It’s been no secret that Vermont has been struggling with things like workforce development, the opioid epidemic, and college closures. These issues impact not only those who live here but also businesses like our own. That’s why National Life has joined the Federal Reserve Bank of Boston to launch the Working Communities Challenge.
The program was announced at a press conference on Wednesday. Currently underway in other New England states as the Working Cities Challenge, the Boston Fed chose to roll it out in Vermont with a focus on supporting rural areas that need help to improve their economic vitality. Communities will be encouraged to apply to the Challenge through a RFP process and with the strategic help of Boston Fed resources. Six proposals will then be chosen for planning grants in the range of $10,000-15,000 . Those six will then be asked to create a long term strategic vision. Three of the six will be selected to receive a larger three-year grant to execute that vision.
A team of national and local funders, including the National Life Group Foundation, are teaming up to provide donations that will fund the grants.
Photo at top: Ted Brady, left, Vermont deputy secretary of commerce, and Stephen Michon, right, of the Boston Federal Reserve, speak at a news conference discussing the challenge.