Opportunity for Strategic Housing Investment in the Budget Adjustment Act

Opportunity for Strategic Housing Investment in the Budget Adjustment Act

This year, the annual task of adjusting the budget based on additional available funding, changes in program costs, and needs, will be different than in recent legislative sessions. With federal pandemic aid no longer in excess, discussions regarding the Budget Adjustment Act are subject to increased scrutiny and must be strategic. Funding must meet the greatest needs of Vermonters, and workforce housing is top of mind. The severe workforce shortages are exacerbated by the housing crisis and lead to recruitment and retention challenges that hinder Vermont’s economic growth. To address this, the Vermont Chamber is advocating in support of the Vermont Housing Finance Agency’s request for $25 million for the Middle-Income Homeownership Development Program

More needs to be done to engage with the private development community to increase the overall amount of homeownership opportunities for middle-income Vermonters. Specifically, by addressing the barriers that exist for building homes that the market can afford. The Middle-Income Homeownership Development Program has existed as a pilot program over the last two years and has successfully increased housing stock across the state. It has proven to be a prudent use of funding, making the most of programmatic dollars to create homes for 136 families to date. Support for this funding in the FY24 Budget Adjustment Act would ensure that the program continues to spur the critical work of building more middle-income housing.

Land Use Modernization is an Essential, and Affordable, Housing Solution

Land Use Modernization is an Essential, and Affordable, Housing Solution

Legislators discussed important land use reports this week, in the Senate Economic Development, Housing, and General Affairs Committee, the House Environment and Energy Committee, and the Rural Caucus. This session is an opportunity to craft legislation that encourages more housing to be built in viable locations, without appropriating large sums of money. In particular, the Vermont Chamber is advocating for housing solutions that incentivize new development in and around our community centers as outlined in the Vermont Natural Resources Board report on necessary updates to Act 250.

Megan Sullivan, VP of Government Affairs, was on the Steering Committee for the report, which underscores the need for strategic changes to Vermont’s land use policy. This work brought together stakeholders with diverse perspectives to reach an agreement on how to best center modernization and incentivize essential housing development in smart growth areas. Several bills have been introduced that would be vehicles for progress in this area and the Vermont Chamber will be engaged throughout the session to ensure real progress is made.

GROW Grants Will Enhance Workforce Recruitment

GROW Grants Will Enhance Workforce Recruitment

Twelve partner organizations were announced as recipients of funding through the Grants for Relocation Outreach Work (GROW) program, an initiative that the Vermont Chamber championed funding for in the last legislative session. The grant, administered by the Vermont Department of Tourism and Marketing, will have a positive impact on workforce recruitment and retention. It is an essential step forward to addressing Vermont’s demographic crisis. The GROW grants are divided into two tracks – the Regional Relocation Network Track and the Outreach Track.

Regional Relocation Network Track: Grantees will complement and support the State’s relocation lead generation and distribution system on ThinkVermont.com. Grantees will be required to connect with and follow up on generated leads of potential residents interested in moving to their area.

  • Addison County Economic Development Corporation
  • Brattleboro Development Credit Corporation
  • Green Mountain Economic Development Corporation
  • Lake Champlain Regional Chamber of Commerce
  • Montpelier Downtown Community Association
  • Northern Forest Center
  • Chamber & Economic Development of the Rutland Region
  • Southwestern Vermont Chamber of Commerce
  • Vermont Professionals of Color Network

Outreach Track: Grantees will organize events and/or conduct activities that promote their region to prospective residents and/or help new residents feel welcome in their new community. Events can target recently relocated families and individuals or potential new residents to support their relocation to Vermont. This track could also include the creation of regional marketing assets to assist with outreach.

  • Addison County Economic Development Corporation
  • Brattleboro Development Credit Corporation
  • Chandler Center for the Arts
  • Lake Champlain Regional Chamber of Commerce
  • Montpelier Downtown Community Association
  • Southern Vermont Deerfield Valley Chamber of Commerce
  • Northern Forest Center
  • Chamber & Economic Development of the Rutland Region
  • Southwestern Vermont Chamber of Commerce
  • Vital Communities

Bourne’s Energy wins Outstanding Business of the Year Award 2023

Bourne’s Energy wins Outstanding Business of the Year Award 2023

VermontBiz and the Vermont Chamber of Commerce are pleased to announce the winner of the prestigious and highly anticipated Outstanding Business of the Year Award 2023 is Bourne’s Energy. The Award will be presented to Bourne’s Energy at the opening session of the Vermont Economic Conference on January 30th at the UVM Dudley Davis Center.

Bourne’s Energy is an independent, local, family-owned-and-operated energy business that has been around for 75 years. Bourne’s Energy is considered a leading-edge innovator when it comes to the environment and its future.

“For 75 years Bourne’s Energy has been proudly serving the communities of Vermont. We firmly believe that much of our long-term success stems from our commitment to support those who support us – whether that’s sponsoring a community arts program, a scholarship, or lending our support during a flood. Our ‘use less, give more’ mentality is in the fabric of who we are as a family and as a company” said Owner Peter Bourne. Co-Owner Mike Bourne added, “We are honored to receive the Outstanding Business of the Year award. This award is really a reflection on the quality of the people we have. How we work together for our customers is part of what sets us apart. We feel it is our duty as a leader in the fuel industry to forge the path for Vermonters to reduce their carbon footprint with environmentally friendlier heating fuels and high-efficiency equipment that are affordable and easy to implement. I speak for the entire Bourne’s Energy work family in thanking the Vermont Chamber and Vermont Business Magazine for this award.” 

Bourne’s Energy’s company culture is built around the desire to do the right thing. Their prices are fair, their service is excellent, and they go out of the way for their customers.  Their products and services, the fuels they provide, the equipment they sell, and the service plans they offer, are all to help Vermonters consume less fuel, and less carbon. It goes against the grain. But this plan has enabled Bourne’s Energy to work on the business instead of in the business. They have a plan to be green and a plan to do the right thing for the customer. Because it’s what’s right for Vermont.

Bourne’s Energy cares about where they live. Treating others well, along with treating where they live well, is at their core as an organization. As a company, they believe that being active in their community is the best way to grow their company in every way. When they take care of their community, they earn goodwill with residents, and they earn a good reputation as a place people want to work. They support a lot of non-profits and community initiatives.

“This annual award honors a Vermont business that shows an outstanding history of sustained growth in sales and/or employees, a commitment to their community, recognition of the environment as a natural and economic resource for Vermont and the creation of a positive work environment for all employees while displaying an acute awareness of what makes Vermont unique, and Bourne’s Energy certainly exceeded these criteria’s. The award was created 34 years ago by VermontBiz and the Vermont Chamber to recognize and honor the state’s best companies” said John Boutin, Publisher, VermontBiz.

“The list of past winners is a virtual who’s who of businesses in Vermont. We have so many outstanding businesses in Vermont that reflect much of what we see throughout our state’s economy,” said Vermont Chamber President Betsy Bishop.

______________________________

OUTSTANDING BUSINESS OF THE YEAR AWARD WINNERS

[Previously known as the Deane C. Davis Outstanding Vermont Business of the Year Award]

2023      BOURNE’S ENERGY

2022      HICKOK & BOARDMAN INSURANCE GROUP

2021      HEALTHY LIVING MARKET AND CAFÉ

2020      LAWSON’S FINEST LIQUIDS

2019      CHROMA TECHNOLOGY CORP.

2018      GREEN MOUNTAIN POWER

2017      VERMONT MUTUAL INSURANCE GROUP

2016      MARATHON HEALTH

2015      PC CONSTRUCTION

2014      CHAMPLAIN CABLE

2013      DEALER.COM

2012      GW PLASTICS, INC.

2011      FOLEY FAMILY OF COMPANIES

2010      SMALL DOG ELECTRONICS

2009      BIOTEK INSTRUMENTS INC

2008      NATIONAL LIFE GROUP

2007      SYMQUEST GROUP INC

2006      RSG

2005      KING ARTHUR FLOUR

2004      IDX

2003      HUBBARDTON FORGE

2002      NRG SYSTEMS

2001      WILD APPLE GRAPHICS

2000      WAITSFIELD CHAMPLAIN VALLEY TELECOM

1999      CABOT CREAMERY

1998      VERMONT COUNTRY STORE

1997      SMUGGLERS’ NOTCH RESORT

1996      MACKMOLDING COMPANY

1995      VERMONT HEATING & VENTILATING

1994      GREEN MOUNTAIN COFFEE ROASTERS

1993      PERRY RESTAURANT GROUP

1992      MCKENZIE MEATS

1991      C & S WHOLESALE GROCERS

1990      WALLACE ENTERPRISES

House Overrides Bottle Bill Veto

House Overrides Bottle Bill Veto

The House voted to override a veto on last session’s “bottle bill,” setting a new trajectory for beverage container management and raising concerns for manufacturers, distributors, and retailers alike. The bill has the potential to disrupt existing recycling infrastructure with an increase in handling fees and the required participation in producer responsibility organizations. The widened scope of the bill could strain current systems, leading to inefficiencies and increased financial burdens on taxpayers.

The bill rewrites the state’s recyclable beverage container redemption law, redefining the scope of “beverage” and “container,” to incorporate an extensive range of liquid products. It includes the introduction of a 5-cent refund on water and sports drink bottles while imposing a 15-cent deposit on wine bottles by 2027. Additionally, it mandates that manufacturers and distributors take part in a producer responsibility organization that is tasked with managing the collection and disposal of these containers.

House Commerce Committee Hears Economic Data from Vermont Future’s Project

House Commerce Committee Hears Economic Data from Vermont Future’s Project

The first testimony of the session in the House Commerce and Economic Development Committee was from the Vermont Chamber’s foundation, the Vermont Futures Project. Kevin Chu, the Executive Director, presented data on the need to increase the Vermont population to 802,000 by 2035 and housing inventory to 350,000 non-seasonal units by 2035. Members of the committee agreed that we need a new story for Vermont, one that encourages more people to live and work here.

Legislators, many of whom connected with the Vermont Futures Project in recent months during the statewide tour to inform the 2024 Economic Plan for Vermont, expressed enthusiasm for finding innovative solutions to recruit people to live and work in our state. The Vermont Chamber will be working with legislators this session to identify and advance policy solutions to our workforce crisis. In particular, we will continue to advocate on the need for a sustained multi-year investment to expand our image beyond a travel destination. This must be additional funding so that it complements the revenue from our tourism economy, instead of restricting it. This strategic approach to elevate Vermont’s achievements to combat our declining demographics will pay dividends for Vermonters, communities, and state revenue.

Shared Priorities Central in Governor’s State of the State

Shared Priorities Central in Governor’s State of the State

Governor Phil Scott’s address to the General Assembly set the stage for a legislative session that has significant opportunities for collaboration between legislators and the Governor on issues that are top of mind for businesses. Both have said that housing solutions and climate recovery and resiliency measures top their priority lists.

Workforce housing and recovery and resiliency are two pillars of the 2024 legislative business priorities. The Vermont Chamber is continuing to work on solutions for modernizing Act 250 to increase housing development and is encouraging legislators to establish a statutory goal for housing supply. We are also at the table advocating for the replenishment of business recovery programs following this year’s flood disasters and supporting work that prioritizes resiliency measures to help secure stability for the Vermont business community.

As anticipated, Governor Phil Scott’s State of the State address echoed his longstanding commitments to the economic well-being of Vermont and fiscal responsibility. For the past decade, the Vermont Chamber has worked to put a spotlight on Vermont’s severe demographic challenges and Governor Scott expressed his shared deep concern about the accumulating impacts on our workforce, reiterating that “the biggest obstacle we face to economic sustainability, is a shrinking workforce.” The Governor also shared that his proposed budget this year will have a modest 3% increase. The Governor will return to speak to the General Assembly again in three weeks with details on his proposed budget.

Flood Recovery and Resiliency the Central Issue for Legislators

Flood Recovery and Resiliency the Central Issue for Legislators

Committees in both the House and Senate took testimony this week on the July flooding and the ongoing impacts of climate change in Vermont. Discussions in the Senate Economic Development, Housing, and General Affairs Committee highlighted the connection between housing challenges and climate impacts. Encouragingly, the focus was not solely on where not to build, but also on identifying suitable areas for development. Witness testimony stated that the triumph of Irene was the reopening of roads and bridges, while the triumph from the July flooding needs to be the building of new housing outside of floodplains.

In a joint hearing, the House Environment and Energy Committee collaborated with the House Transportation Committee to also address flooding and climate resilience concerns. The discussion focused on conserving and restoring landscapes, including wetlands and floodplains, to mitigate storm impacts. Notably, nature-based solutions were recognized for their dual benefits in reducing flood risk and enhancing community recreation. The Vermont Chamber will be advocating for continued resources for flood-impacted businesses and for policies that increase resiliency while also building housing.  

The Wellspring Forum Connects Senator Peter Welch with Business Leaders

The Wellspring Forum Connects Senator Peter Welch with Business Leaders

Senator Peter Welch addressed the Vermont Chamber Board of Directors and other Vermont business leaders at the Wellspring Forum series which was held at KORE Power in Waterbury. The event series, hosted by the Vermont Chamber, regularly brings together top Vermont business and policy leaders for robust economic discussions. Each event takes place at a unique Vermont business and is moderated by Vermont Chamber President, Betsy Bishop.

“The Vermont Chamber is proud to build on our record of advancing the Vermont economy by connecting Vermont business leaders with Senator Welch and facilitating an opportunity for robust policy discussions,” stated Bishop. “We remain grateful for Senator Welch’s willingness to meet businesses where they are, and for taking their concerns back with him to Washington D.C.”

Senator Welch was in person at the facilities of KORE Power to answer audience questions and address employer concerns. Business leaders asked the Senator to speak to opportunities for federal solutions on middle-income workforce housing, affordability, immigration, and other national economic stability concerns. The Senator also applauded the leadership of Vermont businesses on climate security and innovation.

“The Vermont Chamber’s Wellspring Forum provided the opportunity to hear directly from business owners about so many issues that are directly impacting Vermont’s business community. We discussed the importance of providing targeted disaster relief to businesses impacted by the brutal flooding this summer, efforts to strengthen our workforce, our continued fight to combat climate change, and federal actions to expand access to health care and childcare,” said Senator Welch. “I will continue to bring the voices and concerns of Vermonters with me to Washington and keep working to level the playing field here in the Green Mountain State.”

Following the forum, business leaders from across Vermont toured the KORE Power facility to learn more about the leading U.S.-based developer of battery cell technology and integrated solution manufacturer for the energy storage and e-mobility sectors.

“As New Englanders, we’re particularly proud to engineer solutions that advance energy independence and reliability,” said KORE Power President Jay Bellows. “With Senator Welch’s support of federal policies like the IRA, solutions built by our team here in Vermont that deliver those benefits are in demand across the nation.”

The event title is inspired by Governor James H. Douglas’ quote; “I am often reminded that the wellspring of Vermont liberty flows from Main Street, not State Street.”

This Wellspring Forum was made possible by the support of the following sponsors:

Solutions for Recruiting and Retaining Workers

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

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.