|NEK Economic Development / EB-5 Projects
Q-Burke Mountain Hotel
EB-5 partners continue to welcome new investors to the project and a successful trip to Vietnam was just completed last week. An announcement on the hotel's opening is expected at the end of March.
Jay Peak Resort
Designs for the indoor Mountain Recreation Center are complete and permits are in place for construction to begin this year. Construction on the Stateside Cottages will resume in the Summer.
Final designs for the facility are nearly complete. Ground preparation and underground utilities are in place. Construction is expected to start in April with a targeted opening date in Autumn 2017 (the original timeline called for the project to be completed in the fall of 2016). The developer is working with VT State Colleges to develop workforce training initiatives.
NEK International Airport
- A pre-construction meeting for the Taxiway is scheduled for mid-March.
- Installation of the Fuel Farm will be complete in April.
- Construction of septic and water upgrades is scheduled in May.
- Construction of the Snow Removal Building will begin in June.
- Designs for the new terminal facility have been submitted for review and approval. Once approved, the project will begin the Act 250 permitting process. Terminal construction is planned for the Fall.
- Contracts are being developed for potential users of a bonded warehouse facility on-site.
Employment & Training Opportunities:
NEK Employment Professionals Discuss Workplace Innovation & Opportunity Act (WIOA) -
The goal of the federal WIOA is to make sure that jobseekers have resources to develop diverse skills and connections that will allow them to meet the needs of employers -- and guarantee themselves a place in the local workforce. Representatives from the VT Department of Labor, NEK Learning Services, NVDA and other partner organizations in the region, met in February at Northeastern VT Regional Hospital to discuss ways to work together to help clients transition into the workforce by providing education, transportation and the tools they need in the job market. Employment experts emphasized the need to embed adult education into training programs, and identified a broad range of skills including basic literacy, math, effective communication, technological capability, and on-the-job training to achieve this end. Leadership and management training will also help to make workers eligible for promotion. For additional information about the recent renewal of the WIOA, and the meeting with partner organizations, contact the Department of Labor: Jane Fortin, NE Regional Manager firstname.lastname@example.org
, or Cindy Robillard, Regional Supervisor email@example.com
New Workforce Development Program at Lyndon State College
LSC is offering a Hospitality & Tourism Business Management Certification Program with innovative short-term courses developed by faculty and industry experts. Students and employees can earn certification training online, at the workplace, or in state-of-the-art classrooms at the college. American Hotel & Lodging Educational Institute Certification represents a high level of achievement in the management, marketing and operations of services, lodging, recreation, events, and other travel-related amenities. For more information, contact the Center for Rural Entrepreneurship, CREdirector@lsc.vsc.edu (802) 626-4867
and visit www.LyndonState.edu/Workforce
. This program is made possible by a grant from Northern Border Regional Commission.
CCV Job Hunt Helpers Offer Career Services at Libraries in St. Johnsbury & Newport - From March through May of this year, Community College of Vermont (CCV) Job Hunt Helpers will be available at the St. Johnsbury Athenaeum and Goodrich Memorial Library for six hours each week to offer career services to library patrons and job seekers. Job Hunt Helpers are CCV students trained to assist with computer-related job and career search tasks. The free program is aimed at anyone who needs to improve their computer skills to seek employment opportunities in the area, explore career options and job postings on the Internet, help locate education and training programs, establish e-mail and Facebook accounts, assist with cover letters and resume tips, and provide assistance with online job applications.
- Holly Lillis is assigned to help job seekers at the Goodrich Memorial Library in Newport, 202 Main Street. Contact the library at (802) 334-7902 for a schedule of her hours.
- Kim Payne will be at the St. Johnsbury Athenaeum, 1171 Main Street. Contact the library at (802) 748-8291 for dates and times.
Foreign Trade Zone #286
Duty Deferral in FTZs
In U.S. Foreign-Trade Zones, no duty payment is required on merchandise brought into a General-Purpose Foreign-Trade Zone or Subzone unless and until the goods are entered into the United States. These funds may be used as working capital to earn interest or be invested. This benefit is similar in concept to free trade zones in other countries. It can be especially important to companies with high volume imports or merchandise with high duty rates, such as textile products.
Duty Deferral for Production Equipment - for a manufacturing process
In general. Pursuant to section 81c(e) of the FTZ Act, merchandise that is admitted into a foreign-trade zone for use within such zone as production equipment or as parts for such equipment, shall not be subject to duty until such merchandise is completely assembled, installed, tested, and used in the production for which it was admitted. Payment of duty may be deferred until such equipment goes into use as production equipment as part of zone production activity, at which time the equipment shall be entered for consumption as completed equipment.
Definition of production equipment. Eligibility for this section is limited to equipment and parts of equipment destined for use in zone production (manufacturing) activity. Ineligible for treatment as production equipment are: general materials (that are used in the installation of production equipment or in the assembly of equipment); and materials used in the construction or modification of the plant that houses the production equipment.
Production equipment or parts that are not destined for use in zone production (manufacturing) activity shall be treated as normal merchandise eligible for standard zone-related benefits, provided the equipment is entered for consumption or exported prior to its use.
For additional information, please contact David Snedeker at 748-8303 or firstname.lastname@example.org
Economic Development Events:
Business Financing Roundtable in Newport - March 22nd, 1:00-3:00 pm, Emory Hebard State Building, 2nd floor Conference Room
Attend this free
public forum to learn of business financing options in the NEK. Presenters include U.S. Small Business Administration (SBA), VT Economic Development Authority (VEDA), VT Community Loan Fund, Community Capital of VT, USDA Rural Development, and Northern Community Investment Corporation (NCIC). The forum is hosted by NVDA. Please RSVP by March 18th to David Snedeker (802) 748-8303 email@example.com
or Karen Geraghty (802) 334-5861 firstname.lastname@example.org
Quebec-Friendly Business Seminar - March 23rd, 8:30-12:30
Hilton Hotel, Burlington
Quebec-Friendly Business is designed to empower Vermont retail, hospitality and businesses to better understand and serve this fast-growing market. The free
breakfast seminar is organized and hosted by the Aliance Francaise of the Lake Champlain Region in partnership with the Vermont-Quebec Enterprise Initiative. Guest speakers include Ernest Pomerleau. To preview agenda and register online, visit www.aflcr.org/event/quebec-friendly-business-seminar