Tourism Economy Day Brings Business and Policy Leaders Together at the State House

Tourism Economy Day Brings Business and Policy Leaders Together at the State House

Over 100 tourism and hospitality industry leaders gathered at the State House on April 10 to engage with legislators and raise awareness of the collective contributions of these industries to the Vermont economy. Tourism Economy Day, convened by the Vermont Chamber of Commerce, Ski Vermont and Vermont Specialty Food Association, brought businesses together to advocate for a thriving Vermont visitor economy.

The Vermont visitor economy has a $4 billion annual economic impact and represents 10% of our workforce. In 2023 alone, 15.8 million visitors spent $4.0 billion across lodging, dining, retail, entertainment, recreation, and more. Their spending also contributed $282.3 million in state and local taxes—equivalent to approximately $1,039 per Vermont household. Businesses, legislative leaders, and Administration officials collaborated for a day of advocacy that elevated the collective contributions of the visitor economy to Vermont. Advocacy day highlights included a joint hearing with the Senate Committee on Economic Development, Housing and General Affairs and House Committee on Commerce and Economic Development, a joint resolution recognizing April 10, 2025, as Tourism Economy Day, and an evening food and beverage tasting reception with the Vermont Specialty Food Association.

Rep. Abbey Duke (Chittenden-17), a stalwart supporter of the tourism industry, shared “Vermont’s tourism sector is a cornerstone of our state economy, generating billions in economic activity, supporting tens of thousands of jobs, and enriching our communities. It’s essential for legislators to support policies that foster sustainable growth in tourism, including investments in infrastructure, housing, workforce development, and supporting local businesses.”

“A thriving tourism economy means vibrant communities and a chance for everyone—whether you’re a local or a visitor—to experience the very best of Vermont. However, the industry is facing challenges echoed by so many across the state: an aging declining workforce and a critical housing shortage.” said Amy Spear, President of the Vermont Chamber of Commerce. “It’s crucial that we find a path towards affordability and abundance, improving economic conditions. Vermont’s beauty and charm are undeniable, and together, we can create an environment where both our tourism industry and our communities can thrive for generations to come.”

Business leaders highlighted the following sentiments in their testimonies: the role of tourism supporting Vermont’s economy and communities, the industry’s centrality in providing jobs and making Vermont an appealing destination to both live and visit, and the collective challenges facing businesses in the industry, including: workforce shortages, workforce housing accessibility and affordability, rising taxes and high operating costs and a strained relationship with Canadian neighbors due to federal rhetoric.

“Outdoor recreation is a significant part of Vermont’s tourism economy, driving visits and fueling the economy in many rural parts of our state. In 2023, outdoor recreation accounted for 4.8% of the state’s GDP, or $2.1B annually, and 5.1% of the state’s workforce, according to the US Bureau of Economic Analysis,” said Molly Mahar, President of Vermont Ski Areas Association. “Vermont ranks second only to Hawaii in percent of GDP generated by outdoor recreation, which is largely driven by activities like skiing, snowboarding, hiking, mountain biking, and camping. However, businesses are grappling with workforce and housing shortages, higher costs, and new uncertainty around Canadian visitation levels, which limit growth.”

Additional business and policy leaders that testified were Nina Ridhibhinyo, Director of Programs & Strategy at ECHO, Leahy Center for Lake Champlain, Randy George, Owner of Red Hen Baking Co., Québec Delegate Rene Sylvestre of the Québec Government Office in Boston, Will Kriewald, CEO of Basin Harbor Resort and Boat Club, Abby Long, Executive Director of Kingdom Trails, Kate Trzaskos, Executive Director of Downtown Brattleboro, Vicky Allard, Founder and Executive Chef at Blake Hill Preserves, Steve Wright, President/General Manager at Jay Peak Resort, and Kim Jackson, Director of Communications and Marketing at Vermont Adaptive.

The day ended with a Vermont Specialty Food Association Legislative Tasting, featuring vendors from across Vermont. Karin Cioffi, Executive Director of VSFA shared, “Vermont’s specialty food and beverage producers are a cornerstone of the state’s identity and a driving force behind the visitor experience. Tourists don’t just come for the views, they come to taste Vermont. From handcrafted cheeses to small batch spirits, these products represent the passion, innovation, and resilience of our local businesses. Our evening tasting event at the State House showcased the incredible talent of producers across the state and underscored just how vital this industry is to Vermont’s economy, culture, and continued appeal as a destination.”

Photo Credit for Images 3 and 4: Blake Hill Preserves

Vermont’s Education Reform Bill May Expose Businesses to Higher Taxes

Vermont’s Education Reform Bill May Expose Businesses to Higher Taxes

The Vermont House of Representatives passed H.454 (87-55) a sweeping education reform bill aimed at addressing education finance and delivery. While the bill passed, it contains many controversial provisions that will require further debate in the Senate. Notably, significant property tax classification changes are likely to affect the business community. The move could expose businesses to higher rates with recent actions casting doubt on promises to protect businesses. As passed by the House, the proposal expands property classifications from two to four:

  • Homestead
  • Nonhomestead, Apartment
  • Nonhomestead, Nonresidential
  • Nonhomestead, Residential

Although other sections of the bill were updated through a bipartisan amendment, many members still found them inadequate, and proposals to support Vermont’s business community were entirely omitted from the compromise. At a time when employers face workforce shortages, inflation, and national regulatory changes, the lack of meaningful state-level support is increasingly unsustainable.

The Vermont Chamber remains concerned and opposes the expansion of property tax classifications; more specifically, the creation of a category singling out businesses creating an opening for inequitable tax treatment, increasing the risk of higher tax rates in future years.

While some legislators insist that there is no intention to raise taxes on businesses, recent actions have undermined that promise. For instance, last year, the House passed $125 million in new taxes on businesses and working Vermonters, as well as a larger increase in the Nonhomestead property tax rate in comparison to the Homestead rate.

The Vermont Chamber advocated for the combination of the Nonhomestead, Apartment and Nonhomestead, Nonresidential categories into one unified Nonhomestead category. This consolidation would recognize that both property types share similar market-driven and investment characteristics, setting them apart from Nonhomestead, Residential properties. This consolidation would simplify the system, promote equity, and better protect Vermont’s overburdened business community.

Following a floor debate, a roll call vote was taken so that constituents could see their legislators’ positions on this critical issue. As the bill advances to the Senate, there is hope that a more balanced approach will be adopted to address education governance and finance reform, tackle cost containment, and prevent businesses from being singled out to bear an increasing share of the state’s tax burden.

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64 Vermont Chamber Members Named 2025 Best of Business Winners

64 Vermont Chamber Members Named 2025 Best of Business Winners

The Vermont Chamber of Commerce congratulates our members who have been named recipients of the VermontBiz 2025 Best of Business Awards. This year, over 100 Vermont companies were recognized as the best in their category, including 64 Vermont Chamber members.

This awards program celebrates the best Vermont companies in more than 100 business-to-business categories. To identify the winners, VermontBiz surveyed magazine and digital subscribers, asking their readers – the business leaders of Vermont – who they trust to provide their services in 120 different categories. 

Vermont Chamber members that were named to the 2025 list include:

Category:

Winner:

Best Hotel for Business Travel: Chittenden County

Hotel Vermont  

Best Hotel for Business Travel: Franklin/Grand Isle/Addison Counties

Basin Harbor  

Best Hotel for Business Travel: Central Vermont/Northeast Region

Stoweflake Resort & Conference Center  

Best Hotel for Business Travel: Windham/Windsor Counties

Woodstock Inn 

Best Credit Union: Chittenden County

Vermont Federal Credit Union  

Best Credit Union: Franklin/Grand Isle/Addison Counties

EastRise Credit Union 

Best Credit Union: Central Vermont/Northeast Region

EastRise Credit Union 

Best Credit Union: Windham/Windsor Counties

Vermont Federal Credit Union  

Best Bank: Chittenden County

Community Bank  

Best Bank: Central Vermont/Northeast Region

Community National Bank 

Best Small/Medium Venue for Meetings and Events: Chittenden County

The Essex Resort & Spa 

Best Small/Medium Venue for Meetings and Events: Central Vermont/Northeast Region

Stoweflake Resort & Conference Center

Best Small/Medium Venue for Meetings and Events: Rutland/Bennington Counties

Mountain Top Resort

Best Small/Medium Venue for Meetings and Events: Windham/Windsor Counties

Woodstock Inn  

Best Large Venue for Meetings and Events: Chittenden County

Champlain Valley Exposition  

Best Large Venue for Meetings and Events: Franklin/Grand Isle/Addison Counties

Basin Harbor  

Best Large Venue for Meetings and Events: Central Vermont/Northeast Region

Stoweflake Resort & Conference Center 

Best Large Venue for Meetings and Events: Rutland/Bennington Counties

Killington Grand Hotel  

Best Large Venue for Meetings and Events: Windham/Windsor Counties

Woodstock Inn 

Best Golf Course: Chittenden County

Burlington Country Club

Best Golf Course: Franklin/Grand Isle/Addison Counties

Basin Harbor  

Best Golf Course: Central Vermont/Northeast Region

Stowe Country Club  

Best Golf Course: Rutland/Bennington Counties

Green Mountain National  

Best Golf Course: Windham/Windsor Counties

Lake Morey Resort  

Best Restaurant for Business Lunch: Chittenden County

Windjammer Restaurant  

Best Restaurant for Business Lunch: Central Vermont/Northeast Region

Sarducci’s

Best Restaurant for Business Lunch: Windham/Windsor Counties

Grafton Inn 

Best Restaurant for Business Dinner: Chittenden County

Windjammer Restaurant  

Best After-Work Bar: Chittenden County

Waterworks Food + Drink 

Best After-Work Bar: Franklin/Grand Isle/Addison Counties

14th Star Brewing Company

Best After-Work Bar: Central Vermont/Northeast Region

Three Penny Taproom

Best Bank Statewide:

Northfield Savings Bank  

Best Credit Union Statewide:

Vermont Federal Credit Union  

Best Website Developer:

Eternity 

Best Travel Agency For Business Travel:

Milne Travel  

Best Downhill Ski Area:

Smugglers’ Notch Resort  

Best Cross Country Ski Area:

Trapp Family Lodge  

Best Electricity Provider:

Green Mountain Power  

Best Fuel Provider:

Vermont Gas  

Best General Contractor:

DEW Construction, ReArch Company  

Best Lumber Company:

rk MILES, Inc.  

Best IT Service:

Open Approach  

Best Telephone Service:

Burlington Telecom  

Best Internet Provider:

Comcast 

Best Copier Provider:

SymQuest  

Best Commercial Printer:

Paw Print & Mail  

Best Accounting Firm:

Gallagher Flynn & Company LLP  

Best Commercial Real Estate Broker:

V/T Commercial  

Best Property Management Company:

Redstone  

Best Waste Removal Company:

Casella Waste Services  

Best MBA Program:

UVM  

Best Online Degree Program:

Champlain College  

Best Employee Benefits Firm:

The Richards Group  

Best Health Insurance Provider:

BlueCross BlueShield of Vermont  

Best Large Health Care Provider: 600+ Employees

University of Vermont Medical Center 

Best Boat Dealer:

Saba Marine  

Best Vermont Made Product:

Darn Tough Vermont 

Best Vermont Made Beverage:

Barr Hill  

Best Vermont Made Food Product:

Cabot Creamery Co-operative 

Best Bankruptcy Law Firm:

Primmer Piper Eggelston & Cramer PC  

Best Corporate Law Firm:

Gravel and Shea 

Best Intellectual Property Law Firm:

Downs Rachlin Martin PLLC  

Best Manufacturer:

Cabot Creamery Co-operative  

Congratulations again to our members who were recipients of the 2025 Best of Business in Vermont Awards.

Chamber Priorities Advance in Budget, Gaps Remain

Chamber Priorities Advance in Budget, Gaps Remain

The House passed H.493, the FY26 budget bill appropriating $9 billion. The budget as passed includes investments in housing, workforce, and infrastructure that echo many of the Vermont Chamber’s priorities. However, several important economic development tools were not fully funded, creating gaps that could impact business growth and workforce attraction in the years ahead. As the budget moves over to the Senate, there will be further opportunities to address these gaps.

 Key Investments That Support Vermont’s Economy

  • $7.5 million for the Vermont Housing Finance Agency Rental Revolving Loan Fund to support innovative housing finance models.
  • $7.5 million for the Vermont Bank Infrastructure Sustainability Fund, providing a new funding source for community’s infrastructure needs.
  • $10 million for the Middle-Income Homeownership Development Program, helping address the financial gap needed to develop middle income housing, long support by the Vermont Chamber.
  • $2 million in base funding for the Manufactured Home Improvement and Repair (MHIR) Program, securing ongoing funding for an essential segment of Vermont’s housing stock.
  • Funding for Advance Vermont, a key workforce initiative focused on upskilling and education-to-career pathways.
  • Investment in the Vermont Professionals of Color Network, bolstering the organization’s workforce retention and recruitment efforts statewide.
  • 3% base increases for UVM, VSAC, and Vermont State Colleges, supporting the state’s talent pipeline and higher education system.
  • $650,000 in base funding to Sheriffs to restore vacancy savings, allowing transport deputy positions to be filled
  • $650,000 in base funding to the State’s Attorneys to restore vacancy savings

Unmet Needs

  • The Vermont Housing Incentive Program (VHIP) received $4.15 million in one-time funds, but its future remains uncertain as it wasn’t included in the base budget.
  • No additional funding was provided for relocation assistance through the Grants for Relocation Outreach Work Program, a program intended to support local, regional, county, and statewide organizations conducting new resident relocation, recruitment, and retention activities.

 Sustained, strategic investments remain critical to building a resilient economy. The Vermont Chamber will continue working to ensure that policies and investments promote long-term economic stability, business competitiveness, and bring Vermont towards a future of growth and abundance.

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Lt. Governor John Rodgers Connects with Business Leaders at the Wellspring Forum

Lt. Governor John Rodgers Connects with Business Leaders at the Wellspring Forum

Lieutenant Governor John Rodgers connected with Vermont business leaders at the Vermont State House today for the latest installment of the Wellspring Forum series. Each event in the series brings together top business and policy leaders for a robust discussion on pressing economic issues and is moderated by Vermont Chamber President Amy Spear.

“Connecting businesses and policy leaders is a critical component of our mission to advance the Vermont economy. Vermont is at a critical juncture, and this week is particularly significant as it marks the crossover deadline,” stated Spear. “Lieutenant Governor Rodgers discussed key issues affecting Vermont’s affordability, emphasizing that we must come together to find solutions that lead us toward a prosperous and sustainable economic future—one that ensures living and doing business in Vermont remains viable.”
Lt. Governor Rodgers focused on the most urgent economic challenges facing Vermont, highlighting workforce shortages and affordability as top concerns. Business leaders stressed the need for targeted strategies to attract and retain workers and young families, underscoring the importance of keeping Vermont an attractive place to live, work, and do business.
“I believe Vermont’s strength lies in the spirit of our communities and the vitality of our local businesses,” said Lt. Governor Rodgers. “I remain dedicated to championing affordability and ensuring our economic policies pave the way for a secure future. When we set aside partisan differences and work together, we create a Vermont where every community and enterprise can thrive. Affordability isn’t just a policy goal—it should be a promise to Vermonters.”
The Wellspring Forum series is supported by NBT Bank. The event’s name draws inspiration from former Governor James H. Douglas, who once said: “I am often reminded that the wellspring of Vermont liberty flows from Main Street, not State Street.”

Lawmakers Weigh Housing Solutions to Address Affordability and Infrastructure Needs

Lawmakers Weigh Housing Solutions to Address Affordability and Infrastructure Needs

The House General and Housing Committee continued its review of strategies to address Vermont’s housing challenges while also supporting sustainable development. Legislative hearings throughout the week brought together policymakers and industry experts to examine proposals aimed at modernizing housing stock, improving rental conditions, and investing in infrastructure to bolster long-term growth.

Central to the discussion was the Vermont Rental Housing Improvement Program (VHIP), which provides grants and forgivable loans to rehabilitate or create rental units. Lawmakers highlighted its role in increasing housing opportunities for individuals exiting homelessness, participants in resettlement programs, and people with disabilities. Stakeholders also examined the Vermont Manufactured Home Improvement and Repair Program, which would direct financial assistance to manufactured homeowners and park owners to support critical repairs and improvements.

Infrastructure investment was another key focus, with the proposal to establish a Vermont Infrastructure Sustainability Fund to support municipal water, sewer, and public infrastructure projects that enable housing development. Lawmakers also discussed the formation of a Residential Universal Design Study Committee to explore statewide accessibility standards for residential construction.

Beyond funding programs, the hearing included conversations on streamlining the appeals process for housing projects, municipal appeal standing, and the potential creation of a state land bank. Additional discussions touched on virtual group net metering, efficiency utilities, and brownfield redevelopment as part of a broader effort to modernize housing policy. The path forward for project-based Tax Increment Financing (TIF) and other widely supported proposals remains uncertain.

The committee is expected to refine these proposals prior to crossover, weighing funding allocations and regulatory reforms that will shape Vermont’s housing landscape. The Vermont Chamber will continue engaging with lawmakers to ensure that any final legislation includes targeted investments and policy solutions that support housing growth while strengthening Vermont’s economy.

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Vermont Signature Events Award Winners Announced 

Vermont Signature Events Award Winners Announced

The Vermont Chamber of Commerce and the Vermont Department of Tourism and Marketing have announced the winners for the 2025/26 Vermont Signature Events program. These signature events offer experiences that fuel the Vermont visitor economy. In 2023, visitor spending contributed $4.0 billion to Vermont’s economy. 

2025/26 Vermont Signature Events: 

  • Quechee Balloon Festival (June 20-22, 2025): Vermont’s longest-running hot air balloon festival, featuring colorful balloon launches, live entertainment, and family-friendly activities in Quechee. 
  • Summer Solstice Sessions (June 21, 2025): At Jay Peak Resort, outdoor activities and live music combine with a rare summer skiing experience on preserved terrain. 
  • Lake Morey Summer Concert Series (Thursdays from June 26 – August 21, 2025): Held in Fairlee, this weekly concert series brings live music, local food vendors, and nationally acclaimed artists to the community. 
  • Best of Vermont Summer Festival (August 23-24, 2025):  In Ludlow, more than 125 vendors, live music, hot air balloons, and family-friendly activities come together to celebrate Vermont’s culture. 
  • South End Art Hop (September 5-7, 2025): Burlington’s three-day celebration features hundreds of open studios, art exhibitions, and live music in the South End Arts District. 
  • Vermont Pumpkin Chuckin’ Festival (September 28, 2025): In Stowe, pumpkin launching via trebuchets, live music, food, and a variety of activities create a fun-filled festival atmosphere. 
  • Heirloom Apple Day (October 12, 2025): Celebrate Vermont’s apple heritage with heirloom apple tastings, farm tours, and local food at Scott Farm in Dummerston. 
  • Woodstock Wassail Weekend (December 12-14, 2025): Woodstock becomes a holiday wonderland with horse-drawn carriage rides, artisan craft fairs, and festive musical performances. 
  • First Night North (December 31, 2025): In St. Johnsbury, this family-friendly arts festival offers live performances, food vendors, and a community countdown to the new year. 
  • Curds & Curling (February 2026): In Greensboro, winter festivities include cheese tasting, curling competitions, live music, and local food in a festive atmosphere. 

 The Vermont Signature Events program offers an invaluable opportunity for events to garner widespread recognition. Signature events are awarded annually and showcase the rich variety of experiences to be had in the Green Mountains. These top-rated events offer a true taste of all that is local, bringing visitors into the heart of communities and serving as an important component in the Vermont visitor economy. 

Learn more about the 2025/26 Vermont Signature Events. 

Senate Committee Weighs Labor Bill Provisions with Significant Business Impacts

Senate Committee Weighs Labor Bill Provisions with Significant Business Impacts

The Senate Economic Development, Housing, and General Affairs Committee is evaluating proposals put forward for potential inclusion in an omnibus labor bill that could introduce substantial changes to Vermont’s employment laws. The proposals range from minor technical adjustments to major shifts that may increase labor costs and regulatory obligations for employers. The Vermont Chamber is analyzing the provisions to assess their potential impact on businesses and economic growth. Some key provisions under consideration include:

  • Minimum Wage Increase – Raising the minimum wage to $18.60 per hour by January 1, 2026. This increase may lead to higher consumer prices, compressed wage differentials, and hiring challenges.
  • Overtime Expansion – Extending overtime eligibility to certain lower-salaried executive, administrative, and professional employees could increase payroll costs and limit scheduling flexibility.
  • Vacation Leave Payout – Requiring employers to compensate any departing employees for unused vacation leave may create cash flow challenges, especially for businesses with staff who accrue significant leave balances.
  • Workers’ Compensation Changes – Including health insurance in the definition of wages for workers’ compensation could result in higher insurance premiums for employers.
  • Prevailing Wage & Payroll Record Requirements – Amending prevailing wage standards for state construction projects would raise wage and benefit costs while mandating additional payroll recordkeeping and enforcement measures. These changes may disproportionately affect small contractors and subcontractors and raise concerns for migrant workers.
  • Employer Mandates & Workplace Standards – Establishing a “good cause” standard for termination may limit employer flexibility in managing their workforce and increase legal risks. Restricting noncompete agreements could make it harder for businesses to protect proprietary information and maintain workforce stability. Additionally, requiring that employers provide accommodations to sit in the workplace could necessitate new workplace modifications.

These provisions, if enacted collectively, could create significant compliance burdens, increase operational costs, and reduce employer flexibility. With rising costs, higher taxes, and significant labor law changes enacted in the last legislative biennium, lawmakers must consider the cumulative impact of these financial and regulatory pressures on Vermont businesses.  The Vermont Chamber will continue advocating for modifications to mitigate unintended consequences for Vermont businesses and is actively engaging with policymakers to ensure that any changes to labor laws support economic growth while balancing employee protections.

 

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Draft Bill Unveils Bold New Blueprint for Vermont’s Education Finance System

Draft Bill Unveils Bold New Blueprint for Vermont’s Education Finance System

Taking a step forward in efforts to modernize Vermont’s education funding, the House and Ways and Means Committee has begun reviewing newly released draft bill language outlining a comprehensive overhaul of the state’s property tax framework, based on the Administration’s proposal.

Redefining the Tax Landscape
At the heart of the proposal is a statewide education tax that applies uniformly to both homestead and non-homestead properties. Unlike the current system—which relies on a fixed base rate for non-homestead properties—the new approach ties the tax rate to an annually adjusted per-pupil “base amount” of $13,079. This shift is designed to account for forecasted revenues and ensure that education spending keeps pace with the evolving fiscal environment. Under the revised framework, the Commissioner of Taxes will calculate the appropriate rate for each municipality, and property tax bills will provide a detailed breakdown of the calculations, reinforcing a commitment to transparency.

A Closer Look at School District Funding and the State Guarantee
The draft bill introduces a “State Guarantee” mechanism intended to level the funding playing field among school districts. By comparing each district’s taxable property wealth per student to the state median, districts with lower local resources stand to receive substantial state support. The guarantee is calculated by applying a specific “State Guarantee Rate”—defined as one minus the ratio of a district’s equalized property tax grand list per-pupil to that of the median district—to the district’s approved spending. This targeted measure is designed not only to bolster districts that traditionally face fiscal challenges, but also to maintain local decision-making power in setting school budgets.

Ensuring Equity and Relief for Homeowners and Renters
The proposal further refines property tax relief by replacing the existing income-based property tax credit with a more progressive homestead exemption system. The new structure is tiered by income, promising greater relief for low- and moderate-income households. Additionally, for those with high property values relative to income, the draft includes provisions for a property tax deferral program—a model inspired by similar initiatives in states like Maine, Minnesota, and Oregon—allowing eligible homeowners to postpone a portion of their tax burden until a change in ownership occurs.

Safeguarding the Education Fund and Streamlining Administration
Revenue generated by the statewide education tax will flow into an Education Fund dedicated to covering the per-pupil base amount and the state guarantee. To ensure fiscal prudence, statutory reserve levels will be maintained at five percent, and strict administrative protocols will be enforced. Municipalities, in coordination with the Commissioner of Taxes, will play a critical role in billing, collecting, and remitting funds, all while adhering to robust penalties for any fraudulent claims.

Looking Ahead
As discussions continue, the Vermont Chamber will remain engaged in the conversation, ensuring that the impact on commercial and industrial properties is carefully balanced with the broader goals of funding a high-quality education system.

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Legislators Advance Housing Solutions to Support Economic Growth

Legislators Consider Housing Solutions to Support Economic Growth

This week, legislators continued to explore approaches to address Vermont’s housing needs while bolstering economic growth statewide. During a Senate Economic Development, Housing and General Affairs Committee session, industry experts examined offsite construction for modular housing. The hearing detailed offsite building techniques, highlighting both cost efficiencies and operational challenges, while state officials stressed the importance of land factors and ongoing housing operations. The testimony concluded by outlining potential solutions and policy reforms needed to support sustainable housing development.

Parallel discussions centered on modernizing Vermont’s housing stock and infrastructure, with the Vermont Housing Improvement Program (VHIP) at the forefront. VHIP has successfully funded the rehabilitation of more than 1,000 housing units through a combination of grants and loans. Despite challenges such as fluctuating fair market rents and high costs associated with accessory dwelling unit projects, lawmakers remain committed to refining strategies that support a robust and accessible housing market for Vermonters.

The House Commerce and Economic Development and House General and Housing Committees are evaluating proposals to modernize community development financing. Two initiatives—the Housing Infrastructure Initiative (HIT), championed by Let’s Build Homes, and the Administration’s Strategic Projects for Advancing Rural Communities (SPARC) proposal—were discussed as potential new development financing tools that compliment Vermont’s traditional financing model of Tax Increment Financing (TIF). Both proposals offer streamlined structures and enhanced technical assistance for local municipalities, aiming to better support community needs. While concerns were expressed regarding rural feasibility and impacts on local resources, proponents detailed comprehensive financing and technical assistance strategies to alleviate these challenges.

Housing committees do not appear to be taking up the Administration’s omnibus housing bill. Instead, they plan to incorporate select elements into new committee housing bills. Ensuring that any final legislation includes strategic funding, robust infrastructure support, and targeted regulatory relief is critical. As both House and Senate committees continue to refine omnibus housing bills, the Vermont Chamber will continue working with lawmakers to integrate these forward-thinking proposals that equip communities and developers with tools to address Vermont’s housing crisis.

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