Submitted by tim
on
by Joy Choquette, Vermont Business Magazine
The benefits of running a small business in Franklin County are great. Here are some of the strongest reasons to begin or continue business in the county:
- Dairy Farmers of America recently invested $30 million into its St Albans plant and plans to invest another $10 million for milk hauling.
- The Town of Swanton received $1 million in Community Development Block Grant funds. These monies will be loaned to Leader Evaporator to provide working capital while the company completes its turnaround plan.
- Unemployment in Franklin County is lower at 11.6 percent than the Vermont average of 12.7 percent.
- Community rejuvenation projects are underway in the towns of Enosburg, Richford, and Swanton.
- The Franklin County State Airport could receive more than $2.2 million in federal funds to rebuild and expand its existing runway.
- Citizens continue to show dedication to local merchants, restaurants, and other local businesses. “Buy local” remains an important focus in Franklin County.
- A solid work ethic and a diversity of industries in the area promote a strong business landscape.
- Manufacturers such as Barry Callebaut, Ben & Jerry’s, Kaytec Inc, Mylan Technologies, Peerless Clothing, Westrock, and others remain mainstays in the county.
- Like every area of Vermont, Franklin County has its share of challenges. Here are some of the most pressing issues that face current and potential business owners now:
- COVID-19-related issues include the closed border between Franklin County and Canada, drastically reduced tourism, poor milk prices, greater unemployment than usual, and partial capacity or other restrictions that most establishments are dealing with.
- Childcare, housing, transportation, and substance abuse issues continue to be real challenges in the county. Also, broadband internet is not available or reliable in all areas of Franklin County.
- Uncertainty looms for many small business owners as they struggle to carry on with “business as usual” in the face of very unusual circumstances. Some businesses have closed, others are struggling to stay afloat.
- Reduced networking opportunities, community events, and other gatherings pose a hardship for many businesses in the area.
- The threat of furlough for many employed by Homeland Security in the area and the layoffs which have already taken place at NMC create financial hardships for citizens, and upset the delicate balance of the local economy.