Vermont Business Magazine The Vermont Economic Development Authority, or VEDA, has named Joan Goldstein as its next chief executive officer. Goldstein succeeds Cassie Polhemus, who previously announced she is stepping down effective June 30, 2025. Governor Phil Scott announced February 20 that Goldstein will leave her role leading the Department of Economic Development at the end of April.
After leading the Authority for the past six years, including through the challenges of the COVID-19 pandemic, economic ebbs and flows and the 50th anniversary of the organization, Polhemus will pass the baton to Goldstein.
Goldstein currently serves on VEDA's board of directors and is Commissioner of the Vermont Department of Economic Development. Previously she served as executive director of the Green Mountain Economic Development Corporation, as a small business advisor for the Vermont Small Businesses Development Corporation, and, before moving to Vermont, at JP Morgan and Credit Suisse in a variety of international sales, marketing, client relationship and project management roles.
"It was an honor to serve Vermonters as part of Governor Phil Scott’s Administration as the commissioner of the Department of Economic Development, and I now look forward to leading VEDA," Goldstein said. "As a board member I have been fortunate to see the breadth of work done to help advance business in Vermont and I thank the Authority for entrusting me with this responsibility."
VEDA’s board vice chair, Karyn Hale, led the board’s extensive search process and said, “Joan’s passion for strengthening Vermont’s economic vitality and her extensive experience and leadership in economic development make her the right person to continue VEDA’s mission and positive impacts on Vermont’s economy."
Polhemus has led VEDA since 2019, taking over from long-serving Jo Bradley. Polhemus joined the Authority in 2013 as a commercial lender. In 2014 she became director of operations and then chief operating officer in 2017. She brought to the organization more than 20 years of experience in commercial lending and risk management with financial institutions in Vermont and Connecticut. VEDA celebrated its 50th anniversary in 2024.
"I am incredibly proud of our work at VEDA and the ways in which the Authority and I have grown together," Polhemus said. "It has been a pleasure working with Joan on our board, and I look forward to following VEDA's journey with her at the helm."
VEDA's board chair, Ted Foster, thanked Polhemus for her tireless efforts for the Authority.
"Cassie's leadership has been an incredible asset to VEDA and the Vermont business community," he said. "She guided us through unprecedented traumas, including the COVID pandemic and the creation of a hugely successful forgivable loan program, the creation of a new program to empower those in the forest products industry and changes for the industries VEDA serves, from clean energy to traditional and diversified agriculture. We appreciate all she has done and look forward to the ways in which her influence will positively impact Vermont for years to come."
Goldstein has served as the Commissioner of the Department of Economic Development since April 2015. She was initially appointed by former Governor Shumlin and reappointed in 2017 by Governor Scott. During that time, she has taken an innovative approach to redeveloping programs. Goldstein and her team also created and implemented investment programs for COVID-19, flood relief and recovery managed by the Department.
“Joan has been a valued member of my team and has demonstrated strong leadership and creativity in her role as commissioner,” said Governor Phil Scott. “She was instrumental during the pandemic and floods to create programs that filled gaps and met the needs of Vermont employers. I’m grateful for her service and wish her all the best in her new role.”
Goldstein will join the team in late April.
The Vermont Economic Development Authority is the statewide economic development finance lender. Created by the General Assembly in 1974, VEDA’s mission is to contribute to Vermont’s economic vitality by providing a broad array of financing programs to eligible businesses that create jobs and help advance Vermont’s public policy goals. veda.org
Cassie Polhemus with Governor Scott last October at VEDA's annual meeting, where it was announced that she would be retiring in 2025.
The Department of Economic Development, within the Agency of Commerce and Community Development, works to strengthen economic activity throughout the state to ensure Vermont’s long-term economic health and promote growth in quality jobs for Vermonters. The Department makes connections to programs focused on employee training and workforce development, market expansion, facility location, and environmental remediation to help businesses start or expand in Vermont and strengthen our rural economies.
Source: 2.20.2025. Governor. 109 State Street | The Pavilion | Montpelier, VT 05609-0101 | www.vermont.gov
To support vital journalism, access our archives and get unique features like our award-winning profiles, Book of Lists & Business-to-Business Directory, subscribe HERE!
