REDC Provides Financing for Local Business Expansion

To help encourage and enhance business success in Rutland County, REDC provides businesses with fixed-rate loans through its Revolving Loan Fund.  REDC works extensively with local banks and financial institutions, often serving as the “gap financing piece” to help meet the unmet funding needs of area businesses.

Recently, REDC partnered with People’s Bank to finance the purchase of the headquarters for Wright Construction Company in Mount Holly. Formed in 1984, Wright Construction Company has earned a strong reputation as an industry leader providing a wide range of construction and construction-related services. This purchase will allow them to continue their growth as they transition to the next phase of their business.

“This move was the next logical step for our business and will allow us to continue the consistent growth we’ve experienced over the last several years,” said Joe Poston, co-owner of Wright Construction Company. “Structuring the financing for this type of project is always complicated, and without all of the financing partners working together this couldn’t have happened for us.  We’re excited to partner with REDC on this project.”

Loans are available for a wide range of initiatives, from working capital to installing new machinery or buying land and/or buildings.  As loans are repaid, they are reinvested by REDC in the form of new loans to other businesses. Learn more about REDC’s revolving loan fund at www.rutlandeconomy.com/lending, or call Tyler Richardson at 802-770-7067.

REDC to Continue Collaboration with Real Careers @ Rutland County Program in 2019

In 2018, REDC and the Rutland Region Workforce Investment Board (RRWIB) worked to collaborate on a pilot program called Real Careers @ Rutland County for high school students and young adults who have recently graduated to create and implement viable career plans in their home county of Rutland. In 2019, REDC, RRWIB, and Real Careers are looking ahead to continuing to work with students at two area high schools and in the community, totaling 31 young adults, while also accepting new applications.

REDC Annual Report (FY18)

REDC Annual Report (FY18)

To the Residents, Businesses, and Communities of Rutland County:

We extend our gratitude once again to you, our partners, for your continued work advancing the region. With your help, together our efforts have furthered the major strategies established for REDC centered around strengthening the support structure for new and existing businesses in Rutland County. The overarching theme of our strategic effort remains the same: to increase Rutland County’s population, specifically early- and mid-career professionals and skilled workers, to counter the current and projected trend of regional population decline and the resulting workforce challenges.