Vermont is in financial trouble. We can’t fund our schools properly in order to educate our kids. We can’t take care of our elderly. We tax our residents right out of the state. Our roads are a mess. If we go about doing the same old things in Montpelier just because that’s the way we always did it, then we are headed for a nightmare of epic proportions.
Here’s my vision of how business can help us turn some of our finances around.
Large Companies
Vermont is about as business friendly as the ocean is to airplanes. Government thinks it’s protecting Vermont by restricting business growth. What?! We need money but we put our not welcome signs up to most all big business.
Instead of this approach let’s try a new one. If an environmentally friendly big business is offered the right incentives they might finally give Vermont a serious look. The following is an example. (The percentages might be higher or lower depending on a committee assessment of plausibility.)
Business XYZ wants to relocate someplace. Vermont says we have an opening in the Northeast Kingdom. If you are willing to set up shop, train and hire Vermonters, employ more than 10 employees, hire local contractors to build your facilities, then we will be willing to offer you a 100% break on your business taxes for the first two years you stay here. After two years you will save 25%. After four years 10%. After five years you will be at par with other local businesses.
Another important piece of this pie is to make sure there is quality transportation for their goods and employees. Not many companies will relocate to an area that has zero transportation set in place, such as is the situation in the NEK presently. This is why it is so important for Vermont to move forward in building its own airline. There will be more of this on my website under its own heading.
We also need to improve our rail and bus service throughout the state.
Business need not be a four letter word to Vermont. There are many quality companies and many financial institutions that would love to locate in our regions. Let’s make it happen. We will create jobs, increase our population, keep our kids in Vermont, and build our tax base.
Small Business
As we all know, when it comes to job creators it’s small business that does the most hiring. As we also know, small businesses tend to either make it or go under in the first five years. Why then are we not making sure they have the best opportunity to succeed?
If a Vermonter wants to start a business we need to help them become successful.
Low cost state loans must be available.
For the first five years there must be tax breaks for those starting a business. As an example, we should offer zero business taxes for the first two years. After two years they pay 25% of the tax base. After three years it is up to 50%. After four years it raises to 75%. And, after five years it is 100% of the tax rate. This gives them time to adjust and grow.
Utilities must not be allowed to treat a business differently than a residence. The rates must be the same for both. If you use more water or electric then you pay for what you use.
Insurance companies who offer discounts to new businesses should be compensated during the first five years.
Along with the Small Business Association we must have a Vermont Department of Business Assistance set up to help start-up businesses. We can assist them in everything from legal forms to human resources needs. There will be no charge for these services within the first five years. It will run similar to SCORE, with much of the assistance provided by retirees.
Taxes, lack of jobs, minimal on the job training for quality jobs, high cost of doing business, all this needs to change. Vermont, if we want to continue to be a populated state, must evolve and look at more progressive ways of supporting companies, small businesses and entrepreneurs. It’s all certainly possible and it’s also important!
Here’s my vision of how business can help us turn some of our finances around.
Large Companies
Vermont is about as business friendly as the ocean is to airplanes. Government thinks it’s protecting Vermont by restricting business growth. What?! We need money but we put our not welcome signs up to most all big business.
Instead of this approach let’s try a new one. If an environmentally friendly big business is offered the right incentives they might finally give Vermont a serious look. The following is an example. (The percentages might be higher or lower depending on a committee assessment of plausibility.)
Business XYZ wants to relocate someplace. Vermont says we have an opening in the Northeast Kingdom. If you are willing to set up shop, train and hire Vermonters, employ more than 10 employees, hire local contractors to build your facilities, then we will be willing to offer you a 100% break on your business taxes for the first two years you stay here. After two years you will save 25%. After four years 10%. After five years you will be at par with other local businesses.
Another important piece of this pie is to make sure there is quality transportation for their goods and employees. Not many companies will relocate to an area that has zero transportation set in place, such as is the situation in the NEK presently. This is why it is so important for Vermont to move forward in building its own airline. There will be more of this on my website under its own heading.
We also need to improve our rail and bus service throughout the state.
Business need not be a four letter word to Vermont. There are many quality companies and many financial institutions that would love to locate in our regions. Let’s make it happen. We will create jobs, increase our population, keep our kids in Vermont, and build our tax base.
Small Business
As we all know, when it comes to job creators it’s small business that does the most hiring. As we also know, small businesses tend to either make it or go under in the first five years. Why then are we not making sure they have the best opportunity to succeed?
If a Vermonter wants to start a business we need to help them become successful.
Low cost state loans must be available.
For the first five years there must be tax breaks for those starting a business. As an example, we should offer zero business taxes for the first two years. After two years they pay 25% of the tax base. After three years it is up to 50%. After four years it raises to 75%. And, after five years it is 100% of the tax rate. This gives them time to adjust and grow.
Utilities must not be allowed to treat a business differently than a residence. The rates must be the same for both. If you use more water or electric then you pay for what you use.
Insurance companies who offer discounts to new businesses should be compensated during the first five years.
Along with the Small Business Association we must have a Vermont Department of Business Assistance set up to help start-up businesses. We can assist them in everything from legal forms to human resources needs. There will be no charge for these services within the first five years. It will run similar to SCORE, with much of the assistance provided by retirees.
Taxes, lack of jobs, minimal on the job training for quality jobs, high cost of doing business, all this needs to change. Vermont, if we want to continue to be a populated state, must evolve and look at more progressive ways of supporting companies, small businesses and entrepreneurs. It’s all certainly possible and it’s also important!