Vermont’s Coalition for New Economy shared this news with us.
This week, State Treasurer Beth Pearce convened a group of state agencies, legislators, and organizations to look at the overall capital needs of the state and to identify strategies and other sources of finance to meet our needs more effectively. Representatives from the Vermont Economic Development Authority, the Vermont Student Assistance Corporation, Vermont Housing Finance Agency, the Vermont Bond Bank, the Vermont Banker’s Association were there. The group will be compiling information on where there are capital, investment, and finance needs that are unmet. If you have information – especially data and studies that include real numbers – about unmet needs you know about to share with the group, please send it along.
It was heartening to hear people at the meeting express their interest in looking at all the options and to learn more about how other states and governments structure things. Legislators spoke about their interest in a State Bank, and seemed genuinely interested in finding new solutions to our capital needs. The unmet needs included everything from financing for mobile home parks to questions about why the PACE energy program is still without the capital it needs to roll out to all the municipalities who have enacted PACE districts.
If you are interested in reading a short report that the public interest organization called Demos wrote about the potential impact of a Vermont State Bank, click here. Please feel free to share this report with your legislators.