Governor Phil Scott and his administration today presented a plan to invest $1 billion in one-time federal money to jumpstart economic recovery and support long-term economic growth.
The proposals would spend one-time federal money – which is not permanent, ongoing funding – on one-time transformations rather than programs the State would have to continue to support with other sources of funding once this federal money is gone, a press release issued Tuesday said.
Through the American Recovery Plan Act (ARPA), Vermont received $1,029,500,000, which it has until December 2024 to allocate. The Administration’s plan recommends using the funds in five strategic categories:
- $250.5 million for broadband and wireless connectivity
- $249 million for housing
- $200 million for climate change mitigation measures
- $170 million for water and sewer infrastructure
- $143 million for further economic development and recovery
The proposal also includes $17 million to cover administration and successful deployment of funds. The plan will need legislative approval. Click here for an overview of the proposals and funding breakdown.