Council Authorizes $1.5 Million Of Incentives Under New ProgramMONTPELIER, Vt. The Vermont Economic Progress Council has approved more than $1.5 million in job creation incentives under the states new economic development program, including assistance to the new owners of Specialty Filaments.At its meeting last week, the Council reviewed and authorized the first incentives under the new Vermont Employment Growth Incentive (VEGI) program, making three companies eligible to receive up to $1,329,404 in job creation incentives and $240,496 in property tax incentives.We are very pleased that one of our first authorizations under the new Vermont Employment Growth Incentive program was to assist the Monahan Company in preserving the jobs at the former Specialty Filaments facility, said Karen Marshall, Chair of the Vermont Economic Progress Council. Vermonts economic incentive program is going to work to keep Vermonters at work in Middlebury.Monahan SFI, LLC, a subsidiary of the Thomas Monahan Company of Arcola, Illinois was given preliminary authorization for $758,806 in economic incentives to add new jobs and invest in new machinery and equipment at Specialty Filaments, which closed and laid off 175 employees earlier in the month.The new subsidiary purchased the assets of Specialty Filaments, Inc. in a bankruptcy auction. Monahan SFI, LLC will re-open the plant and re-hire most of the employees laid off during the recent plant closing, and will submit a more detailed application for a full review at a later date.Pad Print Machinery of Vermont, Inc. was authorized for $331,399 in economic incentives to add new jobs and invest in a new facility and machinery and equipment. The East Dorset company plans to create a new subsidiary, Ink Jet Machinery of Vermont, to develop and manufacture digital inkjet print head engines.The company had been considering several options other than creating the new subsidiary, including outsourcing production to China or growing only a few jobs within Pad Print Machinery of Vermont, said Marshall.Olympic Precision, Inc. was authorized for $239,199 in economic incentives to create new jobs and invest in equipment by building the Center for Precision Manufacturing, a Department of Defense-funded research and development facility.The company and the Town of Windsor were authorized for property tax stabilization with an estimated value of $240,946, and will collaborate with the Windsor Improvement Corporation to redevelop a currently unusable lot and build a facility to house the Center, which will be operated by Olympic Precision, Inc.Under reforms passed by the General Assembly and signed into law by Governor Jim Douglas last year, the economic incentives were authorized based on job creation and capital investments that must occur before the company receives payment.The prior program had companies earning tax credits that were applied against future tax liability.The Council approved the applications after reviewing nine guidelines and applying a rigorous cost-benefit analysis that showed that because of the economic activity that will be generated by these projects, even after payment of the incentives the State will realize a net increase in revenues of $1,441,885.The Council also determined that these projects would not occur or would occur in a significantly different and less desirable manner if not for the incentives being authorized.The Vermont Economic Progress Council is an independent board consisting of nine Vermont citizens appointed by the governor that considers applications to the states economic incentive programs.The Council is attached to the Vermont Agency of Commerce and Community Development, whose mission is to help Vermonters improve their quality of life and build strong communities.For more information, visit:http://www.thinkvermont.com/vepc/index.cfm(link is external)-30-
By Guillermo Saavedra/Diálogo September 24, 2020 On August 7, special agents from the Paraguayan National Anti-Drug Secretariat (SENAD, in Spanish) seized nearly 3 tons of hashish, in Capitán Bado, a city in Amambay department on the border with Brazil. The drug was bound for the neighboring country, the Paraguayan newspaper La Nación reported.Authorities seized the drug after intelligence reports raised the alarm about the existence of a camp and disclosed its location, the Paraguayan newspaper ABC Color reported. On site, agents found 3,600 packages of hashish. “The packages weighed 2,850 kilograms in total. At the campsite, we also found a long weapon and the necessary supplies for packaging,” SENAD said in a statement.Various media outlets, such as La Nación, reported that the drug likely belonged to a “powerful criminal organization” that shipped the hashish to Brazil from that border location. The drug was incinerated on site, ABC Color reported, and no one was captured during the operation.In late July, SENAD dismantled a hashish production lab, also in Amambay department. According to SENAD, the emergence of these types of facilities seems to be due to an increase in the demand for new marijuana varieties on the Brazilian market.“Hashish is in high demand and is more profitable, although it’s not very common due to the careful process required to conserve it,” Francisco Ayala, SENAD director of Communications, told the news portal Última Hora.For his part, SENAD Minister Arnaldo Guizzio told Última Hora that hashish usually comes from abroad into the country, and authorities normally seize it in airports and ports, but not frequently in crop camps.According to the World Customs Organization’s 2019 Illicit Trade Report, customs administrations reported the seizure of more than 540,000 kg of marijuana worldwide, 20.8 percent of which was hashish.
Minister Bruton officially opened the North West Science Park extension at the CoLab in Letterkenny today.Forty start-up companies, over 140 graduate-level employees, and an entrepreneurial ecosystem that supports businesses in the knowledge economy is a statement more synonymous with Dublin or Belfast Innovation Centres.However, this testimonial describes the newly completed EU INTERREG IVA funded North West Regional Science Park (NWRSP) extension to the CoLab at Letterkenny Institute of Technology.The Park was officially opened by Minister for Jobs, Enterprise and Innovation, Richard Bruton TD to coincide with the publication of the North East/North West Action Plan for Jobs, targeting a 10-15% growth in employment across the region in the coming years. The NWRSP provides a flagship hub for all that is innovative, creative and knowledge based in the North West of Ireland. The newly extended CoLab comprises 45,000 square ft. incubation centre, and is an economic driver for regional development embedded in the heart of higher education in the North West.Situated at the Letterkenny Institute of Technology campus, the location provides a setting which enables all aspects of the NWRSP vision to be achieved, as it provides a well-educated, dynamic work-force, keen to create start-ups, explore possibilities and to become leaders of the future.When Minister Bruton last visited the Letterkenny Institute of Technology campus in May, 2014, the Minister spoke about supporting job-creation across all regions of Ireland, paying particular attention to the boost that the development of the North West Regional Science Park would have on this region.Eighteen months later, Minister Bruton today returned to the LYIT campus and added: “When I visited the LYIT campus 18 months ago I spoke about the importance of innovation in supporting jobs growth across the regions. Since then, 10,000 jobs have been added in the North East/North West region but we must do more if we are to deliver the living standards that we are targeting for people across the country. “That is why we are today launching a new jobs plan for the entire region, with innovation at its very heart. The official opening of the North West Regional Science Park will play a major role in supporting new innovation and R&D in companies and education institutions right across the region. My Department have made a direct financial contribution of just over €1m toward the construction costs of this project, thereby providing a permanent long term resource for start ups in the North West. I congratulate Paul and the entire team and wish them every success with this project”.Paul Hannigan, President, LYIT added that Letterkenny Institute of Technology has provided an employment pool for multi-national companies and SMEs in the North West for many years.“The launch of the North West Regional Science Park ignites a new energy for undergraduates and postgraduates of the Institute. The innovation centre is now employing over 100 graduates of the Institute, many of whom have created new start-ups and are on the cusp of innovation, with bright futures ahead. We are proud to be able to provide ‘the right people, at the right time’ and the opening of NWRSP is another welcomed step in the ‘right direction’ for the Institute.”The project has been achieved through a unique cross-border partnership involving Northern Ireland Science Park (NISP) and LYIT, and is being led by the North West Cross Border Group, which comprises of the five councils of Derry, Donegal, Limavady, Strabane and Magherafelt.The NWRSP has been built upon the best practice and momentum of NISP and it seeks to extend the activities and assets of NISP into the North West Cross Border region. The main aim of NWRSP is to stimulate the establishment and development of high-quality technology and knowledge-based businesses in the North West of Ireland. Speaking on behalf of NISP, Dr Norman Apsley, OBE, said: “This project has been a pleasure to work on from the very beginning. With our excellent partners listed above and all their stakeholders, we celebrate the end of the first phase, getting our buildings up on time and to budget and filling them with quality tenants, full of potential for growth and jobs for the region. We do recognise, however, that the real job is only beginning now, creating a sustainable culture of knowledge based enterprise. To that end we welcome the interest in our work that has been shown by the schools and teachers of the region. Clearly, the basic ingredients are assembling and we look forward to making it happen.”The Chairman of NWRCBG, Councillor Paul Fleming, commended the partners who were involved in the delivery of the project. He also thanked SEUPB, the INTERREG programme management body, and the Governments of Ireland and Northern Ireland, without whose financial support and endorsement such true cross border projects could not be developed, and highlighted the importance of maintaining relationships and partnerships through on-going cross border collaboration.The project is funded by the European Union through the INTERREG IVA programme, which is managed by the Special EU Programmes Body (SEUPB). Match-funding for the project has also been provided by the Department of Jobs, Enterprise and Innovation in Ireland and the Department of Finance and Personnel in Northern Ireland.Speaking on behalf of the SEUPB, Programme Manager Paul Boylan, said: “In receipt of £12 million worth of funding from the EU’s INTERREG IVA Programme, the project was one of the largest to be supported during the last programming period. This high level of investment is reflective of the strength of the original project application and also the commitment of the European Union to developing a stronger entrepreneurial culture, on a cross-border basis. I am very impressed by what I see and I am encouraged to hear about the impact that the project will have in enhancing the R&D capacity of local businesses, right across the North West.” The opening of the NWRSP has now firmly positioned Letterkenny and the North West as a key destination for innovation, creativity and inward investment. If any business would like to learn more about availing space at the North West Regional Science Park please contact Patsy Donaghy, Co-Lab Manager, on 074 9186703 or email@example.comMINISTER OFFICIALY OPENS DONEGAL’S NORTH-WEST REGIONAL SCIENCE PARK was last modified: November 30th, 2015 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)