Commercial Real Estate and Mortgage In Vermont

Vermont is one of the small New England states that is known for its beautiful scenery and its fantastic skiing. These two things alone explain why tourism is the number one industry in this state, but tourism is not the only successful industry using commercial real estate in Vermont.

The state of Vermont has a population of 623,908 spread out across over 9250 square miles. There are about 67 people living within each of those square miles. The population of Vermont has been rising slowly over the past two decades. Between 1990 and 2000 the population rose 8.2%, and since 2000 that rate has risen 2.3%. The per capita income of the residents of Vermont is $32,700.

Commercial real estate that is used for ski or vacation resorts or for businesses that support tourism such as hotels, restaurants, retail and entertainment is available. Because Vermont has both active summer and winter tourism, businesses that cater to the tourists are able to stay open year round. Tourism accounts for 27% of Vermont's gross state product, the highest in the nation.

Stowe is one of the top tourist attractions in the state. The resort has amazing foliage in the fall and great skiing in the winter. The combination brings in the tourists and commercial real estate in this area is at a premium with prices some of the highest in the state. The value of the commercial real estate in Stowe and other resorts in Vermont is on the rise.

Vermont's largest city is Burlington which is located below the state's northwest corner along the shores of Lake Champlain. It is home to several small industrial and service companies and the national headquarters of Ben and Jerry's ice cream. Commercial real estate is available in the city and its surrounding metropolitan area for further industrial and service companies.

Other successful industries occupying the commercial real estate in Vermont are durable goods, health care, retail, financial, professional services, technical services and insurance. Commercial real estate in the form of office buildings and warehouses are available for these ventures.

The main agricultural output of Vermont is dairy. Farming takes up 21% of the state's lands. The state is actively discouraging the sale of farmland to be turned into housing developments. Preservation is a high priority. A small, but growing alternative to the traditional farming in Vermont is grape growing for wine. In the past decade a half dozen wineries have opened up on former traditional farming properties, and the wine community in the state is growing.