Current News

Vermont Business Magazine Champlain Housing Trust is redeveloping the site of the Veterans of Foreign Wars (VFW) building on South Winooski Avenue in downtown Burlington. The demolition of the current building, scheduled for June, makes way for 38 new permanently affordable apartments, with five set aside for unhoused Veterans. The redevelopment, done in partnership with Evernorth and with significant support from and coordination with the City of Burlington, will include a new home for the VFW Howard Plant Post 782, and a space to be leased to the City of Burlington’s Community Justice Center (CJC). The new CJC space is larger than their current location and will allow staff to better meet the needs of the community.

Vermont Business Magazine Roundup of news from April 2024: Scott names Zoie Saunders Interim Education Secretary after Senate votes her down; Tax revenues for March edge ahead of targets, if only just; Vermont’s unemployment rate falls one-tenth to 2.2 percent in March; Vermont Flannel owners acquire Vermont Teddy Bear; Goddard College to close after 86 years of progressive education; Eclipse traffic and economic impact boost tourism; Senators Richard Mazza, Bobby Starr and Dick McCormack to leave the Senate; LtGen John Broadmeadow ’83, USMC (Retired) named 25th president of Norwich University; and more.

Vermont Business Magazine The Vermont Historical Society will present a major exhibition of paintings, prints, and drawings titled “For the Love of Vermont: The Lyman Orton Collection.” It is a selection from the largest private collection of 20th century artwork by Vermont artists, collected over the past 45 years by Lyman Orton, best known as the proprietor of The Vermont Country Store. The artwork will be displayed at the Vermont History Museum at 109 State Street in Montpelier from July 3 through the end of this year, with a special pre-opening reception for Vermont Historical Society members on June 27.

Vermont Business Magazine The United States Attorney for the District of Vermont announced that yesterday, Deven Moffitt, 33, of Bennington, Vermont was convicted in U.S. District Court in Burlington of three drug and gun charges after a four-day jury trial. U.S. District Judge Christina Reiss ordered that Moffitt remain in jail pending sentencing, which has been scheduled for November 15, 2024. Moffitt has been held without bail since his arrest in June 2022. According to court records and evidence presented at trial, Moffitt was arrested by the Vermont State Police in Bennington on June 1, 2022. From a search of the bags Moffitt was carrying that day, law enforcement recovered over 3,500 individual bags containing fentanyl, additional bags of cocaine and cocaine base, as well as two firearms: a .22 High Standard Manufacturing Corporation revolver and a 9mm Hi-Point semi-automatic pistol. Both guns were loaded, and the 9mm pistol had a bullet in its chamber, with its safety off. Moffitt also possessed over $16,000 in cash upon his arrest. 

Vermont Business Magazine The Attorney General’s Office announced that Everett Kidder, 56, of Braintree, Vermont, was sentenced Friday in Vermont Superior Court, Lamoille Criminal Division, after pleading guilty to one felony count of Possession of Child Pornography (now known as Child Sexual Abuse Material). The Court, Judge Mary Morrissey presiding, sentenced the defendant by plea agreement to a sentence of one year in jail and a 10-year term of probation with conditions that Mr. Kidder complete sex offender treatment while incarcerated, have no contact with minors, and restrict his access to the internet.

Vermont Business Magazine Secretary of Administration Kristin Clouser released Vermont’s revenue results today for April 2024. The General Fund and Education Fund exceeded their monthly consensus cash flow targets, as the vital personal income tax finished over 25% ahead, corresponding to the annual fiscal 2024 consensus forecast update as adopted by the Emergency Board at its January 2024 meeting. The Transportation fund was slightly below its monthly target. All three funds remain ahead of the fiscal year-to-date consensus cash flow targets. The State’s General Fund, Transportation Fund, and Education Fund receipts were a combined $475.2 million, exceeding the $408.0 million monthly consensus target by $67.2 million, or 16.5%. Combined receipts are $2,811.0 million, which is $113.2 million above the updated $2,697.3 million target tied to the annual fiscal year 2024 consensus forecast adopted at the most recent Emergency Board meeting.

Public Assets Institute Vermont had 3,900 fewer jobs in 2023 than before the pandemic in 2019. But according to newly released data from the Vermont Department of Labor, the losses have not been evenly distributed. In fact, five Vermont counties showed net gains from 2019 to 2023, while the other nine saw net losses. Between 2022 and 2023, all Vermont counties saw job growth, ranging from 23 jobs in Essex County to 1,791 in Chittenden County. The state gained 5,500 jobs that year. The data also show that Essex County had the lowest average wage in 2023, at $47,479, and Chittenden County the highest, $70,269. The Vermont Department of Labor defines the average annual wage as total annual wages divided by average monthly jobs.

Vermont Business Magazine Stewart Ledbetter announced his candidacy today for the Democratic nomination for the Vermont State Senate, representing the Chittenden-Central District. His decision to run follows a long career in Vermont political journalism spanning six gubernatorial administrations. Ledbetter retired in February as a top-rated anchor at NBC5 in South Burlington and is the former moderator of ‘Vermont This Week’ on Vermont Public (PBS). He was inducted into the Vermont Broadcasters Hall of Fame in 2019. The district comprises most of Burlington, Winooski, Essex Junction and parts of Essex and Colchester. Ledbetter has resided in the district for more than 35 years.

by Timothy McQuiston, Vermont Business Magazine Global industrial computer hardware manufacturer and solution provider OnLogic on Monday opened a new 150,000-square-foot global headquarters in South Burlington. Senator Peter Welch and US Representative Becca Balint joined the OnLogic team, members of the business and tech community, and representatives from ReArch Company, Wiemann Lamphere Architects, and VHB for the grand opening ceremony. Located in Technology Park, the facility houses full business and production capabilities for the company, which was founded in 2003. Specializing in the design and manufacture of compact industrial computing solutions, OnLogic caters to a diverse clientele, spanning from burgeoning startups to global giants like NASA, Google, and Amazon.

by Burlington Mayor Emma Mulvaney-Stanak Yesterday marked the first 45 days of my mayoral administration. My team and I have been working diligently to balance the FY25 budget, and I’m proud to share that we have achieved that goal. On Tuesday, I was joined by CAO Katherine Schad at a press conference where we announced that we have identified cost savings and additional revenue that allows us to close the $13 million budget gap while also making strategic investments in community safety. I asked Department Heads to identify savings that could be achieved by leaving some positions vacant through FY25 that would not present major disruption to current City services. I have decided to proceed with this strategy for one year to give us more time to review our entire budget, assess programs for essential services, and properly evaluate the Operational Efficiency Study.  

by Timothy McQuiston, Vermont Business Magazine The Vermont Department of Labor reported today that the seasonally adjusted statewide unemployment rate for April was 2.1 percent. This reflects a decrease of one-tenth of one percentage point from the prior month’s revised estimate. The employment report was bolstered by an increase in the Labor Force and Total Employment, while Total Unemployment declined. The comparable United States rate in April was 3.9 percent, an increase of one-tenth of one percentage point from the revised March estimate. Vermont has the third lowest rate in the nation, one-tenth higher than North and South Dakota. California has the highest rate at 5.3 percent.

by Mike Donoghue, Vermont News First, Vermont Business Magazine The former chair and vice chair of the Woodstock Foundation want to add legal claims of unjust enrichment and a breach of fiduciary duty to their lawsuit against former trustees after learning one of the defendants was paid almost $1.5 million in recent years without full board approval, new court records maintain. Defendant Trustee John T. Hallowell received at least $1,472,951 pay from the Foundation plus substantial other benefits, including free luxury housing between 2018 and 2022, according to papers filed in Vermont Superior Court in Woodstock last week. Ellen R.C. Pomeroy, the former Foundation chair, and Salvatore Iannuzzi, the former vice chair, also want the defendant trustees to stop using Foundation funds to pay for their legal fees while fighting the current lawsuit.