Source: WCAX.com, December 10, 2010, by Andy Potter

“A new report paints a positive picture of Vermont’s economy. Several companies continue to add jobs and commercial real estate has relatively low vacancy rates.

Allen & Brooks puts out an annual survey this time of year. It keeps track of vacancy rates in several categories of real estate. Chittenden County, with relatively low vacancy rates and unemployment at just 4.4 percent, remains a good place to be — if you have a job. But the local economy has declined in terms of consumer purchases. The report says retail sales in Chittenden County peaked in 2006.

“People are just a lot more cautious,” Mark Brooks noted, but points out that the local economy has contracted. “We have definitely seen a decrease in market rents along Church Street,” Brooks said, referring to Burlington’s central business district.

The Real Estate Trends Survey is a clear indicator of how the economy is faring. Brooks told an auditorium full of business leaders that Chittenden County in general, and Burlington specifically, are doing better than most of the country. But the economic downturn continues even though the recession officially ended a year and a half ago.

Brian Pine, a housing specialist with Burlington’s Community and Economic Development Office (CEDO), told Channel 3, “We’ve definitely seen a decline in the occupancy rate for retail space, but there’s indications that some of those retail spaces have some very promising tenants that will likely be occupying them in the near future…”

Full Story: Burlington area does relatively well in spite of recession.

PDF of Story: Burlington Area Does Relatively Well in Spite of Recession.