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

2. 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”...

3. Current Conditions-Vermont

4. Current Conditions-Vermont

5. Vermont Forecast Update

6. 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.