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US Senate passes, president to sign, key housing reforms

Sat, 07/16/2016 - 6:16am -- tim

Vermont Business Magazine Before leaving for the summer recess, the US Senate Thursday night approved legislation championed by Vermont Senator Patrick Leahy (D) to make needed and long overdue reforms to several federal housing programs.  The Housing Opportunity Through Modernization Act now heads to the President’s desk to be signed into law.

Tax revenues fall short, but make up some ground

Fri, 07/15/2016 - 2:23pm -- tim

by Timothy McQuiston Vermont Business Magazine The Vermont 2016 fiscal year ended June 30 and the final tax revenue report finished with a small shortfall, as expected. Personal Income taxes, the most important single revenue source, has been lagging all year, but finished the month ahead of its target. For the month overall, preliminary results show that General Fund revenue finished FY2016 1.13 percent below the revenue targets adopted by the Emergency Board in January 2016 (which had been lowered from the original targets last July). The numbers for the year would have been worse if an electronic tax filing glitch had not been rectified. In all, the total shortfall was not as bad as anticipated.

Weekly unemployment claims fall, still high for summer

Fri, 07/15/2016 - 2:22pm -- tim

Vermont Business Magazine Weekly unemployment claims fell deeply last week but remain slightly above typical summer levels. Claims in 2016 generally have been running above 2015 claims. For the week of July 9, 2016, there were 540 claims, down 199 from the previous week's total and 44 more than they were a year ago. By industry, claims edged down across the board; Service, as is typical, carried the most claims. 

Norwich University seals historic exchange agreement with Korea University

Fri, 07/15/2016 - 1:57pm -- tim

Vermont Business Magazine Norwich University signed a new agreement with Korea University and the Republic of Korea’s Army Reserve Officers’ Training Corps Cadet Command, for the semester long exchange of cadets between the two universities. This is the first agreement of its kind between the ROTC programs of the Republic of Korea and a foreign nation; until a recent change, the law in Korea did not permit cadets to study abroad for an entire semester.

Transcanada dams purchase price now over $1 billion

Fri, 07/15/2016 - 1:02pm -- tim

by Guy Page, Vermont Energy Partnership The asking price for the 13 TransCanada hydro dams on the Connecticut and Deerfield Rivers has passed $1 billion, Vermont Secretary of Administration Justin Johnson said Tuesday, July 12. The dams, totaling about 560 megawatts of power, were bought by TransCanada in 2005 for about $500 million. The State of Vermont considered making an offer in 2005, but eventually declined.

Northern Community Investment Corp receives $605,000 in USDA funding

Fri, 07/15/2016 - 10:00am -- tim

Will help create opportunities for small and emerging businesses

Vermont Business Magazine The Northern Community Investment Corporation (NCIC) will strengthen its support of Vermont and New Hampshire’s small businesses thanks to a $605,000 funding package from the US Department of Agriculture. NCIC will use USDA Rural Development’s Rural Microentrepreneur Assistance Program to provide aspiring Northeast Kingdom and North Country businesses with financial support and technical assistance.

Public Service Department seeks input as it develops CPG complaint protocol

Fri, 07/15/2016 - 3:30am -- tim

Vermont Business Magazine The Department of Public Service is developing a new protocol for handling complaints about the potential failure of a company to comply with the terms and conditions of a certificate of public good (CPG) issued by the Public Service Board under 30 V.S.A. §§ 248 or 248a.  The Department will follow the protocol to keep a record of these complaints, research and investigate, track progress and respond.

Gifford begins construction on independent living apartments

Thu, 07/14/2016 - 11:47pm -- tim

Vermont Business Magazine Community members, early depositors, and Gifford staff and board members gathered on July 12 to celebrate groundbreaking for 49 independent living apartments at the Morgan Orchards Senior Living Community in Randolph Center. Planning for the multi-phased project, the largest building project in Gifford Hospital’s history, began in 2010. The apartments are scheduled to open in late July/early August, 2017.

Dunne proposes investment in affordable housing

Thu, 07/14/2016 - 10:33pm -- tim

Vermont Business Magazine Matt Dunne, Democratic candidate for Governor, today released his detailed plan for fighting poverty in Vermont, beginning with five actions that can be taken to immediately help the neediest Vermonters. Dunne unveiled his policy agenda during an event at the Vermont Foodbank, and was joined by longtime anti-poverty activist Chris Curtis, Sara Kobylenski from the Upper Valley Haven, former Department for Children and Families Commissioner Dave Yacovone and activist Dustin Tanner.

Vermont Leads settles campaign finance law violations for $3,000

Thu, 07/14/2016 - 10:22pm -- tim

Vermont Business Magazine A Vermont non-profit corporation formed in 2012 to provide public education about single-payer healthcare and its political committee have acknowledged violations arising out of their campaign activities in the 2012 and 2014 election cycles, according to Vermont Attorney General Bill Sorrell.