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Regional development corporations ask for $1.25 million to continue small‑business technical assistance exchange
Summary
Regional development corporations asked the House Commerce & Economic Development Committee for $1.25 million to continue a technical assistance exchange that connects small businesses with vetted local vendors and RDC navigators.
Melissa Bounty, executive director of Central Vermont Economic Development Corporation (an RDC), and other regional commissioners appeared before the House Commerce & Economic Development Committee to request renewal of the Small Business Technical Assistance Exchange. The RDCs said the program helps small businesses buy modest professional services — accounting, marketing, legal, websites — that the businesses often cannot afford or do not know how to procure.
Program performance: Bounty told the committee the most recent RDC deployment used $1,250,000 to support 209 projects and more than 500 participating vendor and recipient businesses. “The average is $3,400,” she said of grant size; the program also ran six workshops and assembled a vetted vendor list of more than 200 in‑state service providers. Bounty said the program was oversubscribed (about 700 applications for 183 spots in an earlier round), demonstrating demand.
How it works: RDC navigators coach business owners on appropriate uses of small grants and help them form lasting vendor relationships. The program includes outreach partners to reach underserved business communities and was adapted across three prior rounds — from rapid COVID response, to a Community Navigator pilot with CDBG funding, to the FY24 general‑fund model the RDCs say worked best.
Why the request: RDCs argued the exchange is cost‑effective, creates capacity for small businesses to scale, and supports in‑state professional services. The renewal request is for $1,250,000 to replicate the FY24 model that funded 209 projects and produced training workshops and vendor relationships.
Committee response and next steps: Members asked about program tweaks and partner rotation; RDCs said they would continue to refine outreach to under‑served areas and keep successful elements such as workshops and outreach partners. No formal action was recorded during the hearing.
What to watch: If funded, the RDCs plan to use navigators to expand outreach and build more durable relationships between small businesses and service providers in regions that were under‑represented in prior rounds.
