Montpelier, VT – In April, State Treasurer Mike Pieciak announced an $85 million expansion of the “10% in Vermont” local investment program, which authorizes the Treasurer to invest up to 10% of the State’s average daily cash balance for economic development in Vermont. Today he reminded Vermonters that there is one week until the June 1st, 2023 application deadline for the first round of local investment proposals. A subsequent application round is planned for the fall.
“The Treasurer’s Office team has spent the last several weeks raising awareness of this expanded initiative and answering thoughtful questions from prospective applicants. As we have done that, the need for low-interest capital dollars in the prioritized areas of housing, climate, and social equity has only become more clear,” said Treasurer Pieciak. “I am looking forward to reviewing the applications we receive alongside the Local Investment Advisory Committee and deploying the State’s dollars as soon as possible to these critical sectors of the local economy.”
Additional information, including a link to the recording of the April 17, 2023 webinar and application material, is available on the Treasurer’s website: www.vermonttreasurer.gov/content/cash/local-investment-advisory-committee.
Applications or questions about the program should be submitted via email to TRE.LIAC@vermont.gov. Nonprofits, instrumentalities of the State, municipalities, and similarly situated organizations are encouraged to apply.