Industry Update: January 13, 2023
Good Morning,
The top things you need to know are highlighted below:
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Help inform VTIR and the Vermont Chamber’s advocacy work by taking this micro-survey on the tipped wage in Vermont.
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The Vermont Tourism Marketing Program is a powerful partnership between the Vermont Chamber and VDTM aimed at driving visitors to your business via dynamic print and digital products. Contact Megan Bullard or Marc Plouffe to learn more.
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With another 26,000 jobs nationwide, December marked the 24th consecutive month of job growth in the restaurant industry. Read more.
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View the Department of Liquor and Lottery's On-Premise Sales Program for January and February.
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The latest Business Conditions survey conducted by our federal partner, the National Restaurant Association (NRA), shows that elevated costs continue to negatively impact restaurants. Read the release, see the full survey, and view the infographic.
Housing is the foundational challenge for Vermont right now. Read an op-ed we recently released with partners Vermont Professionals of Color Network and AARP Vermont on the critical need for a solution. The Chamber is collecting stories of businesses that have been impacted by the housing challenge. If you are an employer who has experienced this, please share your story.
Additionally, I wanted to share last week's episode of Brave Little State, which discusses the shortage of restaurant workers and the impact this is having on the industry.
Questions? Please do not hesitate to reach out.
Best,
Amy Spear
VTIR Director
Vermont Chamber VP of Tourism
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Elevate Your Business and Connect to Vermont Visitors
The Vermont Tourism Marketing Program is a powerful partnership between the Vermont Chamber of Commerce and the Vermont Department of Tourism and Marketing aimed at driving visitors to your business. The suite of products and services communicates your message via dynamic print and digital products, promoting your business to the 80 million people within a day’s drive of Vermont. Contact Megan Bullard or Marc Plouffe to learn more about the Vermont Tourism Marketing Program.
Groups and Motorcoaches
As the official domestic group tour marketer for Vermont, the Chamber will be attending the ABA Marketplace February 4-7, in-person in Detroit. This event will provide the best-qualified leads and appointments in the industry and a plethora of business education and making connection opportunities.
Do you want more group tours? Contact Marc Plouffe to learn more.
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The Vermont Chamber in Action |
Economic Conference
The Vermont Economic Conference is back in person for 2023 and will provide an essential economic foundation for the year ahead. The robust agenda features star speakers and seminars dedicated to providing an in-depth look at national, global, and state perspectives on the economy as well as the latest economic indicators for business growth. Register here.
Annual Vermont Business Economic Survey
Davis & Hodgdon Associates and the Vermont Chamber have launched our annual Vermont Business Economic Survey to understand the economic issues facing your business in 2023.
Impact of the Housing Crisis on Workforce Recruitment and Retention Survey
The Vermont Chamber is collecting stories of businesses that have lost employees or prospective employees because of housing. If you are an employer who has experienced this, please share your story.
State to Main
The Vermont Chamber of Commerce Advocacy Team is on the ground in Montpelier this legislative session to evaluate, monitor, and champion equitable policies that ensure the success of all Vermont businesses. With decades of experience, we have the knowledge and the relationships to make a real difference on the issues that matter most to you.
With the return to weekly editions of State to Main, each Friday you’ll have the most up-to-date information on the policy proposals legislators are talking about, how they will impact your business, what the Vermont Chamber is doing on your behalf, and how to engage on the issues that matter most to you. Read the latest edition of State to Main and stay in the loop by subscribing.
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Industry Insights & Resources |
Restaurants Added Jobs in 24 Consecutive Months
With another 26,000 jobs, December marked the 24th consecutive month of job growth in the restaurant industry. While the month-to-month gains have been uneven, the industry made steady progress in rebuilding its workforce adding nearly 2.2M jobs in two years. Read more.
Restaurant Operators End 2022 With Mixed Outlook
Our federal partner, the National Restaurant Association (NRA) released their latest Business Conditions survey, showing that food and labor costs each account for about 33 cents of every dollar in sales. Utilities, occupancy, supplies, general/administrative and repairs/maintenance combine to represent another 29% of sales. Read the release, see the full survey, and view the infographic.
FDA Updates the Food Code
The 2022 changes to the Food and Drug Administration Food Code deal with allergens, handwashing water temps, and pets on patios. Read more and register for the NRA’s upcoming webinar outlining new guidelines on Wednesday, January 25 at 2 pm.
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38th Vermont Tourism Summit
The Vermont Tourism Summit will be held April 26-27, 2023 at the Stoweflake Mountain Resort & Spa. Learn more and review the schedule of events. Attendee registration opens in January.
Community Recovery and Revitalization Program
Funding is intended for projects that make capital improvements or capital expansions that spur economic recovery and revitalization in communities across the state. The funding is also available for capital expenditures that support childcare and affordable housing opportunities for low- and moderate-income households, and to establish or improve municipal water and wastewater systems to build housing or create jobs through business creation and expansion. Learn more.
COVID Paid Leave Grant Program
The application window for this program is now open. Employers must demonstrate the dates each employee was out due to COVID, the total and hourly sick leave wages paid to each employee out due to COVID, and provide documentation to support that the leave was due to eligible COVID-related reasons. Learn more.
Short-Term Forgivable Loan Program
Is your business still feeling the financial impacts of the pandemic? Apply for VEDA's Short-Term Forgivable Loan program which will provide financial assistance to businesses that continue to experience current and ongoing harm due to the COVID-19 pandemic. Learn more.
First Generation Homebuyer Program
Vermont Housing Finance Agency launched this program with the goal of helping more Vermonters afford their first home. This program provides a grant to eligible homebuyers whose parents or legal guardians were likely unable to pass on the generational wealth homeownership can provide. Learn more.
Worker Relocation Incentive Program
The program has received a high volume of applications that total more than the amount of funding available. While applications continue to be processed in the order they are received, and the program will remain open and continue to accept applications until all available funding has been distributed, applicants should understand that funding is not guaranteed. Learn more.
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Vermont Chamber of Commerce
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