description

CVEDC is a 1976-founded Vermont nonprofit regional development corporation serving 22 municipalities in Washington and Orange Counties with free or low-cost services including business development, USDA RMAP loans, workforce training, regulatory assistance, and flood recovery programs for small businesses.

Ownership category

akta.pro rank

Headquarters

HQ city

Montpelier

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Membership Dues: CVEDC generates revenue through annual dues from member businesses, which helps fund programming and operations.
2. Government Funding: Primary funding comes from the State of Vermont and municipal contributions from the 22 served communities.
3. Grant Administration: CVEDC administers various grant programs including the Revolving Loan Fund, BEGAP technical assistance, and internship wage subsidies.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Central Vermont Economic Development Corporation (CVEDC) is a nonprofit regional development corporation providing business development assistance, nontraditional business loans through USDA's Rural Microentrepreneur Assistance Program (RMAP), workforce training connections, regulatory navigation, relocation services, and grant program administration to small businesses and municipalities in Washington and Orange Counties, Vermont.

Product overview

CVEDC is a nonprofit regional development corporation offering economic development services as a unified offering rather than a modular product platform. The organization provides business development assistance, loan programs, workforce training, regulatory guidance, and grant administration services. Core services include business plan review and feasibility assessment, relocation assistance, nontraditional business loans through USDA's Rural Microentrepreneur Assistance Program (RMAP), regulatory navigation, workforce training coordination, and a Revolving Loan Fund (RLF). Additional programs include the Small Business Technical Assistance Exchange, BEGAP flood recovery grant technical assistance, internship cohort programs with universities, and annual job fair hosting.

Differentiator

Problem solved

Functional benefit

Products and services

• Business + Growth Development One-on-one business plan review, feasibility assessment, and sustainable growth guidance for new and existing small businesses in Central Vermont, delivered by CVEDC staff.
• Relocation Services Assistance for businesses looking to relocate to or expand within Vermont, providing access to commercial property listings and insider connections to property owners in the region.
• Revolving Loan Fund (RLF) Nontraditional working capital and smaller loans for existing small businesses, federally-backed through USDA's Rural Microentrepreneur Assistance Program (RMAP), with grant-funded technical assistance for borrowers.
• Regulatory Assistance + Education Guidance navigating local, state, and federal regulations and programs, distilling complex requirements and acronyms into actionable information for small businesses.
• Workforce Training + Development Connections to a variety of programs that offset the cost of employee education, training, and skill development for small business employers in Central Vermont.
• Small Business Uplift Program Flood recovery program supporting BIPOC, New American, and low-income business owners impacted by the July 2023 flooding, providing professional services including photography, marketing, and restaurant consulting.
• Norwich University Internship Cohort Wage-subsidized internship program placing students with employers in Washington and Orange Counties, providing employers with wage subsidies up to $20/hour for up to 120 hours plus gas mileage reimbursement, paired with programming for both interns and employers.
• BEGAP Technical Assistance Statewide technical assistance provider for the Business Emergency Grant Assistance Program (BEGAP), helping farms and businesses apply for flood recovery grants.
• Central Vermont Job Fair Annual job fair hosted in partnership with the Vermont Department of Labor and HireAbility, connecting Central Vermont employers with job seekers.
• Business Membership Annual dues-paying membership program for businesses that funds CVEDC programming and operations; membership has doubled since 2021.

Quantifiable outcome

• Small Business Technical Assistance Exchange funded 209 projects for small businesses statewide
• +2 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and minor.

• Norwich UniversitycoreStrategic or Co-development Partner · 4 April 2024CVEDC partners with Norwich University on a 2024 internship program funded by a $75,000 Vermont Department of Labor grant. The program supports 80 students with wage subsidies up to $20/hour for up to 120 hours, plus gas mileage reimbursement. Programming supports both interns and employers.
• Vermont Department of LaborcoreGTM or Marketing Partner · 4 April 2024VDOL awarded CVEDC a $75,000 Work Based Learning & Training Grant to fund the 2024 internship program. VDOL also partners with CVEDC on the annual Central Vermont Job Fair.
• University of Vermont Office of EngagementcoreStrategic or Co-development Partner · 17 March 2023CVEDC partnered with UVM's Office of Engagement to pilot a summer internship program linking UVM students with Central Vermont employers. The program provides professional development workshops, intern wage subsidies, and addresses barriers faced by intern hosts.
• Central Vermont Regional Planning CommissioncoreStrategic or Co-development PartnerCVEDC partners with CVRPC on the Regional Project Priority List and Comprehensive Economic Development Strategy (CEDS) for West Central Vermont.
• West Central Vermont CEDS PartnershipminorStrategic or Co-development PartnerCVEDC participates in the West Central Vermont CEDS covering Addison, Chittenden, Rutland, Washington Counties and part of Orange County for regional economic development planning.
• Vermont Manufacturing Extension Center (VMEC)minorStrategic or Co-development PartnerCVEDC partners with VMEC and other organizations on Advanced Manufacturing Day events and workforce development initiatives.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Vermont Sustainable Jobs Fund: Vermont state-funded nonprofit delivering business assistance, technical support, and grant programs targeting agriculture, food systems, forest products, and renewable energy. Overlaps with CVEDC's small business development and grant administration mission.
• Vermont Community Foundation: Statewide grantmaking foundation that funds many of the same community economic development and small business recovery initiatives CVEDC participates in. Comparable as a nonprofit funder/administrator in the Vermont small business ecosystem.
• Vermont Small Business Development Center (VtSBDC): Statewide SBA-affiliated nonprofit providing no-cost business advising, training, and resources to Vermont small businesses. Overlaps with CVEDC's business development and regulatory navigation services but operates statewide and with deeper SBA program ties.

Regional players

• Vermont Manufacturing Extension Center (VMEC): Vermont MEP partner organization focused on manufacturing growth, workforce, and continuous improvement. Already partners with CVEDC on Advanced Manufacturing Day events; comparable as a nonprofit economic development intermediary with a vertical specialization.
• Northeastern Vermont Development Association: Regional planning and economic development organization serving Vermont's Northeast Kingdom. Comparable as a Vermont regional development intermediary, though broader in scope (planning, transportation, economic development).

Direct peers

• Addison County Economic Development Corporation: Sister nonprofit regional development corporation in Vermont serving Addison County. Shares CVEDC's state-chartered RDC mandate, small staff model, and funding mix from state, municipal, and federal sources; Fred Kenney led this organization until mid-2025.
• Green Mountain Economic Development Corporation: One of Vermont's twelve nonprofit regional development corporations, providing business development, lending, and workforce programming to a different county. Directly comparable in mandate, scale, and service mix to CVEDC.
• Central Vermont Chamber of Commerce: Regional business membership organization covering the same Central Vermont geography as CVEDC. Comparable business-membership funding model and overlapping member base, with the Central Vermont Chamber holding an ex-officio seat on CVEDC's board.

Others

• USDA Rural Development (Vermont Office): Federal funder that channels RMAP and related rural business capital through intermediaries like CVEDC. Relevant as the upstream capital source for CVEDC's Revolving Loan Fund rather than a direct competitor.

Emerging players

• Opportunity Zones economic development intermediaries: Broader class of nonprofit economic development intermediaries operating in rural U.S. geographies with overlapping mandates (business assistance, lending, workforce). Provided as a category reference since no single dominant private peer exists nationally.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/central-vermont-economic-development-corporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

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

Frequently asked questions about Central Vermont Economic Development Corporation