Rising Business Costs Inform Policy Agenda
With 15 consecutive months of total job openings exceeding 20,000, Vermont’s workforce crisis continues to impact businesses. At the same time, the impact of inflation is being felt by every industry. While consumer spending remains high, the rising cost of labor, goods, and services are a strain on the business community. In the year ahead, there will be opportunities to advocate for responsible policies that address this issue by prioritizing the following solutions:
- Strategically recruiting more people to work for Vermont businesses
- Reducing barriers to developing new housing stock in smart growth areas
- Redeploying unused APRA funds to support issues impacting the workforce
- Marketing the state to visitors as a year-round destination
It will also be necessary to ensure there isn’t further impact to these rising costs by the growth of government spending. Siloed conversations for multiple initiatives that would result in steep payroll tax increases for businesses and workers will have broad ramifications. The Vermont Chamber will work to broaden the perspective so policy leaders can make decisions based on the full impact rather than one issue at a time. There will be an opportunity to find and advocate for balance in moving the state forward.
