Vermont gained new attention — and new residents — when it started offering people $10,000 in 2018 to move in and bolster the state’s declining population.

Now the Town of Woodstock is hoping to do something similar, but with businesses. Its Economic Development Commission has created a $30,000 grant fund program called Startup Woodstock for entrepreneurs who want to create or expand a venture in town.

“This shouts out to the public that Woodstock is open to business,” said Larry Niles, who cofounded the program with commission chair Jon Spector and local resident Cliff Johnson. “Young people, bring your jobs, your family, your expertise and your excitement.”



Woodstock, a town of about 3,000, is home to an active force of volunteers who have long tapped resident benefactors and the town's 1 percent local option sales tax to address public policy issues.

The economic development commission is using about third of its $300,000 budget this year — funded by the tax — to come up with solutions to the housing shortage. And in September, it opened the grant program to applications from entrepreneurs who might help bring sustainable wages and business to Woodstock, which relies heavily on tourism and where the average home price is around $575,000 — about 55 percent higher than the statewide average of $370,000.

Grant applications due December 1 will be judged by eight local residents with business experience, Niles said. People from out of state who would like to move their business to Woodstock are welcome to apply, he said.

The applications filed so far are open to public scrutiny on the commission’s website and include requests for help with wages at a planned bar and brasserie; upgrades at an existing coffee company; a photo exhibit showcasing women in agriculture; and the expansion of a one-year-old e-bike rental company.

Woodstock has been trying to attract a new restaurant, and Niles said a grant might help cover any needed renovations.

“It might be enough to take the hurt off making that transition,” he said.

One or more winners will be chosen by February 15, and will receive mentoring and coaching from local residents who have business experience.

“A number of people have great ideas but don’t have the expertise to pursue them,” said Niles, who is retired from running a bicycle touring company.

Johnson moved to Woodstock with his family from Atlanta in July 2021. He cofounded the vacation rental company Vacasa in 2009, left it in 2018, and now works as a vice president at the real estate website Realtor.com. He will mentor grant recipients, and he recently bought a downtown property that he hopes to turn into offices for businesses with a social mission.

“I care a lot about investing in people who would not otherwise have an opportunity to get that funding and that have a purpose,” Johnson said. “I don’t have a lot of interest in spending time on people who just want to turn a profit.”

Over the years, many cities and towns have created programs aimed at spurring business growth. Many larger towns have established revolving loan funds for business, and a few offered grants during the pandemic, said Ted Brady, who is executive director of the Vermont League of Cities and Towns. But Woodstock's  program appears to be unique because it is based on grants, Brady said.

Niles views the first year as a trial run.



“If this is even marginally successful, you’ll see a significant increase in ensuing years in the amount we offer,” he said.