RUTLAND—The Rutland City Board of Aldermen approved a request from College of St. Joseph (CSJ) to waive a substantial initial water allocation fee and to stabilize the college’s water and sewer bill over the first five years of the college’s expanded usage. CSJ is anticipating a need for a new dorm and dining hall, as well as changes to pathways and entryways in the next several years.
The planned expansion is expected to create 29 new jobs, according to CSJ’s application.
The Community and Economic Development Committee (CEDC) unanimously voted earlier in the month to recommend that the Aldermen approve the deal.
The city has adopted a number of business incentive policies over the past several years, which can serve to lower initial costs and foster business growth and expansion for both new and existing businesses. These include the the Water and Wastewater Rate Reduction Incentive, property tax stabilization policies, and other innovative business incentive programs.
The Water/Wastewater Rate Reduction Incentive awarded to CSJ was developed last year as a means of reducing costs for qualifying businesses utilizing more than 1,000 gallons per day. The incentive takes advantage of Rutland City’s robust water and wastewater infrastructure and is a unique benefit the city can offer to new high-volume water users.
“The water usage incentive was developed to encourage just the type of investment CSJ is currently planning. The city looks forward to continuing to support and encourage the college, and other new businesses, to invest and grow in Rutland City,” said Rutland City Mayor Chris Louras.
“We are thrilled to be able to assist College of St. Joseph in their expansion plans. Rutland City strives to be the most business friendly destination in Vermont and this is an example of our willingness to help new or existing businesses to grow and succeed,” said Brennan Duffy, Rutland Redevelopment Authority executive director. The RRA serves as the economic development entity for Rutland City and works to facilitate growth and expansion for Rutland businesses.
“The planned investment being considered by CSJ will have a long term positive benefit to the city as new students and positions are created. We are pleased to be able to assist the college and allow their expansion planning process to continue,” said Board of Aldermen President William Notte. No timeline has yet been set for the expansion.