Guest Perspective: “Sharing the Message on Bridging the Digital Divide with Rural Broadband”

June 23, 2023May 25, 2023

Guest Perspective: “Sharing the Message on Bridging the Digital Divide with Rural Broadband”

By Roger Nishi, Vice President of Industry Relations, Waitsfield and Champlain Valley Telecom

In the past few weeks, Waitsfield and Champlain Valley Telecom (WCVT) had the opportunity to share its perspective on rural broadband in two ways. First, I had the honor of testifying in front of the United States Senate Committee on Agriculture Subcommittee on Rural Development and Energy. I am grateful to have had the opportunity to share my insights and experiences in the field while representing WCVT and Vermont. The hearing focused on rural broadband and its role in connecting our communities to the digital economy.

At this hearing, Senator Welch introduced the ReConnecting Rural America Act with Senator Roger Marshall of Kansas, to ensure that rural unserved communities receive the same level of service that is available to urban customers. Secondly, WCVT hosted Senator Peter Welch on a job share to get out into the field to see firsthand the challenges we face in building fiber-optic broadband in rural communities.

At WCVT, we strongly believe in the programs offered by the United States Department of Agriculture (USDA), particularly the Rural Utilities Service (RUS). Throughout our history, we have had a fruitful relationship with the USDA, including its predecessor agency, the Rural Electrification Administration (REA). In Vermont, we have witnessed firsthand the impacts USDA programs can have on our communities.

In the 1960s, with the support of REA loans, WCVT upgraded our network to provide direct dial telephone service and convert all customers to single-party lines. In 2010, we were awarded a significant grant and loan through the RUS Broadband Initiatives Program (BIP), which allowed us to bring fiber-to-the-home technology to over 740 homes and businesses. These investments have transformed our network, providing better service and higher speeds to our customers.

During my testimony, I emphasized several key areas where USDA can further support rural networks:

Future-Proofing with Fiber: To ensure the long-term viability of rural networks, it is crucial to prioritize fiber optic infrastructure. Fiber is the most reliable and scalable technology, capable of meeting the growing demands of our customers. I advocated for maintaining a minimum speed requirement of 100/100 Mbps for eligible projects, as this ensures the deployment of fiber networks. Fiber is truly the future, and we need to embrace it for all rural areas.
Consider Track Records: When allocating funding, it is important to consider the experience and track records of providers. Companies that have a proven history of building and expanding networks in rural areas should be prioritized. Grant application scoring should not penalize commercial companies, as they play a vital role in connecting our communities.
Accurate Mapping and Efficient Permitting: To avoid duplicative funding and overbuilding, it is crucial to have accurate mapping of unserved areas. This will help direct resources where they are needed most. Additionally, streamlining the permitting process and ensuring sufficient staffing will prevent unnecessary delays in project implementation.

In addition to USDA programs, I highlighted other factors that impact rural broadband, such as the Universal Service Fund (USF) and the need to pass legislation like S.341, the Broadband Grant Tax Treatment Act. USF plays a crucial role in ensuring sustainable networks and keeping rates affordable for rural consumers. The Broadband Grant Tax Treatment Act aims to prevent the taxation of grants received by commercial companies, allowing the funds to be fully utilized for network expansion.

Lastly, I emphasized the importance of the Affordability Connectivity Program (ACP) in providing equitable access to broadband. Adequate funding for ACP and an increase in the per-customer amount will help bridge the affordability gap and ensure that all rural residents can benefit from reliable and affordable internet services.

USDA’s broadband programs are instrumental in connecting rural Vermont communities to the digital economy. With a focus on future-proofing networks, considering track records, accurate mapping, efficient permitting, and supporting complementary programs, we can make significant strides in bridging the digital divide.

The full hearing is available to watch, here.

About the Author: Roger Nishi is the Vice President of Industry Relations at Waitsfield and Champlain Valley Telecom and has over 36 years of industry experience. Roger currently serves on the board of directors for the Telecom Insurance Group and is an active member of NTCA – The Rural Broadband Association’s Industry and Regulatory Policy committee and NECA’s Cost Issues Task Group. At WCVT Roger represents the company’s interest on regulatory and political issues at both the state and federal level. He is also a member of the Vermont Chamber of Commerce Board of Directors.

About Waitsfield and Champlain Valley Telecom: Waitsfield and Champlain Valley Telecom is an independent, privately owned telephone company serving the Mad River and Central Champlain Valley regions of Vermont. Locally owned and operated, Waitsfield Telecom has been providing telephone service to the Mad River Valley since 1904.

May 25, 2023

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June 30, 2025

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26 Ways Legislative and Executive Action or Inaction Could Impact Businesses After the 2025 Session

June 19, 2025

31 Ways Legislative Action or Inaction Could Impact Businesses After This Session

June 23, 2023May 19, 2023

31 Ways Legislative Action or Inaction Could Impact Businesses After This Session

Record-high spending in recent years has been possible due to the influx of one-time federal funding for pandemic relief. However, legislators seem determined this session to maintain record levels of government spending with new revenue sources, even amid historical economic uncertainty. Despite a session underscored by new and increased taxes on both individuals and businesses, several crucial bills that will address business needs also made their way through the legislative process. A full recap of session highlights is available below.

Total cost increases for Vermonters will amount to $150 million. A far cry from the $1 billion in proposals by legislators at the start of the session, this is still an unsustainable figure with an expected economic downturn approaching.*

The first-ever state payroll tax was passed, adding to Vermont’s already high tax burden. Working Vermonters are set to pay $100 million annually.*

Fuel costs could increase by 70 cents a gallon with the creation of the Clean Heat Act, giving the Public Utility Commission two years to create a credit and trade market for renewable fuel sales.

Vermont’s only business incentive program is extended. The Vermont Employment Growth Incentive program was rerouted from legislation that was originally intended to effectively end the program.

A pandemic innovation, alcohol-to-go will remain legal for businesses to sell for two more years.

Bars are back in business after an outdated state statute was amended which will allow businesses to obtain liquor liability insurance more easily.

Small businesses will not have to shoulder the added weight of subsidizing premiums for the individual healthcare market. The individual and small group markets will remain separated through 2025.

70% of Vermont jobs don’t require a college degree, but no legislative action was taken to address the needs of Vermont’s career and technical education system.

Military retiree pensions will remain largely taxable. The Legislature did not act to leverage a full exemption as a workforce solution.

Data on short-term rentals will have to wait another year. The statewide rental registry proposal was relegated to a study.

DMV fees are set to increase across the board by $20 million.*

Licensure and renewal fees through the Office of Professional Regulation will be increasing for many of Vermont’s regulated professions.

Property taxes are expected to increase by an additional $30 million with an increase in state funding for nutrition programming.*

Over 150 new positions were created within the State of Vermont, amid a severe workforce shortage. This will increase the competition with businesses looking for employees. *

Broadband buildout received $20 million to boost service with over $100 million in the NTIA Middle Mile Broadband Infrastructure Program to expand access to high-speed internet.*

Homeownership remains elusive for middle-income Vermonters, but $10 million of funding in the BAA for the Missing Middle-Income Homeownership Development Program will help.

Employer housing investment opportunities will be created through a revolving loan fund for middle-income renters.

Business infrastructure funding was allocated to local development corporations to the tune of $5 million for business relocation and expansion efforts, including the purchase, demolition, and renovation of property for industrial use.*

Rural infrastructure capacity funding of $3 million is slated to help underserved communities access and allocate federal ARPA funding for projects.

Child Care Financial Assistance Program (CCFAP) funds will be available to use regardless of provider STARS rating, increasing access to the subsidies.*

Expedited smart growth housing development will be possible due to an omnibus housing bill that reduces local zoning barriers and expands Act 250 exemptions.

A Trump-era tax on business was upheld, with the workaround derailed in the final days of the session. The State and Local Tax (SALT) cap deduction workaround was a fix that was estimated to bring $1.7 million in state revenue annually and would have saved Vermont businesses $20 million in federal taxes.*

Advanced manufacturing businesses will be able to send workers to Vermont State Colleges for a certificate in 3-D technology from a $1.5 million appropriation.*

Young professional recruitment efforts will get a bump with $1.5 million towards loan forgiveness for recent college graduates who commit to working in Vermont for two years following graduation. Each eligible student is set to receive up to $5,000.*

Refugee employment assistance earned $1 million of funds allocated to the State Refugee Office for the Employment Assistance Grant Program.*

Efforts to upskill workers received $1.5 million to educate Vermont residents seeking to transition to a new career or to enhance job skills through the University of Vermont’s Upskill Vermont Scholarship Program.*

Technical assistance funding of $1.25 million was provided to the Regional Development Corporations to provide small and mid-sized businesses with professional and technical assistance. *

Brownfield remediation projects will get another $8 million in funding for the assessment, remediation, and redevelopment of sites.*

Upward pressure on system costs is expected from increases in worker’s compensation and temporary partial disability benefits.

The Treasurer’s Office will create a state-run retirement program by 2025 for employees of Vermont businesses. The program will put 5% of an employee’s earnings into an IRA but includes an opt-out provision.

A 100% raise for legislators will see pay and benefits double for members of the House and Senate. This was done, in part, to entice more people to run for office. Any takers? *

* Legislation related to these topics remains in play and is pending final action from the Legislature. While the fate of most items can be anticipated, there is a caveat that these issues remain in flux until the veto session.

May 19, 2023

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Vermont Chamber Joins 430+ Business Groups Calling for Action on Immigration

May 5, 2023May 3, 2023

Vermont Chamber Joins 430+ Business Groups Calling for Action on Immigration

The Vermont Chamber signed a letter to members of Congress urging them to make immigration reform a top priority to address the workforce crisis. Vermont employers of all sizes and across all industries are facing chronic workforce shortages that significantly limit the ability of their businesses to grow. In an increasingly competitive marketplace, the vast shortcomings of our legal immigration system are a key contributing factor as to why employers are struggling to recruit and retain talent. In addition to the Vermont Chamber, the letter was supported by 430 business associations from all 50 states, spanning a host of industries, including healthcare, manufacturing, restaurants, hospitality, retail, construction, agriculture, engineering, and food processing, among others.

Vermont businesses would welcome immigration reform solutions such as suspending the cap on H-2B visas until the domestic labor force stabilizes, expediting interviews for J-1 applicants supporting the hospitality industry, and applying a blanket National Interest Exemption to all existing J-1 visa holders when they seek admission to the U.S. at a port of entry. As advocates for advancing the Vermont economy, we recognize the wasted opportunity that failed national immigration policy has caused. Breakdowns in our immigration system, deliberately imposed or resulting from inaction discourage economic activity, and restrict workforce development. An immigration system that meets the needs of our economy and reflects Vermont’s values is essential to ensuring an economically secure future for Vermont.

The full letter and list of signatories are available, here.

May 3, 2023

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Your Voice Matters: Legislature Considering $461 Million of New Taxes and Fees

April 11, 2023

Your Voice Matters: Legislature Considering $461 Million of New Taxes and Fees

Right now, legislators are considering a sweeping influx of new taxes and increased fees without reflecting on the long-term impacts it will have on their constituents. We are deeply concerned that Vermonters will be unable to weather the nearly half a billion in increased costs over the next two years that the Legislature is poised to pass this session.

We want to be sure Vermonters understand what is being proposed. Currently, the following cost increases have the support of the Legislature:

Multiple payroll taxes
Significant increase in DMV fees
Entirely unknown upfront costs imposed by the Affordable Heat Act

The Legislature is also considering leveraging the following taxes and fees:

Service Tax
Cloud Tax
Professional Regulation Fees

Vermonters are already experiencing inflation, shortages of basic goods due to supply chain disruptions, and scarcity of essential services due to workforce shortages. This is compounded by a severe lack of available childcare and housing statewide. Many legislators believe that now is the time to raise new payroll, business, and consumer taxes to pay for new and expansive programs, but each issue the legislature celebrates comes at a price. Vermont can be a leader on major initiatives without placing an undue burden on voters.

We remain dedicated to advocating for the legislature to pass bills that are rooted in the economic reality of Vermont. Contact your State Representatives and Senators today and encourage them to strike a balance between spending on new programs and taxing Vermonters.

April 11, 2023

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Vermont and Québec Leaders Celebrate a Decade of Collaboration on Trade Corridor

June 23, 2023April 10, 2023

Vermont and Québec Leaders Celebrate a Decade of Collaboration on Trade Corridor

The Vermont Chamber attended Aéro Montréal’s Global Aerospace Supply Chain Summit and BCI’s Aeromart Montréal Tradeshow and Conference for Aerospace and Defense to celebrate the 10^th anniversary of a collaboration agreement between Aéro Montréal and the Vermont Aerospace & Aviation Association, a division of the Vermont Chamber. Over the past decade, the Vermont Chamber has championed the Vermont – Québec Aerospace Trade Corridor, which links Vermont’s $2 billion aerospace manufacturing and civil aviation industry with the $17.8 billion Québec aerospace cluster. Recently, the Corridor was extended to include Connecticut and expanded to Ontario.

In both English and French remarks, Chris Carrigan, VP of Business Development for the Vermont Chamber stated, “Over the past decade, the Vermont Chamber and Aéro Montréal have brought our suppliers together to maintain our business relationships and identify new opportunities. We have thus created, over the years, an integrated cross-border supply chain, as well as a regional and international supply chain hub. It unites us not only in business but also to ensure our security and prosperity.”

Mélanie Lussier, President and CEO of Aéro Montreal stated, “Ten years later, I have to say that working with the Vermont Chamber has far exceeded our expectations. For our members, these collaborative agreements ensure access to new markets, innovation, contacts, and aerospace opportunities. I am a firm believer in the continuing power of this collaboration.”

Vermont’s aerospace sector was well represented at the international event, with a delegation featuring Concepts NREC, Dynapower, Lucas Industries, North Country Engineering, Stephens Precision, and Web Industries. Additional key partners attending in support of the trade corridor included the Vermont Agency of Commerce, U.S. Commercial Service, our new Montréal Office for Vermont, CIDEP, Investissement Québec, B2B/2GO, Aerospace Components Manufacturers (ACM), and the Ontario Aerospace Council (OAC).

April 10, 2023

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Guest Perspective: “The State of Trade”

March 28, 2023

Guest Perspective: "The State of Trade"

By Jake Holzscheiter, President & CEO, A.N. Deringer, Inc.

As we consider the current state of trade, it’s worth a look back at early 2020 when international trade was running on all cylinders. We experienced a Covid-cargo surge that outgrew the capacity in the market at that time. This caused shipping rates to skyrocket to historically high levels. Not only were U.S. importers paying higher rates, but they were also experiencing the worst service and extensive delays throughout the supply chain.

Fast forward to today –cargo volumes as well as rate levels have dramatically declined since late 2022, and this downturn is continuing. The positive news for importers is that rate levels are back to pre-pandemic levels (2019) and the ocean vessel reliability is tracking in the right direction with less cargo moving. However, there are still challenges:

Ocean carriers are attempting to control capacity through ‘blank sailings.’ (A blank sailing is when carriers remove vessels from weekly service. This creates an influx of cargo for the next sailing, which in turn allows the vessels to fill up, and provides carriers an opportunity for increased revenue.) Blank sailings result in delayed shipments for importers.
During the pandemic, ocean carriers experienced very high revenue. Many ordered larger ships to keep up with demand. These new, larger vessels are starting to hit the market now, and will continue to deploy into 2024. This is happening just as global trade volume is on a downward trend, so we will need to monitor how larger vessels and softer market conditions will shake out for the remainder of this year.
During the pandemic, importers filled their U.S. warehouses with goods, backfilling inventory due to concerns with the supply chain. Many believe demand will pick up in Q2 and Q3 – as stocks run low, consumer needs for new goods renews, and the 2023 holiday season approaches.

Other positive news is the once-stretched supply chain is recovering due to less inbound cargo. This allows the terminals and rail yards to clear up congestion and get back to a normal operating environment.

Specific to Vermont and Canada, the Canadian dollar remains weak and is expected to stay that way, or possibly weaken further through the remainder of the year. While this is positive news for those looking to source goods from Canada, is not as good news for those exporting and sending materials to Canada. It is also not an ideal situation for the Canadian shopper looking for retail deals across the border here in Vermont.

About the Author: A Certified Customs Specialist and a Licensed Customs Broker, Jake has been with A.N. Deringer, Inc. for more than 30 years. His many roles have involved day-to-day operations management, training and innovation development, and high-level compliance and trade support for Deringer clients across the US and around the world. Jake Holzscheiter is a member, and former Chair, of the Vermont Chamber Board of Directors.

About A.N. Deringer, Inc.: A.N. Deringer, Inc.is the largest, privately-held Customs broker in the US, providing integrated supply chain solutions for customs brokerage, international transportation, warehousing and distribution, customs compliance consulting, and USDA meat inspection.

March 28, 2023

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Tourism Day at the State House Centers the Visitor Economy and Destination Stewardship

March 28, 2023March 22, 2023

Tourism Day at the State House Centers the Visitor Economy and Destination Stewardship

Following a pandemic hiatus, Tourism Day at the State House returned for the first time since 2020. Over 150 tourism and hospitality industry leaders were present throughout the day to engage with legislators and raise awareness of the collective contributions of these industries to the Vermont economy.

The day was centered on the Vermont visitor economy and destination stewardship and management. Business and policy leaders connected throughout the day during a coffee hour with Governor Scott, a joint hearing on the visitor economy with the House Commerce and Economic Development and the Senate Economic Development, Housing, and General Affairs Committee, and an evening reception.

Rep. Stephanie Jerome (Rutland-9), a stalwart supporter of the tourism industry, offered House Resolution, H.C.R.52. “The Vermont visitor economy is an incredible asset. It draws visitors to our towns, supports our local businesses, and is one of our largest employers. It generates tax revenues and creates jobs, it unlocks wide-ranging economic activity in both our rural and urban communities,” stated Rep. Jerome.

“The Vermont Chamber was proud to once again convene industry leaders for Tourism Day at the State House,” said Amy Spear, Vice President of Tourism for the Vermont Chamber of Commerce. “The Vermont visitor economy is an incredible economic asset for Vermont. 13 million annual visitors contribute $3.2 billion in spending and support over 30,000 jobs, 10% of Vermont’s total workforce.”

Business leaders reflected on the ongoing economic impacts of the pandemic and reinforced that collaboration is integral to the success of their businesses, and communities.

“We continue to find new ways to operate against the constant stresses of high labor and high food costs, a scarcity of applicants, continuing supply chain issues, and low margins. Even with these setbacks, many of us are optimistic,” stated Leslie McCrorey Wells of Pizzeria Veritas and Sotto Enoteca. “Like many of my restaurant peers, I feel a deep sense of commitment to the communities that surround and support our businesses, and I see the impact that our organizations and businesses have on the quality of life in Vermont.”

“Every part of our state was represented today because tourism is a vital economic driver that crosses many sectors,” stated Anna Rubin of Fairbanks Museum & Planetarium. “The Fairbanks Museum remains strong because of its connections with the community and recognizes that investments in our business have a wider impact on not only visitors but of the Northeast Kingdom at large.”

“The sense of community in Killington has become one of a kind. The resort and local businesses work together to speak with a unified voice and market the region together as a team,” stated Amy Laramie of Killington Resort and Pico Mountain. “I am grateful for the community in this industry and to be able to call a region where many people vacation, my home.”

Additional business leaders that testified in the joint hearing were Nick Bennette of Vermont Mountain Bike Association, Mimi Buttenheim of Mad River Distillers, Karen Nevin of Revitalizing Waterbury, and Kim Prins of Seesaws Lodge.

Industry leaders also testified in the House Agriculture Committee, including Tara Pereira of Vermont Fresh Network, David Keck of Stella Wines, Clara Ayer of Fairmont Farms, and Nick Managan of Cabot Creamery. Senate Education Committee received testimony from Molly Mahar of the Vermont Ski Areas Association and Jen Roberts of Onion River Outdoors.

The event was produced in partnership with several advocacy organizations, including Ski Vermont and the Lake Champlain Chamber of Commerce.

March 22, 2023

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Vermont Chamber Convenes Economic Roundtable with Federal Reserve Bank of Boston

March 3, 2023

Vermont Chamber Convenes Economic Roundtable with Federal Reserve Bank of Boston

Vermont business leaders met with the President of the Federal Reserve Bank of Boston, Susan Collins at King Arthur Baking Company in White River Junction as part of her ongoing visits around New England to gauge economic conditions. The meeting, convened by the Vermont Chamber of Commerce, provided an opportunity for Vermont business leaders to discuss the state’s economic challenges and opportunities.

President Collins expressed the importance of hearing directly from business owners, to ensure the Boston Federal Reserve has a well-rounded analysis of the state of the economy.

“Reaching out to and interacting with a range of stakeholders has been a priority for me since joining the Boston Fed last year,” stated President Collins. “In addition to hard numbers and surveys, information gathered on the ground about how businesses and workers are faring greatly informs my assessment of economic conditions. The views my team and I hear from around the New England region provide an important window into how well the economy is functioning for everyone.”

“The Vermont Chamber was proud to welcome President Collins to Vermont and connect her with a diverse group of leaders that represent the breadth of business in our state,” said Betsy Bishop, President of the Vermont Chamber of Commerce. “Across industry, county, and size, every business shared how they’ve had to adapt in today’s unpredictable economy. The theme throughout the conversation was the severe impacts of ongoing inflationary pressure.”

Business leaders reflected on the impact of inflation on wage growth and the move toward automation amid the inability to hire workers, as well as the lingering impacts of the pandemic on the economy.

“Revenue is up this year, however, expenses are also up. We have consistently increased our base wages between 20% and 30% each year for the past two or three years,” stated Lindsay DesLauriers of Bolton Valley. “Our operating expenses have also gone up significantly with inflation, so that we are actually behind last year right now on the bottom line. Furthermore, despite the increases we’ve made to wages and efforts we’ve made to add additional benefits, we continue to struggle to find enough staff to hire. While there is much to be proud of and optimistic about, obviously we can’t keep on this inflationary trendline indefinitely.”

“The inability to recruit and retain talent means we can’t fully staff a second shift, let alone add a third shift,” stated Alberto Aguilar of Carris Reels. “Instead, to meet demand we’re exploring how to invest in automation which is becoming crucial to the ability for us to sustain our manufacturing operations here in Vermont.”

“As young business owners, this ‘new normal’ is our reality our challenge” stated Travis Samuels of Zion Growers. “My generation’s attitudes toward work culture, consumerism, and the global supply chain have all changed and we as business owners are having to constantly adapt and pivot. Still, the reality is that there remains a great deal of uncertainty in the economy for newer businesses and it can be difficult to overcome the post-pandemic, financial, and local economic challenges.”

Additional business leaders in attendance; Karen Colberg (King Arthur Baking Company), Mark Foley (Foley Services), Jay Benson (Simon Pearce), Leslie McCrorey Wells (Pizzeria Verità, Trattoria Delia, and Sotto Enoteca), Alberto Aguilar (Carris Reels), Neale Lunderville (VGS), Melvin and Demaris Hall (Global Village), Dr. Sunil “Sunny” Eappen (UVM Medical Center), and Renee Bourget-Place (KPMG – Vermont).

March 3, 2023

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The Wellspring Forum Features Sen. Ann Cummings, Chair of the Senate Finance Committee, and Rep. Emily Long, House Majority Leader

February 13, 2024March 1, 2023

The Wellspring Forum Features Sen. Ann Cummings, Chair of the Senate Finance Committee, and Rep. Emily Long, House Majority Leader

The successful Wellspring Forum series continues to bring together top Vermont businesses and policy leaders for robust economic discussions. Each event takes place at a unique Vermont business and features new speakers.

The third event in the series featured the chair of the Senate Finance Committee, Sen. Ann Cummings (D-Washington), and House Majority Leader Rep. Emily Long (D-Windham-5). The legislative leaders addressed the Vermont Chamber Board of Directors and other Vermont business leaders via a moderated conversation with Vermont Chamber President, Betsy Bishop.

In addition to ongoing workforce and housing concerns, the top issue discussed by businesses was the cumulative impact of anticipated tax increases to fund the multiple major proposals in discussion this legislative session. Businesses urged legislative leaders to consider the ability of Vermonters to meet an increased tax demand and the potential for unintended consequences if businesses are unable to do so.

“During a time of great uncertainty, we need to value economic stewardship,” stated Bishop. “As goes the success of small businesses, so often goes the success of our communities. While legislative committees are working on multiple major investments that require new revenue streams, the Vermont Chamber is advocating for pragmatic decision-making, so the Vermont economy is not overwhelmed.”

Sen. Cummings and Rep. Long spoke on several policy issues of interest to Vermont businesses, such as maintaining the small group and individual healthcare markets, solutions to address the ongoing workforce shortage, middle-income housing investments, and the future of the Vermont Employment Growth Incentive program.

“The key to moving policy forward is always balance, and businesses, just like people, sometimes need a lift,” stated Sen. Cummings. “The economy needs to thrive, and the ability to grow business is the difference between Vermont being a place to live and becoming a theme park, only an attraction to visit.”

“Hearing from Vermonters and advocacy groups is critical to the success of what we do,” stated Rep. Long. “I look forward to continuing our collaboration to achieve shared goals. We want to pass a balanced budget that supports Vermonters and businesses in all 14 counties.”

The event was hosted by National Life Group and took place at their Montpelier office.

“National Life has been part of the fabric of this state for 175 years,” National Life Group Chairman, CEO, and President Mehran Assadi said. “The biggest challenge for us is the labor force. We currently have more than 120 open positions to fill.”

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:

March 1, 2023

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2023 Vermont Economic Conference Provides Outlook for the Year Ahead

February 1, 2023January 31, 2023

2023 Vermont Economic Conference Provides Outlook for the Year Ahead

The Vermont Chamber of Commerce’s annual Vermont Economic Conference made its in-person return with over 200 business and policy leaders gathering at the University of Vermont Dudley H. Davis Center for an in-depth look at national, global, and state perspectives on the economy as well as the latest economic indicators for business growth.

“The Vermont Chamber understands what it takes to help businesses grow and thrive to build strong, vibrant, communities, and our members have trusted us with this work to be stewards of the Vermont economy. Events like the Vermont Economic Conference help ensure a viable future for our state and achieve our mission of advancing Vermont’s economy,” said Vermont Chamber President Betsy Bishop. “This event is one of many we hope to bring back in-person so that stakeholders from all industries, across every corner of the state, can continue to come together to learn from each other, support each other, create solutions, and work together.”

Senator Peter Welch delivered remarks and reaffirmed his commitment to being a champion for Vermont businesses, stating, “My goal in Washington is to help make it possible for Vermont families to do their work, live good lives, and uphold the traditions that make us proud to be Vermonters. I’ll continue to champion the affordability issues I’ve led in the House, while serving as an advocate for our farms on the Agriculture committee and working to protect our democracy as a member of the Judiciary and Rules committees. I’ll do everything I can to help Vermonters thrive and support the state we love.”

Two keynote speakers headlined the conference, Gus Faucher, Senior Vice President, and Chief Economist for PNC Financial Services Group, and Eva McKend, National Political Reporter for CNN. Faucher is a returning favorite at the Vermont Economic Conference, he provided his signature address, entitled, “National Economic Trends: Balancing Inflation, Consumer Spending, and Employment.” McKend, who previously reported for WCAX returned to Vermont to reflect on her time covering the recent midterm elections and the Washington, DC discourse on economic issues such as inflation and immigration in her keynote entitled, “Balance of Power: A Post-Election Economic Outlook.”

The event also provided an international economic outlook from Ken Kim, Senior Economist for KPMG, a presentation on Vermont demographics, population, and workforce data from Mat Barewicz, Economic & Labor Market Information Chief for the Vermont Department of Labor, and a breakdown of the state budget from Commissioners Adam Greshin and Craig Bolio.

The agenda closed with the presentation of the 2022 Outstanding Business of the Year Award to Hickok & Boardman Insurance Group. The award was presented by the Vermont Chamber of Commerce and VermontBiz and accepted by Scott Boardman, CEO, and Paul Plunkett, President & COO, on behalf of the business.

January 31, 2023

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