Vermont’s economic competitiveness took center stage in the House Ways and Means Committee this week as lawmakers listened to the Vermont Futures Project present findings from its Competitiveness Dashboard. The dashboard is a compilation of national and regional research, illustrating data sets that provide a clear picture of how Vermont compares to other states and highlights trends shaping the state’s economic performance.

The most striking data point of the research is Vermont ranks 51st in economic momentum, a measure that evaluates population trends, employment growth, business formation, and overall economic performance relative to other states. The ranking reflects a combination of indicators that, taken together, point to a slowing trajectory in key areas that drive long-term growth.

In presenting the data, Vermont Futures Project Executive Director Kevin Chu emphasized these findings are not based on a single metric, but rather a consistent pattern across multiple measures. Vermont is currently the only state experiencing both natural population decline and negative net migration, while also ranking near the bottom in business formation and employment growth. These trends are further compounded by challenges related to cost of living and overall economic competitiveness.

A key theme from the presentation was the importance of focusing on the foundational elements that support economic growth. Housing availability and workforce supply continue to be central constraints. Maintaining a stable population requires sufficient housing to meet changing needs, and expanding the workforce depends on the state’s ability to attract and retain residents.

The data also highlights the broader competitive landscape. Other states are actively investing in strategies to attract talent, support business growth, and expand economic opportunities. In that context, Vermont’s ability to build economic momentum depends on how effectively it aligns its policies and investments to support those same goals.  Currently these goals seem unattainable, as the Committee continues to evaluate tax policy proposals that would add barriers to improving Vermont’s economic competitiveness.

While there are no single solutions to these challenges, the Futures Project’s findings reinforced that improving competitiveness will require a coordinated approach. Aligning housing, workforce development, regulatory predictability, and overall economic policy will be essential to supporting sustainable growth and strengthening Vermont’s position in a competitive national environment. As policymakers continue to evaluate proposals, including changes to tax policy, grounding those decisions in data and a clear understanding of the state’s economic trajectory will be critical to building long-term economic momentum.