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Vermont Statutes Title 24. Municipal and County Government, § 2787. Economic development strategy; deference to regional plans; CEDS

Current as of January 01, 2024 | Updated by Findlaw Staff

In the event a major employer in an economic region announces a closure, relocation, or other significant action that will impact directly and indirectly jobs or wages in the region, and a regional planning commission has adopted a regional plan pursuant to section 4348 of this title or a Comprehensive Economic Development Strategy (CEDS) approved by the U.S. Economic Development Administration, or both, and the plan or CEDS, or both, includes mitigation strategies to address substantial local and regional economic and fiscal challenges related to that employer, including closure, relocation, or reduction in workforce, then:

(1) the Executive Branch shall defer to the regional plan and CEDS when using or distributing funds or other resources meant to mitigate anticipated local and regional economic and fiscal challenges, or shall provide the regional planning commission for the region with its basis for not deferring to the plan and the CEDS; and

(2) the Executive Branch shall involve the regional planning commission and regional development corporation for the region in decisions regarding the use or distribution of those funds or resources.

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Cite this article: FindLaw.com - Vermont Statutes Title 24. Municipal and County Government, § 2787. Economic development strategy; deference to regional plans; CEDS - last updated January 01, 2024 | https://codes.findlaw.com/vt/title-24-municipal-and-county-government/vt-st-tit-24-sect-2787/

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