RUTLAND—In response to recent restructuring at Castleton University, Rutland Economic Development Corporation (REDC) announced March 1 that the university will end the current colocation of services with REDC in downtown Rutland.
The agreement between REDC and CU calls for a 90-day written notice between parties, which has been executed. Under the agreement, Lyle Jepson, who also serves as the executive director of REDC, has served as dean of entrepreneurial programs at Castleton University. In a statement released by the university, it was noted that “Lyle Jepson is Castleton’s dean of entrepreneurial programs and will remain in that role through a 90-day transition period as the university moves away from its formal partnership with REDC. We anticipate continued work with REDC and Lyle,
long after the formal relationship ends, building off the positive momentum the partnership has created thus far for the university and for the Rutland region.”
As executive director of REDC, Jepson stated, “Our goal is to support the university so that it can quickly succeed in restructuring and continue to be a strong economic partner. Rutland Economic Development Corporation will support the university, as we do all of our partners, in ways that will strengthen our local and regional workforce. Our work at REDC will continue in earnest as we work to grow our population, increase the pool of skilled workforce, support our region’s business and industry, and create relationships that will strengthen each of the communities that we serve in Rutland County.”
John Russell III, president of the REDC board, pointed out, “This is an opportunity to reshape our delivery model and renew the positive energy that is moving the region forward. REDC’s structural and financial position has never been stronger, and we look forward to continuing a collaborative effort with the university as we move forward with our common goal of supporting the potential and growth of the region we call home.”