House Commerce Conducts Thoughtful Review of Business Incentive Program

Over the last 10 weeks, the House Commerce and Economic Development Committee has taken extensive testimony to advance H.10, a bill related to the Vermont Employment Growth Incentive (VEGI) program. As originally introduced, the bill would have effectively ended the program. However, after taking extensive testimony on the value of the program from the Vermont Chamber and businesses, the bill would successfully renew VEGI through January 1, 2026. The legislation also enhances transparency and creates a task force to look at new approaches to a future economic development incentive program.  

The Vermont Chamber credits the committee with taking a thoughtful approach to balanced modernization and rising to the opportunity to review and modernize the program rather than eliminate it. The bill is now in consideration in the House Ways and Means Committee and is expected to reach the House floor for a vote next week.