SOUTH BURLINGTON, Vt. (WCAX) – Beta Technologies officials on Tuesday showed off their new building in South Burlington to the bank that loaned them money to build it.
The official credit agency of the United States, the Export-Import Bank of the United States or EXIM, loaned Beta $170 million last fall as part of the bank’s Make More in America Initiative. It’s a program under the Biden administration designed to help small and medium-sized businesses compete on a global scale.
Representatives from the bank were in Vermont to see the new facility and find out what Beta can do for the future of aviation.
“How can you not be excited? How can we not come out here with a smile on our face? To know that right here in Vermont, Vermont is going is is the place that is going to be one of the key, I believe, drivers of the future of aviation and it’s going to be also done here in Beta,” said Reta Jo Lewis, the President and Chair of the Export-Import Bank of the United States.
EXIM says part of their interest in Beta is bringing supply chains home to the U.S. and reinvesting in local manufacturing that can be exported around the world.