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Vermont mayors support governor’s $35 million housing bond

Thu, 04/20/2017 - 4:55pm -- tim

Vermont Business Magazine The Vermont Mayors Coalition today announced "strong support" for Governor Phil Scott’s $35 million Housing Revenue Bond, which is currently under consideration by the Legislature. In a letter to the governor and legislative leaders, the Vermont Mayors Coalition urged lawmakers to take action on the Housing Revenue Bill during this session rather than in small increments, in order to make a substantive change to the state’s affordable housing stock while interest rates and construction costs remain low.

Merchants Bancshares reports Q1 results, to merge on May 12

Thu, 04/20/2017 - 4:49pm -- tim

Vermont Business Magazine In what will likely be its final quarterly report, Merchants Bancshares, Inc  (NASDAQ: MBVT), the parent company of Merchants Bank, today announced net income of $3.6 million and $0.52 per diluted share for the first quarter of 2017 compared to net income of $3.1 million or $0.45 per diluted share in the fourth quarter of 2016 and $3.5 million in net income or $0.50 per diluted share in the first quarter of 2016.

Governor, teachers union tussle over health insurance change

Thu, 04/20/2017 - 4:24pm -- tim

Vermont Business Magazine Governor Phil Scott's office and the teacher's union are exchanging heated words over how to hold down school spending by reducing health insurance costs. The governor wants the teachers to collectively negotiate with the state over health insurance plans, while the teachers union insists on maintaining that health plans be dealt with locally. Both sides agree that health insurance premium increases have been a major driver of school budget increases.

Burlington College Street Garage construction closures begin April 24

Thu, 04/20/2017 - 3:56pm -- tim

Vermont Business Magazine Starting on Monday, April 24, the College Street Garage will be closed as it undergoes necessary structural repairs. Work will begin under the management of Structure Preservation Systems, LLC. Over the next four months $2.1 million in repairs and improvements will be completed at the College Street Garage. The City of Burlington expects to preserve the garage to allow for at least 20 more years of use as a parking facility as a result of this investment.

Darn Tough Vermont first quarter revenue up 28 percent

Thu, 04/20/2017 - 3:32pm -- tim

Vermont Business Magazine Darn Tough Vermont, the fastest growing American manufacturer of premium performance outdoor and lifestyle socks, announced today that its multi-quarter growth run continues with first quarter revenue up 28 percent year-over-year. Company performance increased across all categories, the company said in a press release, indicating that the brand’s unconditional lifetime guarantee and Vermont, USA-based manufacturing continues to resonate with consumers demanding quality socks.

Rutland City Gateway Improvement Project set to begin construction

Thu, 04/20/2017 - 2:41pm -- tim

Vermont Business Magazine An initiative of the Rutland Redevelopment Authority (RRA) and the City of Rutland to improve aesthetics and safety along one of the key gateways into downtown is ready to commence. The Gateway Improvement Project construction contract has been awarded to Parker Excavation, of New Haven, VT.  Work is set to begin in mid-June and is expected to be completed by the end of August.

Governor: Proposal would save up to $26 million

Thu, 04/20/2017 - 1:26pm -- tim

Vermont Business Magazine Throughout the legislative session, Governor Phil Scott has repeatedly pointed to opportunities to save money in the Education Fund through the Vermont Education Health Initiative (VEHI). New VEHI health plans for school employees will cost substantially less than the old plans. The Governor has developed a policy proposal – through collaboration with the Vermont School Boards Association (VSBA) and the Vermont Superintendents Association (VSA) – that ensures up to $26 million in annual savings from these plans are returned to taxpayers or invested in other education priority areas and that teachers will not pay more for healthcare premiums.

TransCanada completes $1 billion+ sale of New England hydro assets

Thu, 04/20/2017 - 12:04pm -- tim

Vermont Business Magazine TransCanada Corporation (TSX: TRP) (NYSE: TRP) announced in a press release today that it has completed the sale of its hydroelectric generation assets to Great River Hydro, LLC, an affiliate of ArcLight Capital Partners, LLC for US $1.065 billion. The sale includes 13 hydroelectric facilities, stations and associated dams and reservoirs on the Connecticut and Deerfield Rivers. The assets are located in New Hampshire, Vermont and Massachusetts with a total generating capacity of 584 megawatts (Vermont Yankee's output was 605 MW). The bulk of this generation is on the Connecticut River.

Vermont schools lead on recycling, composting

Thu, 04/20/2017 - 12:03pm -- tim

Vermont Business Magazine Vermont’s K-12 schools are at the forefront of implementing the Universal Recycling law and using food education and local resources to cut down on food waste. They are successfully reducing waste, managing recyclable materials and creating food scrap diversion programs in exemplary form. “In their classrooms and cafeterias, Vermont’s youth are learning important hands-on lessons about how simple and routine it can be to reduce waste, rescue food, recycle materials, and compost.

Fourteen supervisory unions, districts awarded flexible pathways expansion grants

Thu, 04/20/2017 - 11:23am -- tim

Vermont Business Magazine The Agency of Education today awarded Flexible Pathways Expansion Grants to 13 supervisory unions and school districts through Vermont. These awards will be used to support 14 projects to expand SUs/SDs’ capacity to provide meaningful, personalized learning opportunities and better clarify flexible pathways for students in Vermont. These grants represent the continued effort to support schools and communities in their efforts to implement the Flexible Pathways Initiative – Act 77.

Berkshire Bank Foundation invests over $300,000 in community initiatives

Thu, 04/20/2017 - 11:18am -- tim

Vermont Business Magazine Berkshire Bank Foundation is excited to announce that it has awarded $314,901 in grants and pledges to 88 nonprofit organizations through their 3 main grant programs, which focus on community and economic development, education and basic needs. The funding was awarded during the first quarter grants cycle. In 2017, Berkshire Bank Foundation implemented refined priorities focusing on specific outcomes.

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