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GBIC warns of shrinking industrial land and urges renewed infrastructure funding
Summary
Frank Coffey told the Vermont House Commerce & Economic Development Committee that Chittenden County and northwest Vermont face a shortfall of ready-to-build industrial lots and urged lawmakers to consider recapitalizing rural industrial development programs and supporting TIF-style infrastructure financing.
Frank Coffey, executive director of the Greater Burlington Industrial Corporation, told the Vermont House Committee on Commerce & Economic Development on Feb. 6 that the region faces a shrinking supply of developed industrial land and that municipalities and regional development corporations lack the funding to acquire and infrastructure new industrial parks.
“We are down to probably 22, around 22, infrastructured industrial lots,” Coffey said of Chittenden County, warning that the shortage could push employers to locate outside the county. He said the last major…
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