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Vermont gets $10 million TIGER grant to extend Amtrak service to Burlington

Fri, 05/06/2016 - 2:02pm -- tim

Vermont Business Magazine US Transportation Secretary Anthony Foxx and Federal Railroad Administrator Sarah E Feinberg joined Vermont Governor Peter Shumlin, US Senator Patrick Leahy and US Congressman Peter Welch at an event today to announce that the US Department of Transportation will provide $10 million to extend Amtrak’s Ethan Allen Express passenger train service all the way to Burlington. Currently, the service begins in New York City and stops in Rutland.

Vermont Community Loan Fund gets $500,000 loan/grant from USDA to help microentrepreneurs

Fri, 05/06/2016 - 12:51pm -- tim

Vermont Business Magazine The Vermont Community Loan Fund will strengthen its support of Vermont’s small and micro businesses thanks to a $500,000 loan and grant combination from the US Department of Agriculture. VCLF will use USDA Rural Development’s Rural Microentrepreneur Assistance Program to provide aspiring small businesses with loans and technical assistance. The deadline for applicants is June 30.

Weekly unemployment claims more than cut in half

Fri, 05/06/2016 - 12:29pm -- tim

Vermont Business Magazine After a precipitous spike the previous week, unemployment claims fell by more than a 1,000 last week to return to numbers similar to a year ago. Claims had been on the rise since the end of what economists called a "disastrous" winter tourism season, which was plagued by too little snow and too much rain. For the week of April 30, 2016, there were 523 claims, down 645 from the previous week's total and 8 more than they were a year ago. By industry, claims fell across the board, except for Trade.

Vermont again 49th on 'Rich States Poor States' ranking

Fri, 05/06/2016 - 11:01am -- tim

Vermont Business Magazine Vermont once again finished 49th on "2016 Rich States, Poor States" national ranking. New York was 50th. Vermont and New York consistently have competed for the bottom two spots over the years. Utah earned the top spot for states with the best economic outlook, followed by North Carolina, North Dakota and Wyoming, according to the newest edition of the ranking recently released by the American Legislative Exchange Council (ALEC). 

Gallup study shows strong alumni outcomes for Saint Michael’s

Fri, 05/06/2016 - 6:59am -- tim

Vermont Business Magazine Results from a recent study of Saint Michael's College alumni show that they exceed their peers from other institutions in nearly all elements of well-being and workplace engagement. Saint Michael's College President John J Neuhauser said the results of the study, initiated by the College to learn how the institution might improve outcomes, are evidence of the lasting influence of the quality education and unique community experience provided at Saint Michael’s.

Bloomberg Names UVM's Grossman School one of best undergraduate business schools of 2016

Fri, 05/06/2016 - 5:54am -- tim

Vermont Business Magazine The University of Vermont’s Grossman School of Business added another top ranking to its growing number of accolades by making Bloomberg Business’ coveted “Best Undergraduate Business Schools 2016” list. The ranking, based on survey data from nearly 30,000 students and recruiters at 600 companies, places UVM among the top 114 undergraduate business schools in the country at No. 107 out of more than 1,400 accredited business schools in the country.

Water testing near Essex and Winooski sites test clean for PFOA

Thu, 05/05/2016 - 3:55pm -- tim

Vermont Business Magazine Governor Peter Shumlin released today preliminary test results from private water supplies surrounding two former wire-coating facilities in Essex and Winooski.  All samples showed no presence of the potentially harmful chemicals PFOA and PFOS. The two sites are former locations of local wire coating and cable extrusion companies Belden Wire & Cable (Essex) and Super-Temp Wire and Cable (Winooski).

Personal income tax revenues down almost $17 million in April

Thu, 05/05/2016 - 2:41pm -- tim

by Timothy McQuiston Vermont Business Magazine Personal Income tax revenues tanked in April, which led to total tax revenues falling more than $14 million below targets for the fiscal year, which ends June 30. Personal Income is the single most important revenue source for the State of Vermont. Consumption taxes also were down, but only slightly. A strong performance by the Corporate Tax was far too small to offset the plunge in PI.

REV: Customers support solar power in Vermont at PSB hearing

Thu, 05/05/2016 - 2:05pm -- tim

by Renewable Energy Vermont The Public Service Board (PSB) held its final public hearings on the proposed net metering rule on Thursday morning in Montpelier. Prior to Thursday's hearing, dozens of solar customers and workers gathered on the statehouse lawn to urge the Board to draft a rule that maintains a strong net metering program which allows homes, businesses, farms, and non-profits to continue to harness the power of their own energy. 

Bancroft: Divestment violates Vermont’s fiduciary responsibility to pensioners

Thu, 05/05/2016 - 1:27pm -- tim

by Robert Bancroft, State Representative, Westford & Rural Essex, Chittenden 8-3 District As an economist by training, I understand that the investment decision making practices that regulate state pension funds have grown more complex over the years. However, Governor Shumlin is asking the state pension fund to break with long-standing policy to pursue an investment strategy that is wholly inconsistent with the stated fiduciary responsibility of the VPIC.

Cathedral Square begins construction on energy-efficient housing for seniors in Milton

Thu, 05/05/2016 - 1:17pm -- tim

Vermont Business Magazine State and local officials, and leaders from finance and nonprofit housing organizations, marked the construction start of an innovative, affordable housing community for seniors at a groundbreaking ceremony on May 2. Elm Place is located at 60 Bombardier Road in Milton and will be Vermont’s first multi-family building certified to Passive House standards. The super energy-efficient building will use roughly 65 percent less energy than those built to today’s standard codes. This efficiency is achieved through better windows and doors, added insulation, and improved air sealing.

Sanders announces $5.5 million in health center funds for Vermont

Thu, 05/05/2016 - 1:06pm -- tim

Vermont Business Magazine US Senator Bernie Sanders (I-Vermont) announced Wednesday that the Department of Health and Human Services awarded $5.5 million to six community health centers in Vermont. The health centers will use this new federal funding to renovate facilities, increase patient capacity and expand primary care services. The Vermont awards are part of $260 million in health infrastructure funding announced today for 290 community health centers in 45 states, the District of Columbia and Puerto Rico.