This commentary is by Roxanne Vought, executive director of Vermont Businesses for Social Responsibility.
Every day more Vermonters are being vaccinated, modeling shows the rates of Covid-19 declining in the weeks to come, and warmer temperatures are starting to creep into the forecast. Hope is in the air, and we are on the cusp of moving past an interminable year toward recovery.
To enable that recovery, Vermont is poised to receive $2.7 billion in federal funding through the American Rescue Plan. It has been called a once-in-a-lifetime opportunity. It is imperative that we approach this opportunity thoughtfully and with firm goals to advance a just, thriving and transformative economy that works for all people and the planet.
Vermont Businesses for Social Responsibility is a nonprofit organization committed to leveraging the power of the business community for positive social and environmental impact. For over 30 years, we have worked to prioritize and highlight the triple bottom line: people, planet and prosperity for all. Our 650 business members recognize the opportunity and responsibility of the business community to protect not only the economic environment of our state, but the natural and human environments as well.
With the recovery from Covid-19 before us, we urge state leaders to view the opportunities ahead through this lens.
From supply chain disruptions to complete business closures, the public health and economic fallout of the Covid-19 pandemic has created a ripple effect throughout our economy, with impacts going far beyond brick-and-mortar storefronts and into every level of our communities.
Nowhere has this effect been felt more than in our marginalized communities. We’re coming out of a year of both hardship and a national reckoning about racial injustice, economic inequity, and the growing climate crisis. We must embed solutions to these challenges and keep equity and sustainability at the forefront in each and every one of our recovery policies.
Economic relief should also be channeled to the direct benefit of Vermonters via assistance with child care, food and housing. This is not only a moral imperative, but an economic one. Investments in Vermont’s vulnerable communities will strengthen our economy, bolster individual buying power, and help many of the state’s businesses overcome the challenges of operating in this pandemic.
Many of our locally owned businesses were hit incredibly hard over the last year. Many are still in dire need of financial assistance to survive. By aiding these businesses directly and investing in our local economies, we will ensure that Vermont businesses can continue to do their job: Generate vibrant communities, create fulfilling local jobs, and foster strong local economies.
The recovery from COVID-19, and the federal funds associated with it, do indeed present a once-in-a-lifetime opportunity. We can not only rebuild our economy, but build a stronger, more equitable and more resilient economy than ever before. Let’s do it.
