Gov. Shumlin Signs Economic Development Bill at Growing Vermont Business

Press Release

At Darn Tough Socks, which is expanding and adding 300 full-time positions in the next five years, Gov. Peter Shumlin today signed an economic development bill that will give a boost to Vermont's growing economy by increasing access to capital for startup business, expanding proven incentives to grow jobs, and encouraging job seekers to come to Vermont.

"Vermont is a great place to live, work, and raise a family," Gov. Shumlin said. "This legislation will help us build on the job growth we have seen in recent years, spur businesses to innovate the next big thing right here at home, train Vermonters for the jobs we have, and attract those from out of state to fill the jobs employers are continuing to create."

The Governor signed the bill one week after Vermont's unemployment rate dropped to 3.6 percent, the fourth lowest rate in America. According to the Department of Labor (DOL) data released last week, Vermont's low unemployment rate is matched by strong job growth. March saw stronger job growth than initially reported and initial data for April showed an increase of 1,800 jobs in the last month and an increase of over 7,000 jobs from a year ago. Since the Governor took office in January 2011, Vermont has added 16,800 jobs, according to DOL data.

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