Wed, Aug 1, 2012 01:55 PM
Steve Costello, vice president at Generation and Energy
Innovation at GMP, hands a check for $50,000 over to Michael
Coppinger from the Rutland Downtown Partnership.
Following through on commitments related to the merger with Central
Vermont Public Service, Green Mountain Power presented checks on
July 27 for $50,000 each to the Downtown Rutland Partnership and
the Rutland Economic Development Corp. to help bolster economic and
business development in the Rutland area.
"Green Mountain Power appreciates the strong roots CVPS built in
the Rutland area over many years and we're fully committed to
continuing and expanding on its tradition of serving the Rutland
community in a variety of ways," said Mary Powell, president and
CEO of Green Mountain Power. "Supporting the work of the Downtown
Rutland Partnership and Rutland Economic Development Corp. is a
direct continuation of that tradition."
As part of merger negotiations, GMP and CVPS made commitments to
create a $100,000 "Open for Business Fund" at the Downtown Rutland
Partnership and a $100,000 "Green Growth Fund" at the Rutland
Economic Development Corp. Prior to the merger closing, CVPS
awarded an initial $50,000 to each organization, and GMP made the
same payments Friday, July 27.
Downtown Rutland Partnership's "Open for Business Fund" will help
improve storefronts and provide incentive funds for downtown
"GMP has already proven to be a great partner for the
partnership," Executive Director Michael Coppinger said. "We look
forward to working closely with GMP as the company looks to make a
substantial investment in the community by locating its planned
Energy Innovation Center downtown, and the funds received today
will help us bring other business into downtown as well."
The "Green Growth Fund" will allow REDC to provide additional
assistance to ventures generating jobs in new technology fields,
with a focus on those that provide a positive impact on the green
"Rarely do we have discretionary funds available for innovative
new approaches to economic development," said Jamie Stewart,
executive director of REDC. "This support from GMP will allow us to
create programming that will help Rutland County be a leader in new
economy jobs and enhance the lives of working Vermonters in our
In addition to GMP's contributions to the "Open for Business
Fund" and "Green Growth Fund," the utility has made numerous other
commitments to the Rutland area including: refraining from layoffs
or mandatory relocations of former CVPS employees; locating its
Headquarters for Operations in Rutland Town and its Energy
Innovation Center in downtown Rutland; and establishing a solar
city program in Rutland.
"We're excited to be able to help stimulate economic growth in
the Rutland area, which will benefit many of our customers in the
long run," Powell said. "It is a key component of Green Mountain
Power's corporate ethic to give back to the communities we serve,
and this is a perfect opportunity to do just that."
Green Mountain Power (www.greenmountainpower.com) transmits,
distributes and sells electricity in the State of Vermont. It
serves more than 250,000 customers.