State Resources


Vermont Business Resources

Vermont is one of the New England States and is located in the Northeast United States, sharing a border with Canada. Its population distribution stands out compared to the other East coast states, as Vermont’s population is predominately rural. It is the sixth smallest state in the country and yet holds an exceptionally diverse physical geography that ranges from mountainous areas to fertile flatlands and valleys.

In Vermont’s beginning, farming was the strongest contributor to its economy, but manufacturing took over in the twentieth century. Electrical equipment is currently the leading manufactured product, making up about a third of the industry’s income. In the last several decades, the service industry has seen the most growth, with tourism consistently on the rise. Vermont is the nation's leading producer of maple syrup, accounting for over 25% of the nation's total.

Business Data

Per Capita Real GDP$34,472 Rank: 29/50 (2006)
Population608,827 Rank: 49/50 (2000)
Per Capita Personal Income$34,264 Rank: 24/50 (2006)
Unemployment Rate4.20% Rank: 19/50 (2008)
Business Tax Climate IndexRank: 44/50 (2008)
Corporate Tax Rate6% - 8.5%
Individual Tax Rate 3.6% - 9.5%
Sales Tax Rate 6%

Business Tax Climate Index

Individual Income Tax Index Rank46
Sales Tax Index Rank15
Unemployment Insurance Tax Index Rank16
Property Tax Index Rank46
Business Tax Climate Index44
Corporate Tax Index Rank32

State Information

AbbreviationVT
CapitalMontpelier
Nick NameGreen Mountain State
State Web Sitehttp://www.vermont.gov
MottoFreedom and unity

Top 5 Export Partner Countries

Canada, Taiwan, Singapore, Korea, South, Hong Kong

Top 5 Export Merchandise

Electrical Equipment Sales Machinery Sales Electrical Equipment Manufacturing Plastic and Rubber Products Manufacturing Printing Manufacturing

Major Cities

Burlington, Rutland, South Burlington

GDP

Total Gross Domestic Product (USD Millions) $24,543.00 (2007)
Per Capita Real GDP (USD)$34,197.00 Rank: 32 (2007)

Population Stats

Population 621,270 Rank: 49 (2008)

Age Distribution

Under 18 Population147,523
Under 18 Percent of Total Population24%
65 and older Population77,510
65 and older Percent of Total Population13%

Gender Distribution

Male Population49%
Female Population51%
Non-English Speaker (at home)28,980
Net International Immigration4,359
Birth Rate10.6%
Percent of People Under Poverty Level11.5%
Rank32

Expenditure

Per Capita State Spending$5,221
Rank7
Energy Expenditures per Person$4,055
Expenditures of State and Local Government Employee-Retirement Systems$165,274

Revenue

Personal Income$34,796
Rank24
State Internal Revenue Collection$3,806,110
Rank49
Cash and Deposits by State Government$97,329
Per Capita State Tax Collection$3,880
Rank29

Education

High School Graduation Rate79.9%
Rank7
Percent of Population with a Bachelor's Degree20%
Rank6
Percent of Population with an Advanced Degree12.7%
Rank6

Largest Universities

Champlain College Norwich University University of Vermont
High School Graduation Rate79.9%

Logistics

Public Road Length (Mile)14,406
Gas Tax Rate (%)20%
Highway Planning and Construction (USD Thousands)143,266
Number of Public Airports17

Main Airports

Ports

Weather


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State Business Links

Burlington Free Press
http://www.burlingtonfreepress.com

Secretary of State

Vermont Secretary of State
http://www.sec.state.vt.us/
Government information and documents. Ensuring customer satisfaction and providing quality government services.

Small Business Administration

Vermont Small Business Administration
http://www.sba.gov/localresources/district/vt/index.html
The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. We recognize that small business is critical to our economic recovery and strength, to building America's future, and to helping the United States compete in today's global marketplace. Although SBA has grown and evolved in the years since it was established in 1953, the bottom line mission remains the same.

Top 10 Business Links

Department of Economic Development
http://economicdevelopment.vermont.gov/
The Vermont Department of Economic Development helps both in and out-of-state businesses who wish to establish themselves locally or abroad. Its website contains a wealth of resources, including economic data and industry specific information. The department is also part of several state initiatives, and provides various services to businesses.
Vermont Center for Emerging Technology (VCET)
http://www.vermonttechnologies.com/
The VCET is a business incubator, focused primarily on technology start-ups. It offers office and laboratory, as well as a mentoring service with members that include local business leaders and professionals. Residents of the incubator also gain access to the facilities and knowledge base of the University of Vermont.
Vermont Chamber of Commerce
http://www.vtchamber.com/
The chamber represents the business community of Vermont in fostering the state’s economic development and growth. It focuses primarily on business advocacy and assistance, facilitating B2B and networking opportunities amongst members. Aside from this, its website also features information for visitors to the Green Mountain state.
Vermont Environmental Consortium (VEC)
http://www.vecgreenvalley.org/
The VEC is dedicated to companies achieve sustainability and profitability by improving their processes. A few of the services it provides includes business development assistance, brand building, and networking opportunities.
Vermont Manufacturing Extension Center (VMEC)
http://www.vmec.org/
The VMEC helps smaller businesses within the state by optimizing their business processes. Services it provides include consultations, training workshops, and even one-on-one coaching.
Vermont Small Business Development Center (VtSBDC)
http://www.vtsbdc.org/
The Vermont SBDC is dedicated to promoting success and growth within the small business community of the state. It provides free counseling services, as well as affordable training programs in areas such as starting a business and entrepreneurship. The center’s website contains numerous resource links, and an extensive guide to E-commerce.
Vermont Women’s Business Center (VWBC)
http://www.vwbc.org/
The VWBC is dedicated to promoting the growth and development of women businesses and entrepreneurs. It provides numerous services, a number of which are free of charge. These include the creation of business and marketing plans, financial management, E-commerce, and internet marketing.

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