Economic & Policy Resources, Inc. Vermont Jeffrey B. Carr President Economic & Policy Resources, Inc.

Current Conditions--Vermont Labor market recovery continues, but it has recently been a “bumpy road.” One step forward, two-back, and then another forward... This sound more like a dance routine than what should be used to describe a state labor market recovery. Layoff activity in the factory sector over the last year has been the chief culprit for the sideways labor market developments since January (e.g. IBM--Now a rumor of a possible IBM sale to Global Foundries?). Still nearly “90% recovered” in competition with other NE states for #2 recovering state in the region. Housing-Construction still lagging; VT Food Mfg. is a plus; the state Unemployment rate remains “low”...

Current Conditions-Vermont

Current Conditions-Vermont

Vermont Forecast Update

Conference Theme--Vermont Vermont faces many of the same challenges in economic development that the other NE states do. Recently, VT completed a CEDS process at the invitation of the U.S. EDA. State completed roughly a year-long process to more strategically organize its resources and compete for federal funds—uses 4 goals (around 12 key sectors): Provide accessible financing and capital, Ensure a skilled workforce, Provide critical infrastructure to facilitate economic development, Ensure a competitive business environment. The five filtering criteria for key sectors reflect a mix of economic growth potential and state policy goals Sectors include: Advanced Mfg.; Arts-Culture, Biotech, Software-IT, Food Mfg., Food Systems, Green Business, Education; Forest Products; Health Care; Renewables-NRG Efficiency, Financial Services-Ins.; and Tourism.