Manufacturing and arts push economic vitality

Vermont Business Magazine, May 01, 2005 by Edelstein, Art

Windham County is economically healthy as we enter the second quarter of 2005. Local leaders point to low unemployment figures, a strong manufacturing sector, and a vibrant arts community fostering jobs and local interest, and a retail economy holding its own against the low tax 800-pound gorilla known as New Hampshire. The weak spots in this economy revolve around too much vacant and underutilized commercial space and concerns about the future of the local nuclear power plant. There is also some concern voiced about the lack of trained workers for future manufacturing growth.

"I think the county's economy is healthy based on employment, but there is always room for improvement," says Debbie Boyle a commercial lender at the Chittenden Bank in Brattleboro.

"Overall the economy in Windham County is thriving and improving," agrees Kurt Isaacson at the Brattleboro Development Credit Corp. He points to the low unemployment rate, buildings that had stood idle for several years that are now in use, and the Putney Road Business Association and the West Brattleboro Association, now working together," to try and create a vision for each of those areas that would promote mixed use development in a planned and controlled way," as signs of the healthy economy.

Isaacson says those associations, "will promote appropriate growth, and maintain and emphasize a village type atmosphere."

For chamber of commerce head Betsy Gentile, "the pluses are we've been identified as an historic, diverse and eclectic town that attracts people for that reason."

"For people who don't like to go to the malls and restaurants, we have shops," she notes. "The downside is we are competing with New Hampshire against their low tax rate and their big box stores."

Gentile also likes the new type of person moving to the county. "We are successful in attracting people - young entrepreneurs, creative conscious kinds of people interested in the lifestyle, where lifestyle is as important as the money that can be made."

"We are enjoying low unemployment," agrees banker Carl Lynde at Banknorth also in Brattleboro. However, he admits there is a downside to low unemployment. "Currently manufacturers are having trouble attracting employees. They are advertising bonuses." He points to GS Precision at the Exit One Industrial Park who has advertised a $750 signing bonus. "I have a sense that people are choosing not to work in manufacturing," says Lynde of this employment conundrum.

"Small business growth is active," reports Steve Casabona at the local Small Business Development Center, a division of Vermont Technical College. He sees a lot of changing hands with local businesses being sold and bought. "The sellers I see want to retire and there are new people moving to the area looking for a business to own and they seem to have a lot of expertise." New blood is arriving from the New York, Connecticut and from as far away as San Francisco.

"In general, business is very active," says Casabona, adding, "as long as interest rates don't go too high we will continue to see solid growth."

Further up river from Brattleboro in Bellows Falls Rich Ewald, the long time Director of Community Development for the Town of Rockingham, says, "our situation is strong. The future looks good. I'm not the only one making that assessment. From what I'm hearing people care about the community and have confidence in it and are willing to stake their future on it."

Isaacson at BDCC, the county's primary private business development organization, says one needs only to look to the pages of Vermont Business Magazine and the annual 5x5x5 awards, to see how well Windham Co. is doing economically. "This area has had six of the top 25 companies in VBM's 5x5x5 in the past year. This says that Windham Co. is a fertile area for business growth."

According to Isaacson, whose organization is now in its 51st year lending development expertise to the local economy, Windham Co. is fertile "because we have a good base of bright, smart, visionary entrepreneurial leaders who have been able to develop the labor force to meet their growing needs."

Brattleboro Labor Market Shows Steady Growth

Employment locally remains on the upswing with jobs in manufacturing and public education showing significant gains according to the latest figures available from the Vermont Department of Employment And Training.

As of February, the most recent figures available, there are 23,000 people in the local labor market of which 22,100 are employed and 900 unemployed. The total number of jobs in the labor market area as of the third quarter of 2004, the last figures available, were 22,827 up from 22,607 in 2003 an increase of one percent.

Unemployment stood at four percent in the Brattleboro labor market, statewide it was 4.2 percent (not seasonally adjusted). For 2004 the rate was 4.1 percent locally and statewide 4.7 percent.

A breakdown of the current labor market as of the third quarter of 2004 shows 2522 manufacturing jobs, an increase of 2.3 percent from 2003's 2466 jobs. In retail trade there were 2908 jobs, up from 2841 in 2003 an increase of 2.4 percent. Accommodations and food services showed the only loss with 2992 jobs down from 3100, a loss of 3.5 percent. Health Care and social services stood at 25-74 jobs up from 2545, a 1.2 percent rise. Educational services (private schools) were at 1449 jobs up from 1410 or a 2.7 increase.