Montpelier, VT (January 29, 2025) –Yesterday, the Vermont Futures Project announced the launch of its much-anticipated Economic Action Plan, a comprehensive, data-informed roadmap designed to address Vermont’s workforce and housing challenges and secure a prosperous future for the state. It was shaped by public engagement with over 5,000 Vermonters across all 14 counties. The plan sets clear, long-term targets and offers actionable strategies to put Vermont on a path towards affordability and abundance.
“Vermont faces critical challenges, from a shrinking workforce to a severe housing shortage,” said Kevin Chu, Executive Director of the Vermont Futures Project. “This plan is not just about identifying the problems but also providing data-informed solutions that align with the hopes, dreams, and ambitions of Vermonters.”
Why Vermont Needs This Plan
Vermont’s affordability crisis and stagnant population growth have strained public services, increased housing costs, and limited economic opportunities. Without strategic action, these challenges will continue to erode the state’s economic vitality. The Economic Action Plan offers a bold alternative—a future of affordability, sustainability, and shared prosperity.
The Economic Action Plan offers a dual framework of People and Places, focusing on actionable strategies to recruit and retain working-age people, increase labor market participation, expanding housing and infrastructure, and aligning policies with evolving community needs.
“Vermont is a leading indicator for the country in terms of the economic impacts of demographics and housing scarcity. We have an opportunity to be leaders in how to address these challenges. Data isn’t destiny; if we don’t like where the trend lines are going, we can do something about it. This Economic Action Plan does exactly that and puts Vermont on a path towards affordability and abundance.”
Key Goals of the Plan – 2035 Targets
- Population Growth: Increase Vermont’s population to 802,000 residents.
- Workforce Engagement: Raise the labor force participation rate to 70%.
- Housing Expansion: Increase Vermont’s non-seasonal housing stock to 350,000.
- Efficient Development: Reduce development timelines and regulatory costs by 40%.
Call to Action
Achieving these goals will require incremental progress of 2% population and housing growth annually over the next decade. The plan emphasizes shared responsibility among residents, visitors, businesses, educational partners, and policymakers. The Vermont Futures Project calls on all Vermonters to join in this effort. From welcoming new residents and fostering inclusive communities to supporting growth initiatives and policies, everyone has a role to play in shaping Vermont’s Future.
Read the full Economic Action Plan here.
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About the Vermont Futures Project
The Vermont Futures Project is an independent non-partisan organization pursuing answers to their mission question: How can we use data to support the evolution of Vermont’s economy towards a thriving future full of opportunity for all?