Business Climate
Business Climate is cooling
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Overview
Once ranked fifth in the nation, Vermont’s business climate is reportedly losing some ground. Business climate is determined by government and fiscal policy, business incubation, human resources, technology and other factors. Permitting processes, telecommunications needs, utility costs, and other business-related hurdles can make it difficult for startups to get going.
Fast Facts
- The Beacon Hill Institute’s State Competitive Report placed Vermont 15th in the nation for business climate in 2005, losing out to 10 states it had surpassed just four years earlier.
- Business leaders have indicated that these areas of Vermont’s business climate need improvement: permitting processes, worker compensation, the regulatory environment, healthcare costs, workforce retention, workforce skills and ethics, business taxes, utility costs, telecommunications, housing affordability, personal taxes, air travel, the highway system and childcare.
- Vermont is ranked the 11th most expensive state for doing business, for its wages, tax burden, electricity costs, and price of industrial rent and office space.
Read more about Vermont’s business climate in Understanding Vermont or get a copy of the entire publication.