Focus Builds on Act 250 Modernization Efforts

Focus Builds on Act 250 Modernization Efforts

With three different Act 250 modernization proposals under discussion in three different committees, stakeholders are optimistic that this could be the year for meaningful reform that includes exemptions. The BE Home bill, H.687, and S.308 each lay out a tiered approach to Act 250 jurisdiction, but differ in the details of how those tiers will be determined and what they include. The Vermont Chamber is encouraging collaboration and voicing support for policies that incentivize new development in and around our community centers as outlined by the Vermont Natural Resources Board report on necessary updates to Act 250.

The Vermont Chamber testified throughout the week before the House Energy and Environment Committee, advocating for sizable, planned growth area designations throughout the state. These would designate both large and small communities, include Act 250 exemptions, and should be large enough to build a substantial number of resilient housing units. Clear housing goals and a comprehensive data-informed plan must be established to address the changing demographic and housing needs. Legislators have an opportunity to leverage resources such as the Vermont Futures Project and VHFA’s Housing Needs Assessment to inform their decisions.

Immigration and Artificial Intelligence Highlighted at the 2024 Vermont Economic Conference

Immigration and Artificial Intelligence Highlighted at the 2024 Vermont Economic Conference

The Vermont Chamber of Commerce’s annual Vermont Economic Conference convened more than 200 business and policy leaders for a day of insightful presentations, engaging discussions, and valuable networking opportunities. The agenda provided attendees with an in-depth look at national and state perspectives on the economy as well as the latest economic indicators shaping Vermont’s business landscape.

“We are proud to build on our record of convening Vermont businesses to provide resources that help the community navigate a rapidly evolving landscape,” said Vermont Chamber President Betsy Bishop. “In addition to economic outlook presentations by top economists, it was important to us that the agenda featured two of the leading issues for the year ahead. Artificial intelligence is reshaping industries and redefining the way we do business, while the immigration-to-workforce pipeline is a crucial opportunity for our state.”

A panel discussion entitled “Leveraging Vermont’s Immigration Experience to Solve Workforce Needs,” included Leslie Holman of Holman Immigration Law, Tracy Dolan of the State of Vermont Refugee Office, Julia Birnn Fields of Birnn Chocolates of Vermont, and was moderated by Adam Grinold of the Brattleboro Development Credit Corporation. The expert stakeholders provided insight into the economic contributions of immigrants to Vermont, the importance of workforce development and diversity, and the impact of immigration policies on local businesses and communities.

The event also featured Alec Newcomb, the Founder of ScaledOn, who delved into the theory of artificial intelligence and shared practical applications for businesses looking to harness its potential. The interactive presentation gave attendees the resources necessary to understand the theory of the technology and practical applications for businesses looking to harness its potential.

TD Bank Senior Economist Leslie Preston presented valuable insights into the broader U.S. economic landscape, with a presentation on national trends and their impact on the future. This was complemented in the agenda by Mat Barewicz, Economic & Labor Market Information Chief for the Vermont Department of Labor who presented on the state economic outlook.

The event opened with the presentation of the 2023 Outstanding Business of the Year Award to Bourne’s Energy. The award was presented by the Vermont Chamber of Commerce and VermontBiz and accepted by Peter Bourne on behalf of the business.

Chair Kornheiser Unveils New Tax Package

Chair Kornheiser Unveils New Tax Package

House Ways and Means Committee Chair Rep. Emilie Kornheiser (D-Brattleboro) announced her new tax proposals shortly after the Governor’s budget address. These new taxes come into consideration as businesses and workers will soon feel the $100 million first-ever state payroll tax to be levied starting July 1. This tax proposal is also in tandem with statewide concern for double-digit property tax increases and the confusion around how school spending works.

New taxes that have been introduced include:

  • A wealth tax of 3% aimed at tax filers, filing single or jointly, earning over $500,000.
  • A new personal income tax on unrealized capital gains.
  • Moving to a worldwide combined reporting corporate tax.
  • A cloud tax containing tax on software as a service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS).

Raising these taxes will not reduce the tax burden on middle-income Vermonters. To make meaningful progress on improving affordability for middle-income Vermonters we can instead address the root causes of what is making the state unaffordable. The Vermont Chamber will continue to raise concerns about these tax proposals and share with businesses with the potential impact they would have on the Vermont economy in the weeks ahead.

Governor Presents FY25 Budget Focused on Affordability for Vermonters

Governor Presents FY25 Budget Focused on Affordability for Vermonters

Governor Phil Scott delivered his eighth budget address to the General Assembly, presenting a $8.6 billion budget across all funds. The budget focuses on strategic investments, maintaining current services, and sustainable growth without imposing new taxes or fees on Vermonters. The Governor emphasized the need for disciplined budgeting, highlighting organic revenue increases as essential for lasting economic growth. Acknowledging affordability, public safety, and housing challenges, he proposed new initiatives to address each.

Despite unexpected obligations, such as FEMA match payments, the Governor stressed the importance of smart, strategic investments showcased during the post-pandemic period. The budget aligns with fiscal reality, prioritizing fundamentals, and includes ongoing workforce, economic, and community development investments. Governor Scott urged lawmakers to work collaboratively on a balanced approach, encouraging middle-ground solutions that address challenges without burdening Vermonters financially.

Bottle Bill Veto Upheld in Senate

Bottle Bill Veto Upheld in Senate

The Governor’s veto of a bill that would have rewritten the state’s recyclable beverage container redemption law was upheld in the Senate by a vote of 17 in favor to 13 against. A veto override would have required two-thirds to vote in favor. The vote to uphold the Governor’s veto comes despite a Democratic supermajority, signaling the possibility that more controversial policy decisions this session may not be split simply on party lines. The Governor appealed to this “middle majority” in his budget address hours following the vote, stating, “…this Legislature can help Vermont find the sweet spot, where we do the hard policy work and invest in the things that help people, without pushing them further behind, or making it too expensive for young workers to get started here, and without forcing our anchor employers out of state, or ‘Main Street’ mom and pops out of business.”

 

If passed into law, the Bottle Bill would have set a new trajectory for beverage container management and impacted manufacturers, distributors, and retailers alike. The bill had 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 would have strained current systems, leading to inefficiencies and increased financial burdens on taxpayers.

Work on Crucial Housing Bill is Underway in Senate Committee

Work on Crucial Housing Bill is Underway in Senate Committee

While there seem to be more housing bills introduced this session than housing units being built in Vermont, the Senate Economic Development, Housing, and General Affairs Committee took testimony throughout the week from various stakeholders to inform ongoing work on the “BE Home” bill. Early drafts of this session’s omnibus housing bill include amendments to Act 250, such as the issuance of permits contingent on other approvals and the establishment of new tiers. The proposal also addresses taxation adjustments, introducing modifications like property tax exemptions and sunset clauses for specific tax exemptions. Committee work on the proposed legislation is expected to continue next week to meet the Chair’s expectation of having a bill by early February.

The Vermont Chamber is advocating for solutions that encourage more housing to be built in viable locations, without appropriating large sums of money. In particular, for policy that incentivizes new development in and around our community centers as outlined in the Vermont Natural Resources Board report on necessary updates to Act 250.

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