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Vermont Chamber: Manufacturing still a key economic engine but jobs are falling, R&D seen as path forward
Summary
The Vermont Chamber told lawmakers manufacturing contributes about $3.3 billion (roughly 7% of state GDP) but employment has declined and is projected to fall; the chamber urged expanding R&D incentives (H.933) and reducing barriers that raise costs and hinder expansion.
The Vermont Chamber of Commerce told a joint legislative hearing on manufacturing that the sector remains a major contributor to the state economy but is shrinking as a share of output and employment.
Amy Spear, president of the Vermont Chamber of Commerce, said manufacturing accounts for roughly $3.3 billion in GDP and about 7% of Vermont’s economy, and warned that manufacturing employment has declined 11.3% since the first quarter of 2020 and is projected to…
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