New Programs for VT Defense Businesses
Office of Economic Adjustment Defense Industry Diversification Programs
Vermont companies that do business with the U.S. Department of Defense (DoD) are now eligible for workforce training, cybersecurity and capability-building programs through grants administered by the VT Department of Economic Development (ACCD). The ACCD Accelerating Growth & Innovation in the Defense Industry Supply Chain program is launching several new initiatives to help VT businesses that have been impacted by DoDs spending reductions over recent years, as well as support the larger regional defense industry in New England, thanks to this new grant funding from the DoD’s Office of Economic Adjustment (OEA) in the following areas:
Businesses impacted by DoD spending reductions will be offered a business assessment to identify growth areas where gaining additional skills could improve business value and diversify revenues. Additional rounds of in-depth training and a longer-term diversification pilot program is also available.
A new organization, the New England Regional Defense Industry Collaboration (NERDIC), is being formed to aid small and medium-sized defense-related businesses in meeting new cybersecurity requirements in the defense industry supply chain. A trusted supplier network will also be created to make it easier for large defense contractors to locate smaller suppliers that are able to meet their production, certification and process requirements.
Defense-related precision metalworking businesses located in Vermont will be given access to technologies such as deposition printing to help expand their skills and remain competitive in today’s market by employing these capabilities for rapid prototyping in both the defense and commercial sectors.
To qualify for assistance for any of these programs, the DoD must have been the ultimate recipient of products and/or services totaling at least 10% of a company’s sales in at least one of the last 5 years. Grant funds will be used to identify potential participants, to administer assessments and to provide training. No funds can be provided directly to participating businesses and funds may not be used for marketing, entertainment, capital assets or other physical assets. The VT Department of Economic Development (DED) is looking for interested businesses. If your business may qualify, or if you know of another business that may, please let them know. It is hoped this program will impact on the VT economy. Click HERE for more info.
The mission of the U.S. Department of Defense (DoD) Office of Economic Adjustment (OEA) is to support and build relationships with communities impacted by defense program changes by focusing on developing community adjustment strategies. These relationships are intended to elevate the technological knowledge & sophistication of defense-related small & medium-sized manufacturers, improving their competitiveness, ability to innovate, and overall value to the DoD.