Competitive Advantage

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 are easy access to Newport (exit 27).

In addition to its opportunistic location, Newport enjoys the benefits of the Newport State Airport, Tax Stabilization Policy and Foreign Trade Zone status (April 2012).

• Newport State 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 is scheduled for enhancement, including adding another 1,000’ feet to the runways. Newport City Renaissance Corporation facilitates a partnership of federal, state, regional and local agencies and businesses that is consistently advocating for improvements to the airport that will be advantageous to cargo and passenger service. An independent economic evaluation of the airport was completed in 2011 and is available for download from list of files below. A video of the Newport State Airport and what it offers can be found by clicking here.
• 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 list of files below.
• Newport State Airport and the City of Newport are identified as magnet sites for our region’s Foreign Trade Zone. Foreign Trade Zone status is scheduled for enactment by July 2012. Newport will be in one of only two Foreign Trade Zones in Vermont. The other is at the southern end of the state in Brattleboro. At the Newport State 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 in files available for download from list below. 

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. Find an article from Vermont Business Magazine available for download from list below.

Newport's Mayor Paul Monette, with some members of NCRC's Economic Restructuring team, produced a slide show (available for download from list below) illustrating available properties in Newport. NOTE: Properties #1 and #7 were sold to biotech companies in September 2011. These companies will bring over 200 direct jobs and 2,000 indirect jobs to Newport, VT.

Newport City Renaissance Corporation (NCRC) serves as a catalyst for transforming Newport’s community and economic development. The NCRC does this by advancing and enhancing the economic environment, development of a cohesive and welcoming City design and promoting the City as a destination for tourism and business investment.

Since its inception in 2007, the Newport City Renaissance Corporation’s leadership has been instrumental in achieving local, regional, state, national and international recognition for the progress made in Newport’s economic and community development. You can learn more news you can use here.  The discovernewportvt.com website is managed by NCRC as a clearinghouse for information about Newport, VT. You will find marketing videos, dining, lodging, events, recreation, city government and information about business opportunities there.

In addition to the economic development reports noted above here is the link to a 2008 trade market analysis for Newport and you will find the 2011 Second Homeowner Survey Results available for download from the list below.

Economic and physical baseline studies of Newport are available upon request from the Newport City Renaissance Corporation (info@discovernewportvt.com).

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, 2009 Newport Regional/Urban Design Assistance Team (R/UDAT) Report and Newport R/UDAT 2011: Update on Economic Development, Waterfront Development and Vibrant Downtown are available for download from list below.