Newport's Competitive Edge
Newport's Competitive Edge
"For entrepreneurs serious about keeping a work-life balance, Vermont may be the ideal place to get started." --CNN Money
Newport, VT offers a competitive edge for locating transnational and domestic businesses here. Newport is located just south of the Canadian border and within a 2-hour drive-time of the Port of Montreal and within 4 hours of the Port of Boston. Canadian autoroute 55 and US Interstate 91 offer easy access to Newport (exit 27).
Newport enjoys the benefits of being home to North Country Hospital and the Northeast Kingdom International Airport. Other business incentives include a Tax Stabilization Policy, Foreign Trade Zone status and Form-Based Code Zoning.
Northeast Kingdom International Airport (EFK) is a general aviation facility serving a population of 35,800 within 20 nautical miles. There are two runways, each 4,000 feet long. The airport recently completed an expansion which included an additional 1,000 feet to the main runway. An independent economic evaluation of the airport was completed in 2011 and is available for download from the list of files below. A video of the Northeast Kingdom International Airport and what it offers can be found by clicking here. The airport is in the middle of a $20M investment for expansion and enhancement.
Newport City’s Tax Stabilization Policy was adopted by the Newport City Council in 2010. One of the major objectives of the Newport City Council is to promote and encourage commercial and industrial development of the City of Newport. Tax Stabilization is an incentive for business and or developers considering locating, re-locating, co-locating, developing, enhancing and expanding within the City of Newport or for business owners moving into their building(s). Criteria and eligibility for tax stabilization are related primarily to job creation and creating new commercial/industrial establishments or modifying existing spaces. The Newport City Tax Stabilization Policy is available for download from the list of files below.
Foreign Trade Zone: Northeast Kingdom International Airport and the City of Newport are identified as magnet sites for our region’s Foreign Trade Zone. Newport is in one of only two active Foreign Trade Zones in Vermont. The other is at the southern end of the state in Brattleboro. At the Northeast Kingdom International Airport there are 34 acres available for development for warehousing and manufacturing. There are also a number of privately owned acres available adjacent to the airport. A map of the FTZ area and an explanation of the advantages of locating in a Foreign Trade Zone are listed below in the files available for download.
In addition to these key advantages to locating your business in Newport, VT, Newport is first in the state to adopt form-based code zoning that streamlines the permitting process saving time and money for developers. Newport City Renaissance Corporation serves as a catalyst for transforming Newport’s community and economic development. The NCRC does this by advancing and enhancing the economic environment, creating a cohesive and welcoming City design and promoting Downtown Newport as a destination for tourism and business investment.
Since its inception in 2007, the Newport City Renaissance Corporation has been instrumental in Newport’s economic and community development. The DiscoverNewportVT.com website is managed by Newport City Renaissance as a clearinghouse for information about Newport, VT. You will find links to marketing videos, dining, lodging, events, recreation, city government and information about business opportunities there.
In addition to the economic development reports noted above, please stop by the Survey page to learn more about:
- 2014 Newport Trade Market Analysis
- 2008 trade market analysis
- 2011 Second Homeowner Survey Results
Economic and physical baseline studies of Newport are available upon request from the Newport City Renaissance Corporation (firstname.lastname@example.org).
Two important partners of Newport City Renaissance are our regional planning & development organization, NVDA, and our regional organization for supporting businesses and regional economic development, NCIC.
The American Institute of Architects' (AIA) Regional/Urban Design Assistance Team (R/UDAT) visited Newport in 2009 evaluated Newport's assets and challenges and produced a report with recommendations. In 2011 the R/UDAT returned to assess progress and make further recommendations. The reports are available as PDFs, seen at the bottom of the page:
- 2009 Newport Regional/Urban Design Assistance Team (R/UDAT) Report
- 2011 Newport R/UDAT: Update on Economic Development, Waterfront Development and Vibrant Downtown
For Market Analysis, please click here.