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Tax revenues rebound in November

Thu, 12/07/2017 - 4:32pm -- tim

Vermont Business Magazine Personal income tax revenues, the most important General Revenue source, rebounded in November to push them up over 24 percent for the month (+$10.08 million) and ahead for the year. November marks the fifth month of fiscal year 2018. General Fund revenues collected for the month of November totaled $104.58 million, $8.30 million above the consensus cash flow expectation for the month. The November monthly consensus cash flow target reflects where General Fund receipts overall should be through the month, given the consensus revenue forecast for fiscal year 2018, adopted by the Emergency Board on July 21, 2017, according to Secretary of Administration Susanne Young.

NH to opt out of FirstNet plan, pursue alternative

Thu, 12/07/2017 - 2:18pm -- tim

Vermont Business Magazine Governor Chris Sununu announced today that New Hampshire will opt out of the FirstNet plan presented by AT&T, and will instead pursue a contract with Rivada Networks, LLC for the provision of an alternative plan for the build out of a high speed wireless broadband network for New Hampshire's first responders. Vermont Governor Phil Scott announced last week that Vermont would opt-in to the FirstNet/AT&T plan. New Hampshire is the first state to opt-out of what is intended to be a nationwide safety plan.

NEFCU 'Blankets of Hope' drive enters 19th year

Thu, 12/07/2017 - 12:21pm -- tim

Vermont Business Magazine In 1998, to provide area community organizations with blankets to help Vermonters in need, New England Federal Credit Union (NEFCU) conducted its first Blankets of Hopeä  Drive. Now in its 19th year, the NEFCU Blankets of Hopeä  drive has collected and distributed thousands of blankets to organizations including the Committee on Temporary Shelter (COTS), Spectrum Youth & Family Services, Samaritan House, and others.

PAI: Cuts loom without additional revenue

Thu, 12/07/2017 - 12:04pm -- tim

Public Assets Institute This is the 11th year in a row that Montpelier has projected spending obligations will exceed state revenue projections going into the start of the legislative session. Maybe it’s time to acknowledge that the state’s revenue system isn’t keeping up with even modest budget growth. Projected General Fund revenue for next year is $1,591 million. That’s about $34 million more than Vermont had available to pay for base appropriations for this year ($1,557 million). If this revenue growth were distributed evenly, there would be enough for an increase of just over 2 percent across state government.

AG concerned about 'fake comments' to FCC on net neutrality

Thu, 12/07/2017 - 11:58am -- tim

Vermont Business Magazine Attorney General TJ Donovan raised concerns over the FCC for allowing “fake comments” to be posted on its public comment pages related to proposed rules that would roll-back net neutrality rules. “Net neutrality should be protected and preserved. Fake comments undermine the integrity of the entire process.” said Donovan. In July, the Vermont AG submitted comments to the FCC supporting an open internet.

Stowe owner Vail Resorts reports fiscal 2018 Q1 results

Thu, 12/07/2017 - 11:54am -- tim

Vermont Business Magazine Vail Resorts, Inc (NYSE: MTN) today reported results for the first quarter of fiscal 2018 ended October 31, 2017, and provided season pass sales results and certain early ski season indicators. Vail has seen immediate positive impact from its recent acquistions of Stowe Mountain Resort in Vermont and Canada's Whistler Blackcomb, the largest ski resort in North America. While early season results have been mixed across the Vail network, Whistler Blackcomb and Stowe have had a strong start to the season with early snow and cold temperatures conducive to snowmaking. Colorado and Utah have been challenged with limited early season terrain.

Governor cuts his own at Barton tree farm

Thu, 12/07/2017 - 11:24am -- tim

Vermont Business Magazine Governor Phil Scott and Agriculture Secretary Anson Tebbetts visited the Vermont Christmas Tree Farm in Barton Wednesday to highlight the importance of these businesses to the rural Vermont landscape and economy. After touring the farm with owners Bill and Sue Tester, Governor Scott cut three trees, two for his offices in Montpelier and one to bring home. The Testers also provided tips on the best method for cutting and transporting the trees back to his Pavilion office.

Don't despair, get to work, says former EPA chief Gina McCarthy

Thu, 12/07/2017 - 6:51am -- tim

Vermont Business Magazine The US Environmental Protection Agency's efforts to preserve air and water quality “are really, at this point, in jeopardy,” said Gina McCarthy, who headed the agency under President Barack Obama and spoke Friday afternoon at the University of Vermont. “It is very, very difficult today not to get a little bit down.” Still, everyone must stop worrying, buck up and move forward, she told those who attended the speech, sponsored by UVM’s Rubenstein School of Environment and Natural Resources. That’s what her father would have demanded, McCarthy said.

Vermont gets over $200,000 to help protect wetlands

Thu, 12/07/2017 - 5:35am -- tim

Vermont Business Magazine EPA has awarded $1,345,000 million in grants to strengthen the capacity of the states to protect and restore wetlands. The Wetland Program Development Grants provide interstate agencies, tribes, and nonprofit organizations with funding to develop and refine comprehensive state and local wetlands programs.  Supplemental funding for these projects will be awarded in FY18 but the amounts will be budget dependent.

Burlington 2030 District created to address climate change

Thu, 12/07/2017 - 4:10am -- tim
Vermont Business Magazine Leading Burlington businesses and institutions have committed over 3.6 million square feet to participate in the Burlington 2030 District, a private-public partnership working to reduce building energy consumption, water use and transportation emissions 50% by 2030. By establishing the economic case for the necessary reductions, the District helps property owners increase asset value, reduce operating costs, and create a healthier community.