A start-up company, a long-time Vermont manufacturer, and a Canadian firm have been authorized to earn $1.7 million worth of incentives that could produce 238 new jobs over the next five years.
At its recent meeting, the Vermont Economic Progress Council gave initial approval for incentives totaling up to $795,139 for joint venture ASK-in TAG, LLC to potentially establish a facility in Chittenden County to develop and manufacture radio frequency identification documents such as enhanced driver's licenses.
The council also gave initial approval for incentives totaling up to $246,051 to persuade Quebec-based BEMAG Transformers to open a U.S. facility locally to manufacture dry-type transformers. Final approval of up to $692,854 was given to BioTek Instruments, Inc., a Vermont company that makes laboratory instrumentation and software, for a potential expansion in Chittenden County.
"These projects represent opportunities in value-added manufacturing and the knowledge-based economy that could create many great jobs," said Karen L. Marshall, chairwoman of the Vermont Economic Progress Council.
"These incentives provide the State of Vermont with a real leverage point to encourage growth in new sectors, even while we are experiencing the pain of cutbacks in other industries," Marshall added.
ASK-in TAG is a joint venture between ASK of France and WS Packaging of Wisconsin. The joint venture is seeking to establish a development and manufacturing facility to serve the growing market in radio frequency identification documents.