Millions in financing approved for agricultural development in Vermont
"VEDA is pleased to provide financing assistance to several manufacturing businesses that are expanding and creating new jobs for Vermonters," said Jo Bradley, VEDA's Chief Executive Officer. "In addition, agricultural, energy and small business projects will go forward with financing assistance from VEDA."
Agricultural loans totaling nearly $2.5 million also were approved through the Authority's agricultural loan program, the Vermont Agricultural Credit Corporation (VACC), which provides financing for Vermont farmers, agricultural facilities and forest product businesses. Agricultural loan approvals include:
Champlain Orchards, Shoreham - VACC approved financing to help Champlain Orchards consolidate debt associated with recent improvements to their apple storage facility, and finance new real estate improvements. Champlain Orchards has consistently expanded since production of its first apple crop in 2000. In addition to apples, the farm grows European and Asian pears, tart cherries, plums, peaches, and organic pick-your-own berries. The farm also makes and sells ice and hard cider, pies, cider donuts, apple butter, and apple cider syrup.
Energy Financing of $413,492 was approved for several commercial and agricultural solar energy installation projects which together will produce enough renewable electricity to power the equivalent of 181 average households, and reduce CO2 emissions by 726 tons each year.
source: vermontbiz.com
