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LEDdynamics Facility

Doing Business in Randolph

Randolph’s location in the “geographic center” of Vermont and direct access to I89 makes it a great location from which to access all parts of the state for personal and commercial travel. Amtrak’s passenger service in downtown Randolph connects to Burlington, New York City and Washington D.C. and Stagecoach Transportation Services offers commuter routes to the Barre/Montpelier area to the north and Dartmouth College and Upper Valley to the south.

Manufacturing has always had a strong presence in Randolph fueled by the human capital that are drawn to the region’s quality of life. From nationally known companies such as Vermont Castings to defense contractors like Applied Research Associates and specialty companies like New England Precision. New companies such as LED Dynamics, an innovator in LED lighting technology expanded into a $5 million 28,000 square foot facility in 2019. And, Vermont Glove Company, a company founded 100 years ago advocates for environmental stewardship, economic equity and social responsibility while producing exceptional gloves for utility professionals and tradespeople.

Tax Stabilization

Randolph's Tax Stabilization Policy is intended to promote the economic vitality in the Town and reduce the tax burden on its citizenry. In order to accomplish these objectives, tax stabilization contracts provide short-term incentives to commercial or industrial businesses in order to obtain long-term investment and potential tax revenues. 

Vermont law, 24 V.S.A. §2741, allows the Town, through its Selectboard to enter into contracts with owners, lessees, bailees or operators of agricultural*, forest land* industrial or commercial real and personal property for the purpose of

 

                1)  fixing and maintaining the valuation of such property in the grand list;
                2)  fixing and maintaining the rate or rates of tax applicable to such property;
                3)  fixing the amount in money which shall be paid as an annual tax upon such property;
                4)  fixing the tax applicable to such property at a percentage of the annual tax.
 

By statute, contracts cannot be for a period in excess of 10 years. Regardless which of the four methods described above are chosen by the Selectboard to stabilize taxes, it shall be town policy that tax stabilization is an economic development incentive administered with prudence but also with the flexibility necessary to achieve the joint development goals of the applicant and the Town. Tax stabilization agreements shall be negotiated on a case-by-case basis unconstrained by precedent. The Selectboard reserves the right to waive or modify these guidelines when they determine that the public interests and the purposes of this policy are best served. For more information contact Mark Rosalbo at 802-728-5433 x13.