by Anne Galloway and Hilary Niles vtdigger.org A group of immigrant EB-5 investors are incensed that Bill Stenger, president and CEO of Jay Peak Resort, seized ownership of the Tram Haus Lodge and turned their half-million dollar equity stakes in the property into IOUs. Investors had no knowledge of Stenger’s actions until five months after they were executed.
Senators Patrick Leahy (D-Vermont), Bernie Sanders (I-Vermont) and Representative Peter Welch (D-Vermont) Friday announced the Rutland Southern-Vermont Regional Airport in North Clarendon, Vermont, received a $8,127,261 grant from the US Department of Transportation to make safety improvements to the airport.
PC Construction, based in South Burlington, has been awarded a $61.2 million contract to build and modernize facilities at Bath Iron Works in Maine. The expansion at the historic shipyard on the banks of the Kennebec River marks the third major contract with General Dynamics Bath Iron Works for PC Construction, which also has offices in Portland, ME. The project includes the construction of an outfitting hall measuring 311 feet long, 165 feet wide, and 110 feet high; a state-of-the-art blast and paint facility; and a new boiler building designed to increase energy efficiency.
by John Herrick vtdigger.org The Vermont Public Service Board late Friday ordered Vermont Gas to halt construction of its natural gas pipeline extension along certain sections of the proposed route until the company submits a soil management plan.
Vermont Business Magazine New unemployment claims in Vermont fell again to near their lowest point in recent memory. In early June, claims fell to 400, as filings have spiked and then fallen for most of the year.
Senator Patrick Leahy (D-Vermont) Friday announced Vermont will receive $6.8 million in federal grants from the US Department of Homeland Security (DHS), up from $6.3 million last year. The grants – under a formula championed by Leahy that protects smaller states like Vermont – will help Vermont develop prevention and preparedness programs to respond to and recover from acts of terrorism and other catastrophic events.
by Katie Jickling vtdigger.org A legislative committee Thursday approved funding to hire 37 staff members to help implement a massive technological overhaul for the Agency of Health and Human Services. The Joint Fiscal Committee voted 7-2 to allocate up to $600,000 for 37 short-term employees who will help oversee the development of the Integrated Eligibility project, one part of the long-term Health and Human Services Enterprise technology project.
FairPoint Communications, Inc (Nasdaq: FRP), a leading provider of advanced communications in northern New England, has upgraded high-speed Internet service to 100 homes and businesses in Stockbridge. FairPoint’s new fiber-based, high-capacity network offers customers a better, faster way to communicate.
Vermont Business Magazine State economists presented a more somber report on projected tax revenues forecasts for the state of Vermont on Thursday and projected that revenues will be 1.8 percent lower going forward than anticipated last January for the fiscal 2015 (current) and 2016 years.
Standing a block from Main Street in Barre, Governor Peter Shumlin today announced two grants that will allow the City of Barre to address flood risks, clean up environmental contamination and redevelop a central part of its downtown known as Enterprise Aly. Long slated for improvements in Barre’s master plan, the area was flooded in the spring of 2011 when the Stevens Branch overflowed its banks during heavy storms. Flood waters damaged the area -- the site of environmental contamination – and flowed into the back of Main Street businesses, threatening the spread of hazardous materials.
by Anne Galloway vtdigger.org Scott Milne, the Vermont GOP-endorsed gubernatorial candidate, formally launched his campaign Wednesday in Barre with a one-two punch aimed at Governor Peter Shumlin. Milne promised not to vilify the governor’s character, and then promptly walked into a backhanded attack on Shumlin’s governing strategy. “Bullying tactics are not respected where I come from,” he said. “Leadership is defined by trust, not brazen displays of power.”
by Timothy McQuiston Vermont Business Magazine Governor Peter Shumlin and Administration Secretary Jeb Spaulding said Thursday that Vermont continues to recover from the deepest recession since the Great Depression and that the current state budget will need to be cut $31 million in order make up for lagging tax revenues. In Fiscal Year 2013, Vermont’s General Fund receipts were up $91 million over the previous year. This past fiscal year saw continued growth, with receipts $46.6 million higher than 2013.