Are you and your company planning on doing business in the state of Vermont? If so, Your City Office has offices available all over Vermont. While Vermont may not be the first state that you think of as being rife with business opportunity, there are a number of reasons to do business in the state of Vermont, and the pleasant, down-home feel and beautiful rural landscapes make it an appealing place to spend your time.
Vermont, when it first became a state, was predominantly agricultural. Beef cattle, sheep and dairying were crucial to the state's economy. After World War II, agriculture became less dominant as tourism and manufacturing rose to the forefront. Durable goods, such as electronics parts and machine parts, became the backbone of the Vermont economy. Construction, wholesale and retail trade, and other service sector industries have shown the most growth in Vermont in recent years, as manufacturing has stagnated.
Vermont remained somewhat insulated against the national recession of 2001, however. The growth rate of its gross state product, which had accelerated from 5.1 percent in 1998 to 5.3 percent in 1999 and to 5.6 percent in 2000, actually improved further to 5.7 percent in 2001. The main negative effect of the recession was a shortfall in tax revenue resulting from the abrupt collapse of capital gains income. This caused a government budget crisis, but didn't impact the slow but steady growth of the state's economy. Payroll employment declined and bottomed out in 2002, but by the fall of that year the state registered gains in jobs. Per capita income grew in the first half of 2002, and Vermont's bankruptcy rate was the lowest in the entire region of New England.
In 2001, Vermont's gross state product was $19.1 billion. It is the second smallest state economically, after North Dakota. General services contributed $4.4 billion, financial services $3.5 billion, trade contributed $3.02 billion, manufacturing accounted for $2.99 billion, and government was $2.5 billion of the economy. Transportation and public utilities were $1.4 billion and construction was $868 million of the economy. The public sector was fully 13.3 percent of gross state product, compared to the 12 percent average of the rest of the states. It is a small economy, but there are still opportunities to do business in the state of Vermont.
Serviced Offices in Vermont
If you are going to be doing business in Vermont, Your City Office can provide you with serviced offices all over the state. Office space with full amenities is available in just about every part of the state. There are many to choose from.
For example, the Pine Haven Shores Road facility in Shelburne provides access to a friendly business community through all-inclusive executive office suites ranging in size from a tiny 150 square feet to 3,000 square feet. It is located within easy reach of highways, public transportation, and the airport, to make doing business even more convenient in Shelburne. The fully furnished office space offers virtual office facilities, breakout areas and meeting rooms. Additionally, full administrative support and reception are available. |
