State economic development staff and growers press for equity funding, technical assistance in S.278

Tim Tierney, senior economic development director at the Agency of Commerce & Community Development (ACCD), and Nathan Davidson, economic development specialist, briefed the committee on Vermont’s cannabis social‑equity program and funding needs. They described the program’s early appropriations and its delivery model: technical assistance via a contracted provider and $5,000 beneficiary payments to qualifying social‑equity participants.

Tierney said the program received an initial $500,000 appropriation in fiscal 2022 and that ACCD later received two additional $500,000 appropriations; he reported roughly $350,000 remained in the fund to support ongoing technical assistance and beneficiary payments. Nathan Davidson gave a different figure, saying about $267,000 remained; ACCD witnesses acknowledged the discrepancy and said staff would reconcile balances and discuss options for additional support.

Tierney emphasized state limits on lending for cannabis businesses (no state loan guarantees) and said ACCD’s model focuses on beneficiary payments and technical assistance rather than direct loans. ACCD asked the committee to consider any appropriations included in S.278 or to coordinate with budget committees so the social‑equity program can scale services for tier‑1 manufacturers and cultivators.

Grower witnesses also requested restoring $1,000,000 to a Cannabis Business Development Fund and $1,600,000 to the Land Access Opportunity Board to support community reinvestment and technical capacity. Committee members asked for clarifications on bill section numbering and whether budget conference processes would address appropriations removed from the committee’s version of the bill.