Boston Fed advisory council member Chu focuses on revitalizing Vermont’s economy Boston Fed advisory council member Chu focuses on revitalizing Vermont’s economy

‘Vermont needs more people, and more people need Vermont’ ‘Vermont needs more people, and more people need Vermont’

May 14, 2025

Kevin Chu is the executive director of the Vermont Futures Project, an independent organization that supports Vermont’s economy. He is also a member of the New England Community Development Advisory Council at the Federal Reserve Bank of Boston. The CDAC informs Boston Fed leaders about New England's community development activities and barriers to economic growth. It also advises Reserve Bank staff on ways the Bank can support regional community development efforts.

What is the Vermont Futures Project, and how are you looking to address Vermont’s economic challenges?

The Futures Project started about a decade ago. Our work tries to answer the mission question, “How can we use data to support the evolution of Vermont's economy towards a thriving future, full of opportunity for all?”

Our latest initiative was the launch of an economic action plan which puts together recommendations towards goals for workforce and housing development, two of Vermont’s biggest economic challenges. We’re trying to use data to establish what those goals can be. Then, we want to empower communities to leverage that data and our recommendations to act in ways that highlight their unique strengths and assets and use them to contribute to the goals.

What makes Vermont’s economy unique?

Vermont is a leader, both domestically and internationally, in climate and green technology and resilience in adapting to climate change.

We’re also one of the oldest states by median age, but we’re all part of an aging nation. Vermont is stepping up to address the problems that poses now. I see Vermont as a leading indicator for what the rest of the country could experience in terms of the economic impacts of an aging population. I believe that Vermont can be a leader for what to do and demonstrate the best practices.

We’re working to draw more people, to get younger as a state, and we can show other places how to do that right. Vermont needs more people, and more people need Vermont.

You played soccer and participated in track and field at Middlebury College. How did those experiences help shape you personally and professionally?

In soccer, I played center back on defense, and within a 90-minute match, I probably had the ball at my feet maybe 2% of the time. To be successful as a center back, I was constantly scanning the field, and most of my actions were dictated by everything else that was happening away from the ball. I had to understand the big picture, rather than just focus on where the ball is. I now apply that in my work. It's not just about the latest headline, but how does what’s happening fit into an ecosystem of a rapidly evolving world and a dynamic environment?

I also ran hurdles. And to have success in hurdles, I almost had to override some of those human instincts and think of hurdles as targets, not barriers. That's how I approach my professional work, as well. These challenges that we face in Vermont aren't things that we need to shy away from. They're not barriers. They’re the next opportunity to move forward.

When you're going full speed and there's a 42-inch hurdle in front of you, I had to be fully present and, at that moment, dedicate myself to the target. And that's sort of how I approach my work. I go all in.

Where does your passion to give back to the community come from?

I grew up as the son of immigrant parents. Back in 1986, my parents had one social connection to the entire country, who happened to live in Vermont. Neither of my parents spoke English or had college degrees. They took this brave leap of faith to leave behind everything they knew and build a new life in Vermont. And I feel so blessed that they were able to find the economic opportunities that they did, they were able to realize their American dream. And now I want to provide those opportunities and more to others.

Why did you decide to join the CDAC?

It comes back to this idea of personal development and curiosity. I’ve been doing a lot of work through the Futures Project in the Vermont ecosystem. But Vermont's economy doesn't end at its borders. And being able to participate in a regional group has really helped me expand my own thinking and learn from others. I can see the interconnectedness of decisions being made at a hyper-local level, and how they ripple out into the regional, national, and even international ecosystem.

I'm trying to bring the voices of Vermonters that I interact with every day to these regional discussions and to share ideas that perhaps might help people elsewhere. I think that the exchange of ideas is not only healthy, but necessary.

 

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