(HOST) Times of trouble sometimes call for grand initiatives. Commentator Rich Nadworny has an idea of how we can jump start our Vermont economy by harnessing one of our natural resources.
(NADWORNY) The last time we switched Governors in Vermont we all heard the slogans "jobs, jobs, jobs." You’d think that this time around, what with the recession and all, we’d hear a lot more of it.
To his credit, the outgoing governor is rounding out his term with a foreign junket to peddle green cards in the hope that the buyers will invest in Vermont businesses. For my own part, I hope they’re willing to invest in some less glamorous businesses than ski resorts.
The jobs issue is no joke to Vermonters, though. On a recent trip to the Upper Valley area, I asked a number of people who they planned to vote for. Nobody, they proclaimed. All anyone is talking about is broadband, they said, and we’re more interested in how they’re going to grow jobs in Vermont, than being connected to Facebook.
There are a number of ideas about job creation floating around the campaign. Clustering, or focusing on a specific industry, seems to be popular, especially in the green energy field. But how on earth is Vermont going to authentically support this sector when we can’t even agree to put up wind turbines in our own state? Tax cuts are another buzz phrase politicians never seem to tire of. But we’ve had a ton of tax cuts over the last ten years and look where that’s gotten us.
Vermont is a state full of small businesses and entrepreneurs. This is what drives our, and the nation’s, economy. We also have a track record of developing fun, quirky and socially responsible brands that can compete nationally. It seems to me that we should be doing everything we can to grow more of these businesses.
Just recently, a national beer distributor bought one of those businesses, Magic Hat Brewing. And while I’m a little sad to see one of my favorite brands get snapped up like that, I think it opens up a huge opportunity for Vermont. Here’s what I’m thinking:
Whoever wins the gubernatorial election, whether he be named Dubie or Shumlin, the next governor should announce a new jobs plan by naming Magic Hat founder Alan Newman as Vermont’s Grand Innovator.
Alan Newman is a serial entrepreneur. Beside starting Magic Hat, Newman has also helped start two of Vermont’s other great brands: Seventh Generation and Gardener’s Supply Company.
I imagine the Grand Innovator roaming Vermont, identifying economic opportunities and coming up with unexpected business ideas in every corner of the state. State government would support this effort with the resources of the Agency of Commerce, and develop strong relationships with local Venture Capital firms, like Fresh Tracks Capital, to help incubate these new businesses and then let local people run them.
Imagine our state economy fueled by local start-ups that could develop into mini Magic Hats or Seventh Gens. It may sound like a crazy idea, but I don’t think it sounds any crazier than flying around the world promoting green cards.
(TAG) For more commentaries by Rich Nadworny, go to VPR-dot-net.