Strengthening Local Economies

In the last 50 years of the 20th century, Vermont changed from a very rural state to a kind of hybrid state. Most of it "just happened." We are likely to see more such changes in the next 50 years. The question is: will we let it just happen or will we try to be the masters of our own destiny?

For too long, Vermont's economic development strategy has been focused on attracting outside businesses to this state. The true economic future of Vermont lies in helping local businesses to thrive and expand.

Vermont businesses have shown that they can compete on a national and even a world stage. Furthermore, Vermont businesses have a vested interest in their communities and are less likely to head out of state the first time they are offered a better deal.

Building on the Vermont Brand
How can we do this? By encouraging, as part of a comprehensive economic development strategy, the growth of environmental goods and services -- the so-called EGS sector of the economy. By building on the well-established image of Vermont as a clean and environmentally conscious state, and by capitalizing on the state's existing talent pool, we have a golden opportunity to attract real investment in the state in technologies like renewable energy, waste management and water quality improvement.

High-Speed Internet is Vital
The Internet has made it possible for us to live locally but work globally. It also means that more people can work in town and reduce the number of commuting miles.  More people are available to man fire departments and rescue squads and to help the economic and social life of their communities.

The legislature needs to do more to prod the expansion of high-speed internet to all corners of the state. This is not something we can keep putting off nor can we continue to let Fairpoint off the hook on their promises to extend high-speed connectivity to "the last mile."  The Waitsfield and Champlain Telecom service area has this service.  It is possible - if a company wants to do it.  They need to keep the pressure on both the private sector, regulators and others to make this happen.

Encouraging Home-Grown Business
Instead of chasing around the world to get businesses to relocate here, we need to nurture home-grown businesses that provide good jobs at all levels of the company. We also need more organization making "micro investments" into Vermont-based businesses. These types of investments have proven successful in other parts of the world and I think they would work here.

We need to encourage more funds like Community Capital Fund of Vermont that is investing in the dreams of Vermonters. Between guidance through the Small Business Development Corp., Vermont-based investing and incubator spaces, we could spur a new era of locally owned and operated business meeting the needs of  not only Vermonters but the world.

At the same time, we would also be helping to preserve all that is special about Vermont. Regional planning calls for compact villages separated by a country landscape. What fueled that open landscape was farmland.

We still need open land and can keep it through diverse agriculture and recreational uses. We need to really start planning for the next 50 years in a regional way, not merely giving it lip service.  If we start now, commit to these things and do it right, we can have our jobs and the Vermont way of life that makes it all so rewarding.