Hey, here’s some good news. One of Vermont’s more problematic job-creation programs is getting a policy review.
Unfortunately, that’s where the good news ends.
The program is the Vermont Employment Growth Initiative, or VEGI for short. It provides incentives to employers who grow jobs in Vermont. The most frequent VEGI beneficiary is Keurig Green Mountain, which has raised eyebrows in some quarters, (“Fascinating,” I have found myself saying with left brow cocked, “but highly illogical.”) That’s because KGM’s rapid growth was fueled, not by the state’s generosity, but by its then patent-protected K-Cup brewing system.
Since its patents expired, it has struggled to maintain market share, bungled two key product rollouts, and — VEGI grants or no VEGI grants — laid off hundreds of Vermonters.
So yeah, I’m all for a review of this program. Unfortunately, this is a fox/henhouse situation. The people doing the review are members of the Vermont Economic Progress Council, the panel that awards the VEGI grants in the first place.
Uh-huh, they’re reviewing their own work.
That ought to go well.
But wait, there’s more!