Senate committee reviews S.88 to add enhanced VEGI category for employee‑owned businesses

Sen. Wendy Harrison, sponsor of S.88, presented the bill Wednesday to the Senate Economic Development, Housing & General Affairs Committee as a targeted change to the Vermont Employment Growth Incentive (VEGI) program.

Harrison said the bill would create an enhanced incentive for locally owned and controlled, employee‑owned businesses (including worker cooperatives and ESOPs) to keep firms anchored in Vermont and increase the state’s return on investment. “They won't move out,” Harrison said of employee‑owned firms, arguing the structure makes them “better employers in terms of pay and benefits.” She cited Chroma as an example of a local company that converted to employee ownership and “is just doing great things.”

Rick Segal of the Office of…