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Economic development briefing highlights Canada ties, STEP grant risk and semiconductor recruitment
Summary
Department official outlined Canada‑focused recruitment, reliance on a Quebec in‑market representative, uncertainty around a federal STEP grant (~$4 million/year) after federal disruptions, and plans for a regional semiconductor corridor and global outreach to build manufacturing capacity in Vermont.
Tim Feony, introduced as director of business recruitment and international trade in the Department of Economic Development, briefed the committee on Vermont’s international recruitment and export support efforts, with an emphasis on Canada and a regional semiconductor strategy.
Feony told senators the department maintains an in‑market representative in Quebec that generates leads and supports visits; the contract for that representative expires in October and the department anticipates requesting funds to continue the role. He warned that federal uncertainty following a government shutdown could affect the State Trade Expansion Program (STEP) grant that the department has used to help exporters. “We receive about, $4,000,000 a year to help export companies,” Feony said, noting the grant supports market research, trade shows and other export activities and that timing for the federal allocation was unclear after the shutdown.
On recruitment, Feony described a Northeast semiconductor manufacturing corridor memorandum of agreement with partners in Quebec and New York and said Vermont is seeking to strengthen its role in packaging and advanced manufacturing. “We signed a Northeast semiconductor manufacturing corridor memorandum of agreement with companies and province of Quebec regarding semiconductor manufacturing,” he said, and the state is pursuing partnerships and targeted recruitment in Asia and Europe to fill supply chain gaps.
Senators asked about measurable outcomes and facility readiness. Feony said the recruitment pipeline is long (often 18 months or more) but pointed to recent inquiries from steel and metal firms and to export activity among established Vermont manufacturers. He offered to return with a list of affordable incentive options, impediments the committee could remove, and comparative data on other states’ incentive packages.
The committee paused the briefing and planned additional follow‑up; it will resume with a scheduled meeting with Joe Goldstein, the new head of the Vermont Economic Development Authority.
