Green Mountain Power helps boost economic and business development in Rutland County

27 July 2012

RUTLAND, Vt. --- Following through on commitments related to the merger with Central Vermont Public Service,Green Mountain Power today presented checks for $50,000 each to the Downtown Rutland Partnership and the Rutland Economic Development Corp. to help bolster economic and business development in the Rutland area.
“Green Mountain Power appreciates the strong roots CVPS built in the Rutland area over many years and we’re fully committed to continuing and expanding on its tradition of serving the Rutland community in a variety of ways,” said Mary Powell, president and CEO of Green Mountain Power. “Supporting the work of the Downtown Rutland Partnership and Rutland Economic Development Corp. is a direct continuation of that tradition.”
As part of merger negotiations, GMP and CVPS made commitments to create a $100,000 “Open for Business Fund” at the Downtown Rutland Partnership and a $100,000 “Green Growth Fund” at the Rutland Economic Development Corp. Prior to the merger closing, CVPS awarded an initial $50,000 to each organization, and GMP made the same payments today.
Downtown Rutland Partnership’s “Open for Business Fund” will help improve storefronts and provide incentive funds for downtown business recruitment.
“GMP has already proven to be a great partner for the partnership,” Executive Director Michael Coppinger said. “We look forward to working closely with GMP as the company looks to make a substantial investment in the community by locating its planned Energy Innovation Center downtown, and the funds received today will help us bring other business into downtown as well.”
The “Green Growth Fund” will allow REDC to provide additional assistance to ventures generating jobs in new technology fields, with a focus on those that provide a positive impact on the green industry.
“Rarely do we have discretionary funds available for innovative new approaches to economic development,” said Jamie Stewart, executive director of REDC. “This support from GMP will allow us to create programming that will help Rutland County be a leader in new economy jobs and enhance the lives of working Vermonters in our region.”
In addition to GMP’s contributions to the “Open for Business Fund” and “Green Growth Fund,” the utility has made numerous other commitments to the Rutland area including: refraining from layoffs or mandatory relocations of former CVPS employees; locating its Headquarters for Operations in Rutland Town and its Energy Innovation Center in downtown Rutland; and establishing a solar city program in Rutland.
“We’re excited to be able to help stimulate economic growth in the Rutland area, which will benefit many of our customers in the long run,” Powell said. “It is a key component of Green Mountain Power’s corporate ethic to give back to the communities we serve, and this is a perfect opportunity to do just that.”
About Green Mountain Power
Green Mountain Power (www.greenmountainpower.com) transmits, distributes and sells electricity in the State of Vermont. It serves more than 250,000 customers.