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Meet innovators, makers and recruiters at 10th Vermont Tech Jam Oct 21-22

Sat, 09/24/2016 - 1:18pm -- tim

Vermont Business Magazine The state’s top tech firms will be hiring at Seven Days’ Vermont Tech Jam, which takes place Friday and Saturday, October 21 and 22, 2016, at the Champlain Valley Expo in Essex Junction. Vermont’s fastest-growing and most-innovative companies will gather under one roof at this rockin' career and tech expo. Attendees can learn about exciting new Vermont-made apps, see drone and robotics demonstrations, find out about colleges and training programs, and meet reps from dozens of local companies in healthcare, aerospace, energy efficiency and IT that are hiring. 

Weekly unemployment claims edge down, stay low

Sat, 09/24/2016 - 11:31am -- tim

Vermont Business Magazine Weekly unemployment claims fell last week to hold at a seasonally low level last week. Overall, claims have been been static and are running slightly higher in 2016 than in 2015. For the week of September 17, 2016, there were 350 claims, down 29 from the previous week's total and 41 more than they were a year ago. By industry, claims were nearly unchanged from last week, as Services, the usual leader, led the way with 50 percent of all claims. 

UVM spinoff company honored as one of nation’s top start-ups

Sat, 09/24/2016 - 7:15am -- tim

Vermont Business Magazine GreenScale Technologies, of South Burlington, a research and development company with ties to UVM focused on the small satellite market, was honored Tuesday in Washington, DC, by the National Council of Entrepreneurial Tech Transfer as one of the nation’s top 36 university-spawned start-up companies. The company was selected for its miniaturized propulsion system for small satellites. The technology was created by GreenScale Technology’s co-founder and lead engineer, Ryan McDevitt, who earned a doctorate in mechanical engineering at UVM in 2014, in partnership with his former PhD advisor, Darren Hitt, a professor of Mechanical Engineering in the College of Engineering and Mathematical Sciences. GreenScale holds an option to license the technology from UVM. 

Larners make 'Second to None' UVM Medical School bequest of $66 million

Fri, 09/23/2016 - 5:07pm -- tim

by Timothy McQuiston Vermont Business Magazine To know University of Vermont President Tom Sullivan is to appreciate what a cool customer he is. But even he got emotional in announcing the university's largest ever gift and the largest single gift to any public university in New England. The gift is an estate commitment with an estimated current market value of $66 million from UVM dual-degree alum and Vermont native Robert Larner ’39, MD’42, and his wife, Helen. The commitment to donate caps decades of philanthropic support from the Larners, whose lifetime giving now will likely reach $100 million. Much of the money the Larners have donated has gone to low interest loans, grants and scholarships to provide financial aid to about a third of the 4,500 medical school graduates. Many of the current class of students attended the announcement under a big tent adjacent to the medical school in Burlington.

Housing Vermont gets $2 million for affordable housing

Fri, 09/23/2016 - 1:34pm -- tim

Vermont Business Magazine The Vermont congressional delegation announced Friday a $2 million grant to Housing Vermont to help provide affordable housing to low-income families in the state. Housing Vermont is a Burlington-based nonprofit founded in 1988, which creates permanently affordable rental housing and enables investments in economic and community development to benefit Vermonters through partnerships with local organizations, public agencies and the private sector. Housing Vermont has built 5,120 affordable apartments in 171 developments throughout the state.

Vermont AG joins antitrust lawsuit against maker of opioid addiction treatment drug Suboxone

Fri, 09/23/2016 - 1:20pm -- tim

Vermont Business Magazine Attorney General Bill Sorrell on Thursday joined 35 other state attorneys general in a lawsuit filed in federal court in the Eastern District of Pennsylvania against Indivior — the maker of Suboxone, a brand name prescription drug used to treat opioid addiction — and MonoSol Rx.The attorneys general alleged that the companies engaged in a scheme to block generic competition for Suboxone and have caused purchasers to pay artificially high prices since 2009, in violation of state and federal antitrust laws.

Leahy: Reform EB-5 or end it

Fri, 09/23/2016 - 10:06am -- tim

Vermont Business Magazine Senator Patrick Leahy (D-Vermont) and Senator Charles Grassley (R-Iowa) spoke back-to-back on the Senate Floor Thursday morning, as the EB-5 reform issue goes down to the wire.  The program’s authorization expires on September 30.  Some in Congress are pushing for a simple extension of the program. Leahy and Grassley are insisting on reforms, if the program is to go forward at all. Leahy originally had been a major supporter and architect of the foreign investor program going back to the 1990s.

GMCB agrees to 3.9 percent increase for Vermont hospitals

Thu, 09/22/2016 - 4:50pm -- tim

Vermont Business Magazine The GMCB announced their hospital budget decisions today for Vermont’s 14 community hospitals. The FY 2017 budgets are effective October 1. The Hospitals initially requested a 5 percent or roughly $114-million-dollar increase to health care costs within the state. After a thorough review, the Board approved a 3.9 percent Net Patient Revenue increase. The Board made reductions to budgets for volume overages and bad debt and free care estimates, and adjusted for the hospitals’ physician acquisition dollars.

Two NEK farms get USDA funding to expand value added products

Thu, 09/22/2016 - 3:10pm -- tim

Vermont Business Magazine US Department of Agriculture officials from across the country visited the Center for an Agricultural Economy in Hardwick Thursday to announce grant funding to two farms connected with the Center: Snug Valley Farm of Hardwick and Sweet Rowen Farmstead of Glover. Both farms received Value Added Producer Grants from the USDA to strengthen their businesses through product development, distribution and marketing. Snug Valley Farm will get nearly $200,000 and Sweet Rowen Farmstead will get nearly $50,000.

Vermont Tech celebrates 150th anniversary starting Sept 22

Thu, 09/22/2016 - 3:02pm -- tim

Vermont Business Magazine Vermont Technical College kicked off its sesquicentennial celebrations today with anniversary events throughout the state at its various campus locations. Alumni and community members will be welcome to attend receptions and events in Williston, Randolph Center, Bennington and Brattleboro. Founded in 1866 as the Randolph Normal School, it served the community in educating teachers. The Randolph Center hilltop school had previously been the Orange County Grammar School from 1806-1866.

UVM alumnus commits $1.75 million to Grossman School of Business

Thu, 09/22/2016 - 2:46pm -- tim

Vermont Business Magazine University of Vermont alumnus Stephen Ifshin ’58 has pledged $1.75 million to support a proposed expansion to Kalkin Hall, home of the Grossman School of Business on the UVM campus.  Ifshin’s commitment brings total support for the anticipated $11 million project to over $7 million. Stephen Ifshin is chairman of DLC Management Corp, which he founded with his son, Adam, in 1991. DLC Management Corp. is now one of the nation’s preeminent shopping center developers.