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Springfield's Economic Evolution: From Machine Tools to Tech-Based Businesses

2024-03-24 19:17:26.813000

Once known for its machine tool industry, Springfield's economy has undergone a significant evolution. With a workforce participation rate of approximately 57%, the town is primed for its next phase of growth. The Black River Innovation Campus (BRIC) is playing a crucial role in this evolution. BRIC provides office and co-working space, offers entrepreneur courses, and has plans to renovate a building into apartments. The campus believes that tech-based and tech-enabled businesses are a natural fit for Vermont. Supported by funding from the U.S. Economic Development Administration, BRIC is contributing to the town's economic revitalization. The Springfield Regional Chamber of Commerce is also working to modernize and update benefits for its members. However, Springfield still faces challenges, such as the need for more affordable housing and better access to state programs and resources. Despite these challenges, the town is already bouncing back and is poised for success in the coming years. [fad02e65]

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