Resiliency Must be Central to Housing Development Policy

July 28, 2023

Resiliency Must be Central to Housing Development Policy

With Act 250 modernization on the table this upcoming legislative session, the Vermont Chamber is advocating for smart growth housing development in Vermont to have an emphasis on climate resiliency. Specifically, on the need to include resiliency efforts in downtown and village center development. Smart growth also needs to expand beyond existing high-density locations to include areas that are safe from floodplains and other high-risk land.

With major flooding events occurring more frequently in high-density areas, legislators must examine if smart growth means filling in the empty space in these areas, even if they are prone to flooding. Downtown and village center housing projects are often aimed at low and moderate-income Vermonters, those least likely to be able to rebound from a catastrophic loss. When the legislature examines housing and changes to Act 250 it will be paramount to reconsider what smart growth for housing in a resilient Vermont should look like.

July 28, 2023

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Businesses Need Immediate Financial Assistance, and Time, to Recover

July 28, 2023

Businesses Need Immediate Financial Assistance, and Time, to Recover

The House Commerce and Economic Development Committee and the Senate Economic Development Committee held a joint hearing on flood recovery and relief. In testimony, the Vermont Chamber urged legislators to consider that this climate disaster comes on the heels of years of economic disaster for businesses. Our team is encouraging legislators to consider a grant push now and additional funding when they return to the State House in January. We are also advocating for time. Time to recover from all the chaos in the last several years. Policymakers will need to be committed to business recovery for the long haul. Looking ahead to January, they must remember these hearings and hold the anxiety of these businesses in their deliberations.

Over the last 12 months, businesses have dealt with an economic disaster with quickly rising interest rates and inflation on top of workforce and housing shortages. While inflation is now down to 3% from a high of 9%, the lack of workers in Vermont shows zero signs of change. Additionally, there are new taxes and regulations effective this year that must be incorporated into business plans and the lingering financial and mental impacts of the pandemic. Many businesses are being forced to decide if they have enough mental and financial fortitude to continue to operate. Meanwhile, Vermont cannot afford to lose them. They are the pulse of our economy.

July 28, 2023

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Intern Spotlight: Patrick Connolly

July 31, 2023July 18, 2023

Intern Spotlight: Patrick Connolly

Name: Patrick Connolly

College: Middlebury College

Field of Study: Major: International Politics and Economics, Minor: Mathematics

Anticipated Graduation: February 2026

Hometown: Chevy Chase, MD

“After working in Governor Phil Scott’s Workforce Development Board last summer, the Vermont Chamber of Commerce presents an opportunity to foster my growing love for Vermont and its businesses. Because this is a joint internship with The Vermont Futures Project, I am working across many subdivisions of the Chamber. This dynamic and multi-faceted position allows me to work in the intersection of public policy and the private sector, offering me hands-on experiences with advocacy, economic development, and data-informed decision-making for Vermont.

This learning experience will foster my passions for political sciences, economics, and a love for numbers. At Middlebury, the skills I am developing at the Chamber will be critical as I continue to explore educational pathways of interest.

The Chamber’s team is thoughtful, engaging, dynamic, and just a joy to work with. I could not be more grateful for this opportunity to expand my love for policy, data analytics, economic development, and, most importantly, Vermont.”

Contact Information:

Email – pjconnolly@middlebury.edu

LinkedIn: linkedin.com/in/patrick-connolly-0b593a239/

July 18, 2023

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Intern Spotlight: Maeve Nolan

July 18, 2023

Intern Spotlight: Maeve Nolan

Name: Maeve Nolan

College: Middlebury College

Field of Study: Economics, Environmental Studies, and French

Graduating: May 2025

Hometown: Williston, VT

“I am so excited to be working with both the Vermont Chamber of Commerce and Vermont Futures Project this summer. As a native Vermonter, I have appreciated being able to learn more about the thoughtful considerations taken for business throughout the state, as well as looking into the future of Vermont’s economy. This opportunity has allowed me to combine my passion for Vermont’s people and places with my academic interests in economic development and business.

Along with being an Economics major, I have a minor in Environmental Studies which has informed my passion for sustainable development, especially in the small business and public sectors. Through my previous work in development at 1% for the Planet, a global environmental nonprofit based in Burlington, I became really interested in combining academic-style research with a clear mission that drives an organization. I am especially grateful to now be working with another organization that aids in maintaining the welfare of Vermonters and their businesses.

I have many ideas of what I would like to do after college, but I hope that whatever I end up doing will have a direct positive impact on as many people as possible. Though I still have a bit of time before graduation, I am always open to making connections, particularly when I’m talking about Vermont and what makes this place and its population so special. My contact information is listed below if anyone would like to follow up or ask about my experiences here at the Chamber or beyond. Thank you for contributing to Vermont’s business community and growing economy and enjoy the rest of your summer!”

Contact Information:

Email: mknolan@middlebury.edu

LinkedIn: linkedin.com/in/maeve-nolan/

July 18, 2023

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SBA Offers Disaster Assistance to Businesses & Residents of Vermont Affected by Storms & Flooding

February 13, 2024July 17, 2023

SBA Offers Disaster Assistance to Businesses & Residents of Vermont Affected by Storms & Flooding

The Small Business Association (SBA) is offering disaster assistance to businesses & residents of Vermont following the announcement of a Presidential disaster declaration due to damages from severe storms and flooding that began on July 7. Visit disasterloanassistance.sba.gov/ela/s/ or call 1-800-659-2955 to learn more.

Low-interest loans are available to Vermonters for:

Physical Damage to Business: Loan of up to $2 million to qualified businesses or most private nonprofit organizations
Economic (non-physical) Damage Assistance: Eligible small businesses, small agricultural cooperatives, and most private nonprofit organizations could receive additional support for non-physical damage.

SBA Business Recovery Centers are opening for Customer Service Representatives to assist business owners and residents in filling out a disaster loan application, accept documents for existing applications, and provide updates on an application’s status. Centers will operate as indicated below until further notice:

Business Recovery Center – Washington County

Vermont Chamber of Commerce

751 Granger Road

Berlin, VT 05641

Opening: Tuesday, July 18, 8 a.m. to 5 p.m.

Hours: Monday to Saturday, 8 a.m. to 5 p.m.

Closed: Sunday

Business Recovery Center – Windsor County

Engel & Völkers Okemo Building

126 Main Street

Ludlow, VT 05149

Opening: Wednesday. July 19, 8 a.m. to 5 p.m.

Hours: Monday to Sunday, 8 a.m. to 5 p.m.

Additional resources are available on our flood recovery resources page.

July 17, 2023

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Severe Weather – Business Recovery

July 17, 2023July 11, 2023

Severe Weather – Business Recovery

The Vermont Chamber is here to support businesses statewide with recovery efforts and our experienced and trusted team is on hand to listen, and assist. As we begin to understand the full extent of the damage caused by severe weather, there are initial steps we encourage businesses to take.

State emergency management officials and recovery resources are accessible at vermont211.org and by calling 2-1-1. In the event of an emergency, Vermonters should call 9-1-1. Vermonters should sign up to receive emergency alerts and observe road closures and power outages.

Governor Scott’s request for an emergency declaration for all 14 counties has been accepted by President Biden to allow for federal disaster relief resources to be deployed. State Emergency Management officials will be working with FEMA and the U.S. Small Business Administration on a disaster declaration which will allow for federal assistance in repairing damage from this storm. The Vermont Chamber is committed to connecting businesses with resources to aid in recovery and will send information as it becomes available.

What businesses can do right now:

Document the damage to your business and inventory via photos and videos when it is safe to do so.
Make a list of damaged or lost items and, if possible, include the date of purchase, value, and receipts.
Contact your insurance company to file a claim or understand what losses may be covered.

The Vermont Chamber is steadfast in our commitment to helping the Vermont business community recover from these catastrophic events. Please tell us what you’ll need to recover so we can connect you with resources and communicate needs with state and federal agencies: info@vtchamber.com

July 11, 2023

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Vermont Needs a New Migration Story

July 7, 2023

Vermont Needs a New Migration Story

The NYT published data last month on domestic migration from large cities to smaller cities during the pandemic. The national trend is due in part to the ability of high-income earners to work remotely. Here in Vermont, there’s a perception that we’ve had a lot of migration to the state and are experiencing this.

However, when you look at the data it shows a different picture:

Vermont saw a net gain of 92 people between 2021 and 2022, a negligible growth rate of only 0.01%.
Vermont has had more deaths than births since 2017 and given the age of our population, we can anticipate that this trend will continue.
Meanwhile, our labor participation rate has declined, and we now have 10,000 fewer workers than we did pre-pandemic, and yet we have more jobs available.

We need a new story for Vermont, one that encourages people to live and work here. The Vermont Chamber has been advocating for a publicly funded effort to elevate our achievements and attract more workers. Initiatives like the Declaration of Inclusion, along with wage growth, housing subsidies, innovative education and training programs, childcare assistance, climate change regulations, and broadband investments make Vermont an excellent place to move to. The problem is that people don’t know Vermont is an awesome place to live and work unless we tell them about it.

While elected officials support these initiatives, there is little support in the State House to develop and fund an outreach plan. Yes, we have work to do on the housing shortage, but we can, and we must, do more than one thing at a time.

July 7, 2023

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Megan Sullivan Appointed to Stakeholder Steering Committee for Act 250

July 28, 2023July 6, 2023

Megan Sullivan Appointed to Stakeholder Steering Committee for Act 250

Megan Sullivan, Vice President of Government Affairs, has been appointed to the Stakeholder Steering Committee for a legislative report on “Necessary Updates to the Act 250 Program.” The committee has been established as part of Act 182 of 2022 and Act 47 of 2023 to facilitate stakeholder input and consensus building for necessary updates to the Act 250 program. This appointment recognizes Sullivan’s expertise and the Vermont Chamber’s dedication to advancing the Vermont economy. Sullivan brings a wealth of economic development experience and knowledge to the table and her work will ensure that the needs of Vermont businesses will be considered in the process.

The Stakeholder Steering Committee was formed in June 2023 by the Natural Resources Board (NRB) and is comprised of 16 key leaders representing various constituencies, including applicants, consultants, attorneys, economic development organizations, housing organizations, municipalities, environmental advocates, and state agencies. The committee’s primary goal is to facilitate conversations, debates, and consensus-building to advise the NRB on a comprehensive and inclusive approach to the Act 250 program update report. Through regular meetings and open discussions, the committee will work to identify common ground between different proposals and interest groups, working towards recommendations that the NRB and stakeholders can support or have reached a compromise on.

July 6, 2023

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Committee Will Continue Work on Data Privacy Throughout Summer

February 27, 2024June 22, 2023

Committee Will Continue Work on Data Privacy Throughout Summer

The House Commerce and Economic Development Committee held a brief hearing on H.121, a data privacy bill that did not advance this session but is likely to be revisited next year. In recent months, the Vermont Chamber raised concerns that the legislation would have severe unintended consequences for small businesses that would struggle to comply with standards set for large corporations without the same capacity.

The Vermont Chamber will engage with legislators on reframing a strong consumer privacy bill that will not lead to unintended consequences for Vermont businesses. Specifically, by urging legislators to consider legislation passed in other states in which data privacy laws balance the protection of consumer privacy with manageable regulation on businesses.

June 22, 2023

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Working Vermonters to Pay First-Ever State Payroll Tax

January 26, 2024June 22, 2023

Working Vermonters to Pay First-Ever State Payroll Tax

Both the House and Senate advanced the major childcare legislation that was vetoed by the Governor without contest, enacting a payroll tax that will cost Vermonters nearly $100 million annually once it becomes effective on July 1, 2024. In recent weeks, the Vermont Chamber has heard an outpouring of input from businesses on anticipated solutions for absorbing this new cost. Many will pass the cost to consumers, further contributing to the soaring cost of living in Vermont which already hinders the ability of employers to recruit and retain workers. While a 0.44% tax may appear minor in print, its contributions to the cumulative impact of cost pressures and the cyclical nature of the Vermont economy will have repercussions.

The Vermont Chamber agrees that accessible childcare is part of addressing workforce challenges, but concerns remain that this funding isn’t structured to address accessibility and affordability for working Vermonters and if this $100 million doesn’t make gains on those key issues, advocates will be searching for even more funding. To understand the impact this tax will have on your business, enter your payroll to calculate the payroll tax levied on your business and employees, here.

June 22, 2023

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