Lt. Gov. Brian Dubie and Treasurer Jeb Spaulding Announce “Green Valley” Funding Initiative

first_imgLt. Governor Brian Dubie and State Treasurer Jeb Spauldingjointly announced a plan to invest $48 million in state employeepension funds in Vermont’s “Green Valley” – an economic development sectorcomprised of businesses dealing in environmental technologies, goods andservices.”It’s all about jobs and economic growth for our state in a dynamic newdirection,” Dubie said, “and it’s about devoting Vermont’s youthful energyand some of our resources towards making Earth a cleaner and healthier placefor everyone.”Spaulding noted that as State Treasurer, he is the custodian of Vermontstate employees’ pension funds. “Ever since I was elected,” he said, “I havelooked for ‘triple bottom line’ investment opportunities for our funds: onesthat are good for people and society, good for our environment and produce agood return on investment. Our investment board has made clear its desire touse 2% of our funds this way. When Lt. Governor Dubie proposed investing inVermont’s Green Valley companies, I was immediately excited.”Dubie, Spaulding and Economic Development Commissioner Mike Quinn have beenworking on a mechanism to distribute the funds, such as Vermont’s EconomicDevelopment Authority (VEDA). The final structure of that mechanism has yetto be determined.Dubie and Spaulding made the announcement at a forum on renewable energysponsored by the Vermont Environmental Consortium and Norwich University.”We have innovative people and companies right in our state developing cleantechnologies with the potential to provide these pension funds withpositive, long-term returns, and that can create jobs and economic growth inVermont for years to come,” Dubie said.”Everywhere on earth, from Shanghai to Montreal,” he continued, “demographictrends, public awareness, environmental crises and increased regulation aredriving the growth in the clean technology industry. I commend Treasurer JebSpaulding and look forward to working with him to harness that growth energyfor Vermonters.”last_img

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