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Jaime Stewart, Executive Director Jennifer Surat, Director of Development
Summer 2016 Volume 16, Issue 4
C e n t r a l V e r m o n t E c o n o m i c D e v e l o p m e n t C o r p o r a t i o n
Vermont Unemployment Rates (%)
City/Town April '16
March '16
April '15
Vermont Total 3.0 3.5 3.8 Barre-Montpelier 2.9 3.7 3.6 Bennington 3.7 4.3 4.6 Bradford 3.7 3.2 3.9 Brattleboro 2.1 2.6 2.7 Burlington- S. Burlington 5.7 6.9 6.8 Hartford 2.8 3.7 4.0 Manchester 3.9 3.9 4.9 Middlebury 2.8 3.7 3.8 Morristown-Stowe 4.5 5.2 5.4 Newport 3.6 4.6 4.3 Randolph 2.9 3.2 3.3 Rutland 3.2 3.9 3.9 Springfield 3.3 3.6 4.5 St. Johnsbury 4.2 3.2 4.2 Swanton-Enosburg 3.9 4.8 5.4 Warren-Waitsfield 2.3 2.8 3.0 Woodstock 4.3 3.1 4.7
*Source: VT Dept. of Labor
CVEDC Welcomes Jamie Stewart Q and A with new Executive Director
By CVEDC Intern Marina Bowie CVEDC Welcomes New Executive Director Pg. 1 Annual Leadership Seminar Pg. 2 Job Fair Recap Pg. 3 VtSBDC Update Pg. 3 Around the Region Pg. 4 Financing Roundtable Pg. 5 Upcoming Events Pg. 6
Inside This Issue:
Marina: Can you tell us about yourself?
Jamie: I grew up in Baltimore. Went to Lehigh University in Bethlehem, Pennsylvania, where I met my wife and our first son was born. We moved to Vermont with our newborn in the spring of 1984 with plans to open a ski/ sporting goods store. In 1991, I began work as a technical assistance advisor with the Vermont Job Start Program. Eighteen months later I was hired as one of 4 specialists with the newly reconstituted SBDC, serving Addison, Rutland, and Bennington Counties. In 1996, I was hired to be the Executive Director of Addison County Economic Development Corp where I led the organization for the next 12.5 years. Seeking new challenges, I was then hired to be the Executive Director of Rutland County Economic Development Corp, where I worked until the merger with Castleton University. I have been married to my wife Bonnie for 36 years, with two
sons, Liam age 32 and Doug age 30.
Marina: What is your favorite past time?
Jamie: I am an avid sailor currently with a C&C 36 on Lake Champlain.
Marina: Tell us about your professional career
Jamie: I have served on multiple boards of economic development entities and service
programs. Represented Vermont’s ED community on the Northeastern Economic
Development Association board, serving in all Executive Committee positions, including the Presidency as only the 3rd person from Vermont to hold that position in over 50 year history of the organization. I was also named Economic Developer of the year by NEDA in 2008.
Marina: What experience do you have in economic development?
Jamie: A career in economic development has allowed me to play a role in support of
CVEDC PO Box 1439 Montpelier, VT 05601-1439 CVEDC.org
Article Continued on Page 4
New Executive Director Jamie Stewart gets to know CVEDC Board Member
Carol Ellison
T he Central Vermont Economic
Development Corporation (CVEDC) held its annual leadership seminar in Northfield on Wednesday June 1st, 2016 at Norwich University. CVEDC was honored to have Dr. Jackie Freiberg, a best-selling author from California as this year’s speaker.
Dr. Freiberg is both an author, speaker, and a successful business owner. She has authored several books including ‘NUTS’, ‘GUTS’, ‘BOOM’, ‘NANOVATION’, and her most recent, ‘CAUSE’. Jackie Freiberg travels around the country to speak to businesses about leadership, innovation, engagement, and the SheEconomy.
In her speech in Northfield, Jackie touched on each of these themes, making connections to real world businesses and using well-known companies as examples. Speaking about leadership Jackie said, “It’s the leader of today who knows how to ask”. When she spoke about engagement in the business world she informed the group that,
“Engaged people with ideas are your most valuable asset”.
Attendees of the event included CVEDC board members, individuals from National Life, Sugarbush Resorts, Nicom Coatings Corp, WDEV Radio, Vermont State Employees Credit Union, Central
VT Medical Center and many more. Attendees were enthusiastic and appreciative of the material presented and look forward to next year’s leadership seminar.
CVEDC would like to thank our sponsors, National Life Group, Northfield Savings
Bank, Nicom Coatings Corp., Norwich University, Union Mutual Insurance, Central Vermont Chamber of Commerce, Peter Hood,
Denis Ricker & Brown, Green Mountain Power, and Rock of Ages.
CVEDC Held Annual Leadership Seminar Speaker: Dr. Jackie Freiberg on ‘How Culture & Cause Drive
Engagement & Service’
‘Cause!’ A Business Strategy for Standing Out In A Sea of Sameness. Dr. Jackie
Freiberg’s latest book featuring Central VT’s own, National Life
Dr. Jackie Freiberg
Page 2 Summer 2016
Find us on Facebook to hear about events and our latest updates.
We are now on Instagram as ‘CVEDC’. Check it out!
Visit us online at http://www.cvedc.org
CVEDC PO Box 1439 Montpelier, VT 05601-1439 CVEDC.org
Dr. Jackie Freiberg speaks to the audience about leadership.
The Central Vermont Economic Development Corporation and VocRehab Vermont recently held the 7th annual Central Vermont Job Fair in the Barre Auditorium in Barre, Vermont on April 6th.
This year’s event had 60 businesses participating, and 788 job seekers in attendance. According to the vendors and participants, the job fair went smoothly. Of the attendees who participated in the exit survey, 90% said they found the Job Fair helpful, and 90% said they intend to apply to one or more positions offered at the job fair.
News of the event was spread through the radio, newspaper, posters and signs, flyers, and more. During the event WDEV Radio VT and Frank/ Froggy offered all day live coverage.
The event allowed for on-the-spot interviews. As in
previous years, a resource room was
available to attendees who needed resume help, access to copiers, and/or access to computers for on-line job applications.
See page five for details about the 8th annual Central Vermont Job Fair in 2017.
7th Annual Central VT Job Fair
Held April 6, 2016 at the Barre Auditorium
Are you starting to think about selling your business? Time to retire and move to warmer weather? We at VtSBDC can help you look at your business and see what it is currently saying the business may be worth. Using some common rule of thumbs we can help you explore the current state of affairs as well as develop a program moving forward to help position your business to maximize the sale price. We do not provide a full valuation analysis but rather look at various pricing
methods such as multiples used in today’s market using SDE, EBIT and EBITA to help you have an idea of the value of your business. These methods are based on your financials and the multiple factor that is industry based from thousands of sales generally. If you have an interest please contact Charley Ininger at [email protected]
or 802-279-9941.
Page 3 Summer 2016
Originally from Jericho, Marina is currently a Junior at the University of New Hampshire, where she majors in Economics with an option in Public Policy and Sustainability, and minors in Business Administration.
After graduating college in 2018, Marina sees herself moving west either to California or Colorado. Once there, her goal is to pursue and to develop a better understanding of how economies are becoming centralized around environmentally friendly and sustainable businesses.
Outside of work and school Marina enjoys hiking, camping, swimming, and traveling. A dog lover, Marina looks forward to one day being the owner of a Husky or an Australian Shephard.
CVEDC PO Box 1439 Montpelier, VT 05601-1439 CVEDC.org
A Note About CVEDC Intern, Marina Bowie
Job seekers and vendors from the 5th annual Cen-tral Vermont Job Fair at the Barre City Auditorium.
Positioning Your Business For Sale
By: Charley Ininger, VtSBDC Advisor
Page 4 Summer 2016
CVEDC PO Box 1439 Montpelier, VT 05601-1439 CVEDC.org
businesses that create the jobs that provide Vermonters with the economic quality of life they desire. With a strong focus on the entities that have the greatest opportunity for growth of high wage jobs, an RDC can significantly impact a
community for the long term in a very positive way.
Marina: If any, what changes do you intend to make at CVEDC?
Q & A with Executive Director Jamie Stewart Continued from page 1...
Around the Region
By: CVEDC
The Central Vermont Economic Development Corporation is seeing a change in leadership. Executive Director Sam Andersen will retire at the end of this month following a ten year career with CVEDC. Jamie Stewart, no stranger to the economic development world (formerly with Rutland and Addison Counties) will step in as the new Executive Director.
“Our group felt confident that Jamie’s background, reputation and experience fit perfectly with the needs of our organization,” stated Mark Nicholson, Chair of the CVEDC Board and Vice
President of Nicom Coatings Corporation.
“The most important factors for me in seeking this position were the level of engagement by the Board and the strength of the staff. CVEDC has been an effective voice for business in the region under Sam’s leadership, and I am looking forward to continuing to build on her good work,” stated Stewart after learning of his new role.
As the summer of 2016 approaches the Central Vermont region is experiencing a period of stronger economic activity and growth then in the past year. The regional unemployment rate is low and the demand for new employees is increasing.
This was evident at the 7th Annual Central Vermont Job Fair which took place in April at the Barre Auditorium. Over 60 vendors with jobs ranging from managerial to retail sales saw a crowd of over 750 job seekers.
The ski industry in Central Vermont had a challenging year. Although there were no major layoffs, they will need to rely on a hearty summer tourist season in our Mad River Valley. The Valley is also in the midst of creating an Economic Development Plan to bring more vibrancy to the Valley.
Our agricultural industries are seeing an excess in milk supplies and therefore lower milk prices for our dairy farmers. On the bright side, Vermont as a whole had one of the best Maple Sugaring seasons in history. Specialty foods sectors, and in particular breweries and distilleries, continue to thrive in the Central Vermont region. The region’s award winning Heady Topper brings tourists into the Waterbury area on a year around basis. Many distilleries, wineries and breweries are talking of expansion in the coming future. Old Route 2 Distillery just opened in the Wilson Industrial Park in Barre.
In Northfield, the loss of B.T. Chouinard/Comfort Colors meant a loss of jobs for many of our
From left: Director of Development Jen-nifer Surat, retiring Executive Director
Sam Andersen, & Jamie Stewart
Article Continued on Page 5
Page 5 Summer 2016
CVEDC PO Box 1439 Montpel- CVEDC.org
Financing Roundtable Attracts Vt Business Owners and Entrepreneurs
region’s workers. At the same time, Northfield Savings Bank announced they were moving their headquarters out of the Northfield area and into a new facility in Berlin. As doors were shutting, the town was fortunate that other doors opened. Ric Cabot of Cabot Hosiery/ Darn Tough, announced expansion plans for their iconic socks manufacturing facility almost simultaneously. Over one hundred new job opportunities have been created with this expansion.
In Berlin, Northfield Savings Bank completed their new building and the Berlin Mall gained a
new retail shopping outlet, Kohl’s, in the spring of this year.
The City of Montpelier is in the process of completing their Economic Development Strategic Plan and Waterbury is booming with activity, which is keeping new Director Zoe Gordon on her toes.
On the whole we see multiple sectors growing in the region, and expect to experience strong job growth and business investment in the coming year.
Around the Region Continued from page 4...
Thank you to our Financing Panelists
Bill Roberts Vt Economic Development Authority Charles Ininger Vt Small Business Development Center Deanna Carroll Vermont State Employees Credit Union H. Kenneth Merritt Jr. Merritt and Merritt Janice St. Onge The Flexible Capital Fund John Young Vt Training Program Justin Bourgeois Community National Bank Kevin Morehouse U.S Small Business Administration Leah Fury Community Capital of Vermont Raymond Lanza-Weil Vt Community Loan Fund Rosemarie White Northfield Savings Bank
Central Vermont Economic Development Corporation held its second annual Financing RoundTable on Monday, June 27th. The event was held at the Vermont State College’s Conference Room on Stonecutter’s Way in Montpelier. Eleven panelists across various financial sectors attended in hopes of informing Vermont business owners and entrepreneurs of the financing opportunities available to them. Panelists came from varying areas of finance such as Community National Bank, Vermont Economic Development Authority, and the Flexible Capital Fund to name a few. Twelve prospective or existing business owners attended the panel discussion. Feedback received after the event implied the panel discussion was an overwhelming success.
Next year’s Central VT Job Fair will be held on Wednesday April 5th in the Barre Auditorium. The Central Vt job fair is hosted by the Central Vermont Economic Development Corporation (CVEDC) in conjunction with VocRehab Vermont. Visit www.centralvtjobfair.com for more info.
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Page 6 Summer 2016
CVEDC PO Box 1439 Montpelier, VT 05601-1439 CVEDC.org
Calendar of Events By: Marina Bowie
Upcoming in July:
On Thursday, July 14th from 12:00pm to 2:00pm the Vermont Small Business
Development Center (VtSBDC) will be hosting a two hour workshop on Business Basics in Bennington. Business owners and entrepreneurs around Vermont who need help getting ready to start their business will find this seminar with speakers Brian DeClue and Steve Paddock helpful and informative.
On Friday, July 15th from 9:00am to 12:00pm the Vermont Small Business Development
Center (VtSBDC) will hold a ‘Marketing Bootcamp Workshop’ at the Howard Dean Education Center in Springfield. A panel of marketing professionals will educate new and existing business owners on how to create an effective marketing plan.
Visit https://vtsbdc.centerdynamics.com/Events.aspx for VtSBDC event fees and other details.
Events in July and August:
The Vermont Manufacturing Extension
Center provides periodic public workshops and training sessions on ‘Profitable Growth
and Innovation Engineering’, ‘Innovation
Engineering Fundamentals’, ‘Introduction to
Innovation Engineering for Company
Leaders’, ‘Strategy Activation: Translating
Strategies to Actionable Missions’, and
‘Technology Scouting & Technology Driven
Market Intelligence (TDMI)’. A number of workshops are scheduled for July and August and are focused around the said topics.
For more details visit www.vmec.org
Plan Ahead! Upcoming in September:
The Vermont Chamber of Commerce will host the 2016 Trade Show called ‘Manufactured in
Vermont: A Supply Chain Conference & Trade
Show’ on Wednesday, September 21st from 9:00am until 5:00pm at the Champlain Valley Exposition Center on Pearl Street in Essex Jct.
For registration and agenda information visit www.manufacturedinvt.com.
The Central Vermont Economic Development Corporation thanks you for your continued interest and support. We look forward to being a part of Central Vermont’s continued economic growth!
Central Vermont Economic Development Corporation
PO Box 1439 Montpelier, VT 05601-1439
(802) 223-4654 [email protected]
Jamie Stewart
Executive Director
Jennifer Surat
Director of Development
Marina Bowie
Marketing & Development Intern
Page 7 Summer 2016
1 National Life Drive PO Box 1439 Montpelier, VT 05601-1439 [email protected] Call: (802) 223-4654 / FAX 802-223-4655 [email protected] Toll Free: 888-769-2957
CVEDC Officers: Mark Nicholson—Chair Nicom Coatings Cory Richardson—Vice Chair Northfield Savings Bank Greg Woodworth—Treasurer National Life Group Amy Mattinat—Secretary Auto Craftsmen
Board of Directors: Jon Anderson — Burak Anderson Melloni
Jessie Baker — City of Montpelier Marino Barolomei —TD Bank Tom Beardsley—WDEV Radio VT Carol Ellison—Town & Country Association John Fitzhugh—Union Mutual Ins. Wil Hamilton—Community National Bank Paul Hutchins—Rock or Ages Peter Hood—Noyle W. Johnson Ed Larson—Larson Forestry & Legislative Consulting Don Lorraine—Green Mt. Power Bill Moore—CV Chamber Gunner McCain—McCain Consulting Michael Nobles—Union Mutual Francis Topper McFaun—State Rep Robert Patterson—CVMC Bob Pope—Swenson Granite Peter Ricker—Denis, Ricker & Brown Michael Schumacher—Schumacher Construction Jim Tringe—Cabo Creamery Coop. Candice White—Sugarbush Bonnie Waninger—CVRPC David Whaley—Norwich University
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CVEDC PO Box 1439 Montpelier, VT 05601-1439 CVEDC.org
