City of Burlington issues new economic development report

first_imgThe City of Burlington announced today the release of Jobs and People IV, a comprehensive analysis of the Burlington area economy and strategic plan for maintaining and enhancing the city s economic vitality. Jobs and People IV is a timely analysis for Burlington to maintain and enhance its economic vitality, said Mayor Kiss. Following Burlington s recognition by Kiplinger s as one of the nation s top ten cities for the next decade, we should look to build on our success and address our challenges. Jobs and People IV provides a roadmap for promoting sustainable economic growth now and into the future.Jobs and People IV updates the economic and demographic data on Burlington s local and regional economy presented in Jobs and People III (published in July 1994).Jobs & People IV: ¢ presents and analyzes current levels and changes in the economic performance and structure of the regional economy (Chittenden County) of which the Burlington economy is a part; ¢ looks more closely at the economic and demographic condition of local Burlington residents and how well they are being served by the local and regional economy; and ¢ reviews current economic development programs in Burlington and recommends next steps that respond to changes in the local and regional economy, take ¢ advantage of emerging opportunities, and reduce the risks faced by the Burlington and surrounding economy.Jobs & People IV closely examines the regional economy in which Burlington is embedded. Since Burlington residents shop and work outside of Burlington, and residents from outside Burlington work and shop in the City, it is essential that we understand the regional economy before we look more closely at the part of that larger economy that is situated within the City limits. The report also looks at the different industrial sectors that provide jobs, the quality of these jobs by sector, and the growth or decline in different sources of employment over the last two to three decades.An analysis of the demographic characteristics of Burlington residents, the earnings of its businesses and the incomes of its residents, where residents are employed (sectors), the quality of the jobs they hold, and the prospects for growth or decline in different sources of employment is included.The Report examines data from the last 20-30 years and proposes broad strategies to create and retain high quality jobs, prepare members of the labor force for work and better jobs, and proactively bring qualified workers and appropriate employment opportunities together.Finally, Jobs & People IV presents lessons drawn from the analysis of the regional and Burlington economies, and links these lessons to Burlington s past, current and proposed economic development policies and programs. The goal is to provide a broad strategic framework to help guide policy and program decisions in the future.Also included in Jobs & People IV are two supplements: ¢ 2008 Chittenden County Business Survey ¢ A summary of the 2009 Burlington Economic SummitSource: CEDO. June 14, 2010last_img

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