December 15, 2023 - Vermont Chamber of Commerce

Solutions for Recruiting and Retaining Workers

The Vermont Chamber continues to focus on the workforce crisis. While there is no easy fix, there are a variety of new or expanded tools being offered by Vermont for training, housing, and childcare that are available for employers to use or workforce recruitment and retention tools.

Recruitment

Military Retiree Pension Tax Exemption: Recruit retired military veterans with Vermont’s new partial exemption of retired military pensions which will exempt the first $10,000 of military retirement pay from state personal income tax.
Social Security Tax Exemption: Recruit workers into the workforce who are currently taking Social Security with Vermont’s increased personal income tax exemption for Social Security beneficiaries.
Recent College Graduate Forgivable Loans: Entice students at Vermont higher education institutions to become employees through forgivable loans available to students committing to work in Vermont for two years after graduation through the Green Mountain Job and Retention Program.
New Americans: Access to support services is available through a program aimed at retention of recent arrivals. More information on the program is available through the State Refugee Office for the Employment Assistance Grant Program.

Training

Offer training opportunities to fill positions and promote high potential workers with incentives including grants like the 802 Opportunity Grant and the Short-Term Training Advancement Grant.
Vermont Trades Scholarship Program: Secure high-demand trade sector employees by promoting the Vermont Trades Scholarship Program which provides initial licensing fees, exam fees, and tuition payments for certification and degree programs to applicants and employees.

Housing Costs

First-Generation Homebuyer Tax Credit: Retain employees struggling with buying a home by sharing the new first-generation homebuyer tax credit program with them. This program will be administered by the Vermont Housing Finance Agency.
Home Heating Incentives: Help employees receive financial assistance to switch to lower-cost, energy-efficient residential heating sources. Some products and services are free to income-qualified households.

Childcare Costs

Childcare Financial Assistance Program: Promote Vermont’s expanded childcare subsidies available to a wide range of income levels to reduce out-of-pocket childcare costs.
Child Tax Credit: Vermont’s child tax credit for individuals and families with children under five will reduce the financial burden of childcare costs for employees through a refundable tax credit. This State benefit is a great way to recruit out-of-state employees with childcare needs.

December 15, 2023

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Draft Report on Recommended Act 250 Updates Released

The Vermont Natural Resources Board released a draft report that underscores the need for strategic changes to Vermont’s land use policy. In recent months, Megan Sullivan, VP of Government Affairs was on the Stakeholder Steering Committee for the report, working to center modernization and to ensure essential housing development in smart growth areas is incentivized. Businesses are encouraged to submit feedback on the report in writing today, Friday, December 15, 2023. By participating in the public comment process, we can work together to ensure that Act 250 reform aligns with the needs of Vermonters.

There is an opportunity this year to update Act 250 to allow for critical housing development while also protecting important natural resources. It is essential that after taking public comments into account the final report recommendations consider the following:

We must ensure that the final report recognizes the role housing plays as an economic catalyst. We can stimulate economic activity and opportunity by reducing redundant permitting that adds unnecessary time and costs. This will actively support the creation of more housing in smart growth areas that subsequently help retain Vermont’s current population and attract new talent to Vermont.
It is vital that areas proposed for Act 250 exemptions, or a higher unit trigger, meet Vermont’s growth needs over the next 20 years. Infill development in current mapped designation areas which include less than 3% of Vermont’s land, will not meet the level of new housing units required to meet the goal of 350,000 units by 2035.
Any enhanced Act 250 jurisdiction in areas that have subsets of highly sensitive natural resources in Vermont should be carefully studied with input from rural Vermonters. Rural communities are an important part of the fabric of Vermont and cannot be left out or left behind.
The final report should contain a clear recommendation on measurable performance indicators. They must require that the administration of Act 250 is timely, consistent, predictable, and fair across all District Commissions.