About $1.5 million in development funds have been awarded to projects in Newport

About $1.5 million in development funds have been awarded to projects in Newport thanks to a Vermont settlement with a former ski resort owner accused of fraud involving foreign investors’ money. Extra consideration was given to properties and entities that showed they were adversely impacted by the fraud, Gov. Phil Scott’s office said Thursday. Among the recipients is the Northeast Kingdom Development Corporation, which received over $1 million to buy and renovate a former manufacturing facility. The corporation will lease much of the building to Track Inc., which expects to create 80 to 100 jobs over 10 years, officials said. The Northeast Kingdom Tasting Center received $79,500 for exterior and interior improvements. And $20,000 went to the Memphremagog Community Maritime to redevelop and repurpose the Gateway Center into a new tourism attraction and education center, officials said. Several other businesses also received grants. Scott said it was important to support recovery and growth in Newport and the surrounding area. “By working with community leaders, and targeting these grant funds for economic development, we can help Newport move further towards economic recovery and growth in the long term,” he said.

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https://www.compassvermont.com/businesscompass/newport-grant-programs-award-1-5-million-for-new-projects-and-improvements/article_cd6c54e8-901e-11ec-a08d-f3a9d96557fe.html