The following is a timeline of REDC’s history:
June 11, 1937 — First meeting of Rutland Development Corp. was held; Albert Cree elected president.
1937 — Willow and Edson streets parking lot opened.
1940 — Parking fee of 10 cents goes into effect.
1951 — Purchased 55 acres on Seward Road; sold 28 acres to U.S. Samica; built Windcrest Road to service adjacent industrial park.
1953 — Purchased 65 acres in Rutland Town for the Cold River Industrial Park.
1954 — Cree resigns from Rutland Development Corp. to head Rutland Hospital building campaign; Robert Mitchell elected president. Mitchell appoints Bob Stafford (later U.S. senator) to head fundraising campaign; assisted Tambrands to purchase 25 acres on Park Street; recruited General Electric Co. from Ludlow to fill former Tambrands building on Columbian Avenue.
1958 — Formed New Industries Inc., raising money for a spec building to attract new industry.
1960 — Sold parcel of land on Seward Road to Moore Business Forms.
1961 — Spec building sold to O.E. McIntyre Inc. (later, Metromail).
1965 — Sold land to Mal Tools and Moore Business Forms.
1975 — GE opens second plant on Windcrest Road.
1976 — Expansion of Cold River Industrial Park; land sale to Lepco Plastics and Green Mountain Outfitters.
1977 — Rutland Development Corp. and New Industries merge to form Rutland Industrial Development Corp.
1978 — State charters 12 regional development corporations; Ned Pike and John Russell II lead $300,000 fundraising campaign for economic development; purchased Patch Wegner building; sold spec building to Coca Cola in Cold River Industrial Park.
1979 — RIDC hires first full-time employee, Michael Bancroft.
1980 — Plans for Airport Industrial Park unveiled.
1981 — 7-Up bottling plant and Tuttle Law Print move to Cold River Industrial Park.
1983 — RIDC acquires 118 acres from the state for Airport Industrial Park.
1985 — Patch Wegner Building sold to Himolene.
1986 — Airport Park infrastructure completed.
1989 — Kalow Technologies becomes first Airport Industrial Park (AIP) tenant.
1990 — Knight Cabinets moves to AIP.
1991 — FedEx moves to AIP; REDC builds new home for H. Hirschmann Ltd.
1993 — The Vermont Country Store moves to AIP; RIDC establishes first revolving loan fund.
1994 — RIDC changes its name to Rutland Economic Development Corp.; Phase II of Airport Industrial Park begins.
1995 — Tuttle Publishing builds warehouse in AIP; REDC guarantees loan for Brandon Industrial Park; Vermont Tubbs builds new facility in Brandon Industrial Park.
2009 — Vermont Wood Pellet moves to AIP.
2012 — Ellison Surface Technologies expands in Cold River Industrial Park.MORE IN World/National BusinessWASHINGTON — The detective work blaming North Korea for the Sony hacker break-in appears so far... Full StoryNEW YORK — Crude oil prices steadied Tuesday afternoon, giving a lift to oil and gas stocks and... Full StoryWASHINGTON — The Federal Reserve is edging closer to raising interest rates from record lows... Full Story
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