Greater Burlington economic development leader warns of shrinking industrial land, urges state recapitalization and housing supports

At a meeting of the Senate Economic Development, Housing and General Affairs Committee, Frank Coffey of the Greater Burlington Industrial Corporation described a decades‑long shift in Vermont economic development and urged the Legislature to replenish industrial land capacity and support housing and workforce programs.

Coffey said GBIC — the regional economic development organization for the Burlington area — was created by an act of the legislature in the 1950s to build industrial parks and the infrastructure necessary for employers. He told the committee those land‑banking strategies that worked in the mid‑20th century are strained today because land and infrastructure costs have risen sharply and available lots are rare.

"We were created in 1954 by an act of the legislature," Coffey said, and the organization historically used state and federal help to build water, sewer and road infrastructure so municipalities could host industrial parks. He added that GBIC still holds a small inventory of industrial lots, including two remaining lots at the Canada Industrial Park in Milton, which the group developed in 1983.

Why it matters: committee members were told that low industrial land capacity limits the state’s ability to attract employers that bring outside dollars into Vermont. Coffey said some formerly available acres sold decades ago for roughly $25,000 per acre; he said comparable land now often costs in the range of $250,000 to $300,000 per acre once permitting and infrastructure are accounted for.

Details and context: Coffey described GBIC’s partnerships with regional planning commissions, the Vermont Agency of Commerce and Community Development and local municipalities. He said GBIC works on comprehensive economic development strategies across a four‑county region that includes Chittenden and surrounding counties and that the entity focuses on employers that export goods or services and bring new dollars into the state economy.

Coffey also raised housing and workforce shortfalls as linked problems. He described GBIC’s recent work on housing initiatives for people with intellectual and developmental disabilities and said the organization has contracted experts to develop housing options for that population. He urged continued coordination with Champlain Housing Trust and state agencies and said the governor’s executive office and the Agency of Commerce have been important partners.

Asked what the Legislature could do, Coffey pointed to a specific capital ask: "If the program had $5,000,000, if there's money to recapitalize that, it would be really good to do," he said, urging recapitalization of programs that help create industrial infrastructure and land capacity.

Committee context and follow up: Committee members asked about transportation links and where new infrastructure investments would be most effective. Coffey described the long timelines for siting and building wastewater and other infrastructure and recommended a long‑range, regional approach to industrial land development that prioritizes locations near major highways and interchanges.

Coffey also emphasized education and workforce development as part of the solution. He described GBIC’s multi‑year work with K‑12, higher education, and career technical education centers, and noted data showing that a substantial share of Vermont high‑school graduates do not persist in postsecondary programs. He said earlier exposure to career and technical opportunities and better funding alignment could help retain and train local workers.

Ending: Coffey closed by urging the committee and the Legislature to consider targeted capital and programmatic support for industrial land and related workforce and housing investments. He asked legislators to listen to regional development corporations about what recapitalization would require and to consider sustained state support to build capacity rather than one‑off projects.