The Peace & Justice Center has released the newest installment of the long running Vermont Job Gap Study. The first new phase since 2006, the report is the first part of a three part Phase 10 series “Toward a New Economy”, expanding upon our research on economic development in Vermont. Titled, “Business Climate Revisited: Domestic Business Relocation and Jobs” Phase 10 Part 1 provides critical information and data about what impacts job creation and business expansion in Vermont.
Overall, the report found no evidence to support the assertion that Vermont is “anti-business.” Vermont has outperformed many states with lower taxes or no income taxes at all. And, concerns about competitiveness are vastly overstated because there is very little domestic relocation.
“The Peace & Justice Center is excited to release this new report at time when our state is facing many challenges about how to move forward with our struggling economy,” said Nancy Lynch, Peace & Justice Center Executive Director, “The data and findings in this new Phase of the Vermont Job Gap Study will help all Vermonters including, and perhaps especially, the Vermont Legislature, better understand what truly impacts jobs and businesses in our state to ensure that our tax dollars are being invested wisely to create self-sufficiency and shared prosperity for all.”
Part of our goal with the most recent Vermont Job Gap Studies has been to examine assumptions about economic development and job creation; provide information to help guide decision-makers; and recommend new indicators to measure the performance of the economy and the effectiveness of State programs and policies. For years the debate about economic development has been dominated by too few people and too few ideas. And there has been little accountability because many of Vermont’s policies and programs have not been subjected to rigorous evaluation. We hope this new series of reports will lead to a more expansive – and inclusive – discussion about these issues.