Senate committee asks state agencies to inventory business‑development supports, targets early‑October report

Members of the Senate Economic Development committee on the Senate floor asked the Department of Economic Development and the Department of Tourism and Marketing to compile an inventory of business‑development resources and present the results to a task force in early October.

The committee’s presenter, an unidentified committee member (S1), proposed that the two departments “pull together an inventory of the resources available to all stages of business development” and assess how those resources are marketed inside and outside state government. S1 said the inventory should identify gaps — particularly in access to capital — that the task force can address after receiving the departments’ findings.

Why it matters: Committee members said the inventory is intended to reveal what supports exist for startups through mature companies, how well those programs are communicated, and where additional resources or marketing would improve equitable business growth across Vermont.

Committee discussion focused on timing, membership and scope. Several members agreed early October was a realistic deadline for a presentation; others said mid‑September could be possible but noted summer schedules. S1 suggested the task force include the treasurer or a designee and a representative of the Vermont Futures Project (Kevin Choo), and said the treasurer’s office should be engaged in consultation with other business stakeholders.

On stakeholders and administration, S1 named Lyle Jepsen and his team at the Department of Economic Development, Linda Rossi and the Vermont Small Business Development Center, and representatives of professionals of color as partners in developing the inventory. Another participant said the Agency of Commerce and Community Development (ACCD) would be the administrative lead and that committee staff were confirming details with Scott Morris.

The committee also discussed policy additions and funding. S1 asked whether to insert language from S.88 to add an enhanced incentive for employee‑owned or member‑owned cooperatives. On microbusiness support, S1 said the program had started at $1,000,000 and “it’s sadly been cut every year,” and that the committee was asking for an additional $100,000 in the draft under consideration.

A member reviewing the draft noted the bill’s listed powers and duties (page 7) would direct the departments to aggregate available resources, determine what additional resources are necessary, and develop marketing approaches; a separate component would address an "access to capital" passport to help businesses navigate funding options.

S1 asked that the committee circulate the draft bills — including a housing bill referenced during the session — that night so members could review them ahead of a planned vote at the committee’s meeting tomorrow morning. The presenter said the aim of the meeting was to prepare the bill for introduction and to have the departments and named stakeholders testify when the task force convenes.

Stakeholder attendees introduced during the session included Rosie (Capstone’s new microbusiness person), Nicole Keller, Wei Wei Walshi (co‑executive director, Vermont Professional Support Network) and Linda Rossi (state director, Vermont Small Business Development Center). Rossi thanked the committee “for clearly demonstrating your continued interest in understanding the needs of small businesses in Vermont and, wanting to support them in the best way possible.”

Next steps: The departments were asked to prepare the inventory and present to the task force by early October; the committee planned to circulate draft bills that evening and to vote on them at the next meeting. No formal amendment or final vote on the inventory plan was recorded during the session.