A comprehensive economic analysis is underway in the Northeast Kingdom to
identify potential areas of employment growth and what skills people will
need to fill those jobs.
The study, being conducted by the Northeastern Vermont Development
Association (NVDA) is funded by a federal grant in conjunction with the
Vermont Department of Labor.
‘This study will provide us with solid economic research that will help
us establish priorities for our work in the region,’ said Steve
Patterson, executive director of NVDA.
Dave Snedeker, Planning Manager for NVDA, is heading up the project and
said the study will look at four different areas and:
determine ways that bio-medical companies in the Northeast Kingdom can cooperate for mutual economic benefit and determine whether a formal organization should be established.
assess key industry sectors that offer the most promise for sustainable competitiveness and higher wages.
draft a strategy to stimulate value added food production systems for the entire region.
develop a system to better gather tourism data and improve tourism planning efforts.
Patterson said cluster development, such as seen with the value-added
agriculture activity, might also be possible in the biomedical field.
‘We already have successful medical manufacturing companies in the
region. Add Newport’s proposed biomedical company and we may be able to
establish a way for the companies to help each other, as well as attract
similar businesses,’ Patterson said.
Other areas that will be studied include the establishment of a regional
food system development plan. This project will determine ways to expand
the already successful value added food sector.
This aspect of the study will identify local food sources, distribution
networks, packaging, marketing, and career paths that may be available.
What producers and buyers are facing as challenges will also be explored.
Tourism is a vital part of the region’s economy. The study will focus
on developing better research techniques, marketing plans, tactics,
branding and budgeting. Burke will be used as a model, but the techniques
developed will be applicable to other areas.
The last area of concentration in the plan is an analysis of key
industries in the region.
‘This will allow us to focus our economic development efforts towards
sectors of the economy that offer the post promise for sustainable
competitiveness and higher wages,’ Patterson said.
In addition to a detailed sector analysis, a plan for building capacity in
key sectors and ways to measure success will be included.
NVDA will be working with the Center for an Agricultural Economy on the
regional food system plan. The Economic and Policy Resources company,
which does much of the state’s economic forecasting will be doing the
economic sector analysis work, as well as the biomedical consortium
research. A national marketing company and the Burke Area Travel and
Tourism Committee will be working on the tourism portion of the study.