Bishop & Sullivan: A new normal: The 2022 legislative session in review

This commentary is by Betsy Bishop of East Montpelier, president of the Vermont Chamber of Commerce, and Megan Sullivan of Jericho, the chamber’s vp of presidency affairs.

Every year, the tip of the legislative session coincides with hotter climate, signaling peak tourism season simply across the nook. For a lot of Vermont companies, nevertheless, this would be the third summer season in a row that they’re overwhelmed with uncertainty as a substitute of anticipation. 

Whereas elected officers resumed in-person operations on the Statehouse, members of the Vermont enterprise group are nonetheless working to find out their “new regular.”

The inspiration of the Vermont Chamber advocacy this session was the stark actuality that Vermont has an estimated 26,000 job openings and an unemployment price of two.7%. With 25,500 fewer individuals taking part within the workforce than pre-pandemic, employers are going to unprecedented lengths to retain staff and recruit new employees.

Whereas companies continued to battle the continued impacts of the pandemic — together with a constrained labor drive, elevated payroll bills, decreased hours, 8.3% inflation, and limitless provide chain issues — progress was made on many coverage fronts as a result of assist from legislators who listened to our members and our devoted five-person Vermont Chamber advocacy staff.

The Vermont Chamber succeeded on most of our 2022 legislative session agenda gadgets, together with retaining Vermont employees, serving to companies emerge from the pandemic, rising workforce housing provide, and recruiting new employees to Vermont:

Workforce recruitment:

• Over $3.5 million was secured for workforce recruitment initiatives, together with $3 million for relocation incentives, and $500,000 to the State Refugee Workplace for grants to assist elevated inmigration and retention of New People.

Workforce retention:

• $1.5 million was allotted for a two-year pilot program for a regional workforce enlargement system, $250,000 for a particular oversight committee on workforce enlargement and improvement, and $2.5 million in forgivable loans for school graduates who decide to work in Vermont for 2 years after commencement.
• Included within the ultimate omnibus housing invoice was $15 million for the lacking center homeownership improvement program to extend the provision of housing for middle-income employees. There are additionally funds for an enlargement of the precedence housing mission program and funding to extend the provision of rental items via grants to property house owners.

Workforce coaching:

• $15 million was secured for a profession and technical training development and rehabilitation studying program and revolving mortgage fund via the Vermont Housing and Conservation Board to rehab decrepit buildings and artistic housing items.
• Further funding consists of $3 million secured for the Vermont Pupil Help Corp., $1.5 million to the Division of Labor for a Vermont work-based studying and coaching program, $387,000 to Vermont Technical School for a talented meat cutter coaching/apprenticeship facility, and $250,000 for the Vermont Professionals of Coloration Community to offer enterprise teaching and coaching.
• The Division of Corrections was granted $420,000 to deal with vocational enhancement wants and $300,000 to determine a group reentry pilot program.

Enterprise restoration:

• $38 million was secured for enterprise restoration packages, together with $19 million for Vermont Financial Growth Authority forgivable loans, $40 million for the group restoration and revitalization grant program, and $9 million for inventive economic system grants.
• A number of provisions in a liquor legislation modernization invoice shall be useful for the hospitality business, together with shifting ready-to-drink cocktails into the wholesale/retail house, allowing first-class licensees to promote these cocktails, staggered vs. annual license renewals, and clarification for licensees to take part within the uncommon and strange product raffles.
• $17.7 million of continued financial savings have been secured for well being care premiums for small companies utilizing Vermont Well being Join.
• The manufacturing tax exemption enlargement would exempt equipment and gear utilized in built-in manufacturing operations and all ancillary processes between uncooked supplies and completed items, in addition to some secondary packaging processes.

Whereas there have been many wins for the enterprise group this session, the Legislature didn’t ship on key workforce recruitment efforts by not passing an allocation for relocation advertising and marketing or a full tax exemption on navy retirement revenue.

Even so, Home and Senate leaders will head into the marketing campaign season with a powerful report of supporting the Vermont Chamber agenda and the Vermont enterprise group. From our annual Vermont Financial Convention to our State to Major coverage podcast collection to supporting the Vermont Declaration of Inclusion initiative, the Vermont Chamber as soon as once more set the tone for making Vermont a greater, extra vibrant place to dwell, work and play.