The City of Montpelier will hold two public conversations about Montpelier’s economic future with the goal of answering the question: How can we encourage private investment in the City to take advantage of the unique opportunities presented in Montpelier? Public meetings will take place on March 2nd at 7:00 PM and March 3rd at 8:00 AM in the City Council Chambers at Montpelier City Hall, 39 Main Street. This is an opportunity for all interested parties to learn more about the Economic Development Strategic Plan and share ideas about Montpelier’s economic future.
How do we keep Montpelier’s economy vibrant and prosperous? That’s the question being addressed by Montpelier’s Economic Development Strategic Plan (EDSP). The EDSP will create an action plan for preserving and strengthening the vitality of the City’s economy. Using the City’s community character and quality of life as its foundation, the EDSP will assess the existing economic conditions and seeks to involve local businesses, key stakeholders and the community in the development of an action plan that sets clear priorities for staffing, investment and community activities to promote economic health and vitality in the Montpelier.
The analysis done to date suggests that, while Montpelier’s economy is in relatively good shape today, it is coming under increasing competition for businesses and jobs. For example, recent jobs data for 2009 to 2014 show that Barre and Waterbury added hundreds of private sector jobs over that time, while Montpelier’s private sector added only 10 jobs in the same time frame. If this trend continues, the City could see a long-term loss of jobs, population and businesses to other locations in Central Vermont and beyond.
Montpelier has its challenges, but there are also lots of opportunities. The good news is Montpelier still has a vital economy and can take action to avoid losing its prosperity. The preliminary analysis for the Economic Development Strategic Plan shows that Montpelier has opportunities in such business sectors as:
• Professional, Business and Not-for-Profit Services
• Finance & Insurance
• Specialty Retail
• Tourism & Hospitality
• Adult Learning
• Advanced Manufacturing
Join the conversation about Montpelier’s economic future on March 2nd and 3rd! For more information on the EDSP please visit: http://montpelierplan.com/