Peter Shumlin in 2012 Governor's State of the State speeches


On Corporations: Getting credit to entrepreneurs when they need it grows jobs

A year ago at this podium, [after Tropical Storm Irene], I pledged the following: My jobs agenda will expand the ability of emerging entrepreneurs and businesses to get access to capital when they need it most.

Partnering with the Vermont Economic Development Authority, we created an emergency low interest loan program that got credit of up to $100,000 to crippled job creators within days. More than 340 businesses and farms were granted loans, totaling $15.3 million. With liquidity, Vermont ingenuity and hard work, miracle after miracle happened as business after business reopened.

The lesson for Vermont government in helping to grow jobs in Vermont is simple: Getting credit to entrepreneurs when they need it most grows prosperity and grows jobs. In fact, there is nothing standing in the way of Vermont's job creators that cannot be made right by a partnership with state government and expedited risk credit for businesses when others won't lend.

Source: Vermont 2012 State of the State Address Jan 5, 2012

On Jobs: Vermont unemployment rate, 5.3%, is among lowest in America

To those who say that Vermont is a bad place to do business, that our bold policies for job growth aren't getting results, that our optimism about Vermont's jobs future is not matched by progress, I ask you to consider these facts: our unemployment rate at the peak of the recession was 7.3%; today it is among the lowest in America at 5.3%. Over the past year, new jobs in Vermont grew by 62% over the prior year, more than any other state in the nation. Vermont ranked second in a recent study of how well states use tax breaks and economic development subsidies to actually create jobs.

If you don't believe the data, I invite you to join me on the road, reaching out to Vermont's job creators. My administration and I commit ourselves every day to attracting entrepreneurs and growing jobs, one job at a time, as we slowly but surely grow our way out of the most painful recession in our nation's history.

Source: Vermont 2012 State of the State Address Jan 5, 2012

On Local Issues: Tropical Storm Irene recovery: we rebuilt faster & smarter

The magnitude of devastation from Tropical Storm Irene astounded me. [The recovery effort was a] public/private partnership; with winter looming, we did it right, with Vermont ingenuity, fiscal prudence, and common sense. We rebuilt, for 35 cents on the dollar, bringing total estimated damage down to $250 million for state roads and infrastructure.

There are two Irene lessons that we must seize from our experience. The first lesson is clear: if after Irene we can rebuild over 500 miles of damaged road & 34 bridges in four months for a fraction of normal cost, we must apply those lessons to maintaining and rebuilding Vermont's aging transportation infrastructure from this point forward. We will build faster, smarter, and more economically.

The second lesson comes from the remarkable tenacity of the hundreds of small businesses that were drowned in water and mud. I pledge the following: My jobs agenda will expand the ability of businesses to get access to capital when they need it most.

Source: Vermont 2012 State of the State Address Jan 5, 2012

The above quotations are from 2012 Governor's State of the State speeches.
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Page last updated: Aug 10, 2019