Impact
Vermont Rural Ventures’ investment into Commonwealth Dairy’s expanded manufacturing plant adds a minimum of 34 new jobs to Commonwealth’s existing workforce of over 80 individuals. It not only solidifies the company’s ability to grow and expand, but also impacts the Vermont dairy industry by increasing demand for milk, and ultimately netting higher milk prices to farmers. As a further benefit to the community, Commonwealth Dairy shares 5% of its net profits with the farmers who supply its milk to facilitate milk quality improvements, increased production, and herd sizes; provides scholarships to University of Vermont and Vermont Technical College students; offers internships; and supports the Vermont Food Bank and other community events and organizations.
Gap and Investment
After just a year of operations, demand for Commonwealth Dairy products greatly exceeded its production, sales, and employment capacity, resulting in the business’s need for increased space and equipment. Financing from Vermont Rural Ventures enabled the expansion of the newly created facility by 23,000 square feet of processing, dry, and cold storage space. Additionally, the business was able to stay ahead of market trends by acquiring pouch filling, waste water treatment, whey processing, and product packaging equipment.