Richmond, Vermont: Human Capital

Richmond, Vermont’s residents are a large asset for the community. These residents create a diverse array of human capital, and positive and negative effects can create ripple effects throughout the area. Green and Haines define human capital as, “general education background, labor market experience, artistic development and appreciation, health and other skills.” (2016, p.136). However, this asset needs existing organizations, businesses, and services to help maintain, educate, and create resilience for future generations.

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Vermont is a predominately aging state. An age distribution on Richmond’s “Our Town, Our Future” data page on their website says, “the number of children and young adults is shrinking.” This loss of young and educated residents is creating a brain drain on its human capital. A 2013 report on “Workforce Employment Status” on Richmond’s data page on the “Our Town, Our Future” website also says 2449 residents are employed while 128 are unemployed. The site also has data on “Transportation and Commuting, 2013 Est.” which reports, “18.2% work in town of residence” and “15% commute more than 35 minutes.” Between brain drain of residents and the need to commute outside of Richmond for work, luckily there are nearby organizations to help increase human capital.

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Lund is based out of Burlington, Vermont, which is 20 minutes away. The organization provides a variety of services including education, substance abuse programs that include residential and outpatient treatment, and family support services. They also have the “Reach Up” program that “helps families with children by providing services that support work, cash assistance for basic necessities, and health insurance.” (Lund, 2016). Lund is an outlet that can benefit Richmond’s residents by assisting in workforce development and providing mental health services. With their services residents in need can improve their human capital, which will in whole leave the town of Richmond better off in the future.

Sources:

Green, G.P. & Haines, Foster (2016). Asset Building & Community Development. Thousand Oaks, CA: Sage Publications, Inc.

Lund. (2016). Reach Up & Job Training. Retrieved from http://www.lundvt.org

Richmond: Our Town, Our Future. (2015). Richmond Data. Retrieved from http://richmondvtfuture.weebly.com/richmond-data.html