Bennington, Vermont is home to an increasing number of employees in the composites industry.
In 2005, the composites industry in Bennington consisted of one company and approximately 85 jobs. Today, three major composites companies are located in Bennington along with an emerging composites supply chain with approximately 500 jobs. The major catalyst for this changing dynamic was a decision by Israeli based Plasan Sassa to locate their American-based subsidiaries in Bennington in 2006.
The composites field is diverse and includes a variety of industries including auto, aerospace, medical and armor, just to name a few. The industry's continuing growth is benefitting from two powerful long-term trends: lighter materials and structural integrity. As these trends continue to drive innovations in the industry, suppliers are increasingly finding there are benefits to being closer to the end-users of their products. The Maneely Corporate Park in Bennington is ready for these businesses.
The park is strategically located in Bennington, and around the corner from Plasan Sassa. The park currently has 38 ready to build acres that are fully infrastructured and pre-permitted with eleven subdivided lots ready for construction. The park offers views of the Green Mountains as well as the Bennington Battle Monument. The park also qualifies for federal New Market Tax Credits. In addition, Vermont offers a comprehensive incentive package which can include cash incentives, low cost financing, workforce training, electrical discounts, property tax stabilization and marketing assistance.
The worldwide site selection process by Plasan Sassa was very comprehensive and underscores Vermont's unique ability to leverage its job force, its brand of second-to-none quality of life and its compelling incentive package to successfully compete for global expansion projects. And it's not just the composite industry that is taking notice. Recently WCW, a mattress manufacturing company, moved its headquarters to Manchester, VT to take advantage of incentives and all the community has to offer. In Pownal, which is just south of Bennington, a 15 acre, $10 million solar farm will be completed by Gestamp Solar and is slated to be operational this summer. This 2.2 megawatt project will be one of the largest of its kind in New England.
As Bennington is located in the southwest corner of Vermont, it is a convenient 35 miles to Albany, N.Y. and 15 miles to western Massachusetts. The proximity to Albany provides excellent access to the Capital District including RPI, University of Albany, Albany Int'l Airport and more. Laurie Tylenda of CBRE-Albany has been retained as the exclusive agent for the Maneely Corporate Park.
Peter O'Dierna is executive director at Bennington County Industrial Corporation, Bennington, Vt.