Jobs & The Economy
Vermont is home to a variety of innovative entrepreneurs and businesses. From high-tech firms to specialty food producers to leaders in the green economy, Vermont leads the way in forward-thinking and sustainable economic development that provides good-paying jobs to thousands of Vermonters. Since safe and reliable transportation systems keep Vermont businesses and their employees moving, transportation improvements and economic development efforts are closely linked in Vermont.
Below is more information about Senator Leahy’s efforts to grow Vermont’s economy, secure federal contracts for local employers, stimulate economic recovery efforts, develop a dynamic workforce, and enhance Vermont’s historic downtowns and transportation systems.
Economic Development
Vermont is a special place to start or expand a business, and our economy is diverse. Well-known companies like Ben & Jerry’s, King Arthur Flour, and Orvis all hail from the Green Mountain State. Established firms like IBM, GE Aviation, and Goodrich Aerospace all have facilities in Vermont. And many innovative small businesses – like Revision Eyewear, Chroma Technologies, and Darn Tough Socks – also call Vermont home. In fact, over 95 percent of all businesses in Vermont employ fewer than 50 employees.
Senator Leahy has worked with a number of firms throughout Vermont to secure government contracts for important research & development, manufacturing, and service needs.
In addition, if you are interested in starting or expanding a business in the Vermont, please explore the Related Links above.
Economic Recovery
In February 2009, Congress passed and the President signed into law an economic recovery plan to provide assistance for hardworking Americans struggling during this economic downturn.
As a senior member of the Appropriations Committee, Senator Leahy worked hard to ensure that the recovery bill included priorities important to Vermont, such as expanding financing opportunities for Americans in danger of losing their homes to foreclosure; promoting small business investment in plants and equipment; repairing our deteriorating roads and bridges; providing Food Stamps to struggling families; improving high-speed Internet access; and offering financial relief to states struggling with budget deficits that are forcing them to cut essential services. Read Senator Leahy’s full statement on passage of this bill here.
While we are now seeing the positive results from the recovery bill, it is easy to forget just how perilous our economic outlook seemed at the beginning of last year. Some economists predicted that the United States could slip into a severe downturn rivaled only by the Great Depression. However, partly as a result of the economic rescue and economic recovery bills that Congress passed, our situation looks much better today. There are dozens of important economic development projects underway throughout Vermont that would not be possible without this infusion of federal money.
The funds available through the economic recovery bill can be tracked on the White House’s economic recovery Web site (http://www.recovery.gov) that provides information on how the bill is working, tools to help you hold the government accountable, and up-to-date data on the expenditure of funds. You also can track economic recovery spending in Vermont or advocate for a specific project at the State’s Web site (http://recovery.vermont.gov/).
Much of the recovery money still needs to be dispensed, but the spending thus far has proved to be effective. While our economic problems certainly are not over, we are starting to see signs of real economic recovery.
Workforce Development
Training and practical experience can turn the liability of unemployment and underemployment into assets – turning lives around and planting the seeds for the economic future we want for our state. In the current economic environment, there is even greater urgency in training Vermont’s youth and retraining underemployed workers for the jobs of tomorrow.
Senator Leahy has been a strong supporter of organizations around Vermont that have been forward thinking about our state’s workforce development needs and training Vermonters for solid job opportunities right here at home.
Historic Downtowns and Transportation Improvements
Senator Leahy has helped improve roads, bridges, public transit systems, rails, and airports all across the state. These important investments have upgraded our historic downtowns, opened new business markets, and increased accessibility and mobility options for all Vermonters.
Investing in infrastructure improvements in a rural state like Vermont makes sense anytime, and it is doubly useful as we work to jumpstart our economy. Having robust and reliable transportation systems will go a long way towards attracting tourists and businesses to the state, which in turn fuels Vermont’s economy.