The Vermont Economic Development Authority (VEDA) Board of Directors approved $8.5 million in financing assistance to support manufacturing, business incubator and small business projects around the state. Total costs of the projects approved for VEDA financing are $15.6 million.These loans will help expand production capacity at several existing manufacturing facilities, said Jo Bradley. In addition, new incubator space will be created for entrepreneurs who have moved beyond the early stages of commercialization, and have begun manufacturing and producing new products and services.Approved for financing by the VEDA Board are: – Autumn Harp, Inc., Essex Junction Industrial revenue bond inducements totaling $4 million were approved by the Board, enabling Autumn Harp to pursue expansion plans for the company. Autumn Harp, founded in 1978, is a private label custom manufacturer of personal care and cosmetic products for major national and international brands. The company plans to maintain operations in Bristol and will expand to a second location in Essex Junction to ensure adequate capacity for continued product diversification, and a growing customer base. Autumn Harp estimates the planned $4.6 million project would increase employment at both facilities by 50 employees over a three year period. – Vermont Center for Emerging Technologies, Inc., Colchester Financing of $1.1 million was approved, allowing the non-profit Vermont Center for Emerging Technologies (VCET) to develop a second business incubator facility in Colchester. Since 2005, VCET has operated a high-technology business incubator on a portion of the former Trinity College campus in Burlington, property now owned by the University of Vermont. The $3.1 million expansion project planned by VCET involves the purchase of 2.2 acres and a 21,000 square foot building in Colchester. The new space will provide incubator facilities to serve companies that have moved beyond initial commercialization and have begun manufacturing and producing products and services. It is expected that jobs will increase over three years from 13 at the current facility to 35 positions housed in both facilities. – Vermont Precision Woodworks, Morrisville The Board renewed a loan guarantee for up to 32% of a $1.25 million Union Bank working capital line of credit for Vermont Precision Woodworks. The VEDA-insured Union Bank line of credit will help the wood furniture manufacturer maintain its recent growth in employment at its Morrisville plant. – Vermont Quality Wood Products, Brandon The Board approved a 6-month renewal of $300,000 in mortgage insurance to guarantee a KeyBank working capital line of credit to owners of the former Vermont Tubbs furniture manufacturing firm. Vermont Quality Wood Products purchased the assets of Vermont Tubbs in 2003 as Tubbs was poised to liquidate the company and close the business. Vermont Quality Wood Products has continued operations since that date, and currently employs 105 individuals. – SecurShred, South Burlington An approved $306,000 loan will allow SecurShred, a growing document destruction company, to purchase a 10,000 square foot warehouse in South Burlington. The $850,000 project will enable SecurShred to increase its capacity and efficiency in the shredding of paper and electronic media for companies in Vermont, New Hampshire, Massachusetts and New York. SecurShred employs 10, and expects to increase that number to 14 within three years of the expansion.In addition, $1.9 million in Vermont SBA 504 Program loans were approved to support $5 million in business real estate and construction project costs. And, small business loans totaling $472,550 were approved by the Board.VEDAs mission is to promote economic prosperity in Vermont by providing financial assistance to eligible businesses, including manufacturing, agricultural, and travel and tourism enterprises. Since its inception in 1974, VEDA has made financing commitments totaling over $1.2 billion. For more information about VEDA, visit www.veda.org(link is external) or call 802-828-5627.
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Star Lager Lift Nigerian Football with Arsenal Trainers Coaching Clinic
The coaching clinic was a purely technical football session was organized to aid knowledge transfer between Star lager’s foreign football club partners and the Nigerian professional football league to advance the quality of Nigerian football.While giving a closing remark, The Head, Government Relations, Nigerian Breweries, Vivian Ikem said; “We are happy about the impact we have been able to make in the past few days. Football is important to us as a brand and to our consumers. We are delighted to have been a part of the coaching clinic and we are sure the coaches have been able to learn new skills. We particularly thank the coaches for giving us their time during the training sessions as well as the NPFL who helped make this activity a successâ€.The Chairman of the League Management Company, Shehu Dikko, also stated that:“It’s been a pleasure to host the coaches and I have been impressed with the skills and techniques that have been exchanged in the course of the workshop. Each session was tailor-made to suit the topics at hand. We are really encouraged to do more capacity building clinics for the Nigerian League.â€The Star lager- NPFL partnership which was signed in 2016 has since recorded a number of exchanges between the two parties which includes the Star Lager Beer’s fan park which has visited a number of stadia across the country alongside the NPFL, further engaging with the fans’ enthusiasm in support of the progress for Nigerian football. Star Lager is the official beer partner of the Nigerian Professional Football League (NPFL).Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Over the course of the week, Star Lager Beer brought over 30 coaches to Abuja for a Knowledge exchange workshop facilitated between the brand two partners, Arsenal and the Nigerian Professional football League. The workshop was aimed at sharing and transferring of knowledge between the two parties.The workshop which, is a product of Star’s Partnership with the NPFL, held at the National stadium in Abuja and it saw an exchange of coaching techniques and methodology between the Arsenal and NPFL personnel. The topics from the training ranged from both practical and theoretical and it also included using the Abuja FC 19-plus football team as part of the workshop practical.