Vermont Business Magazine Mayor Miro Weinberger and Burlington Electric Department General Manager Neale Lunderville today promoted the benefits of zero-emissions battery electric buses (E-buses) for the City of Burlington during an event that began at Burlington Electric and continued with a ride through the City on an E-bus that is in town for a two-week pilot program with Green Mountain Transit (GMT). The 40-foot transit bus being tested would reduce GMT’s reliance on fossil fuels and avoid greenhouse gas emissions.
Vermont Business Magazine VHV Company, based in Winooski, announced today the establishment of an Employee Stock Ownership Plan (ESOP), which effectively transfers ownership of the company to all employees. David Brown, President of VHV Company, sold his ownership interest to the newly created Employee Stock Ownership Trust, allowing employees to gain the benefit of ownership without any personal investment.
Vermont Business Magazine On Monday, April 17, the Vermont Housing Finance Agency (VHFA) Board of Commissioners committed federal Low-Income Housing Tax Credits (LIHTC) and Vermont Affordable Housing Credits that will provide almost $37 million in upfront equity to construct and renovate housing for low-income Vermonters over the next several years. The $2.5 million in ten-year federal capped credits, $610,000 in ten-year federal uncapped "bond" credits and $485,000 in five-year state credits will support the development of 272 affordable apartments in 11 communities across the state. VHFA permanent and construction financing totaling $7.2 million was also approved for 5 of the projects.
Vermont Business Magazine Governor Phil Scott today commemorated his first 100 days as Vermont’s 82nd Governor, thanking his staff and detailing priorities for the coming months. In a press release issued Tuesday, he shared his thoughts and outlined his administrations accomplishments through the first three months since he took office. The governor reiterated that he is committed to growing the economy, making Vermont more affordable, and protecting the most vulnerable, while focusing on initiatives that will help address those three core challenges.
Vermont Business Magazine Burlington Mayor Miro Weinberger released the following statement regarding a Special Election for the Ward 7 City Council seat: “On Saturday, April 8, 2017, City Councilor Tom Ayres submitted a letter of resignation to the City effective June 26, 2017 at the conclusion of the City Council meeting that evening. Councilor Ayres has taken a job as the new Executive Director of Chandler Center for the Arts in Randolph, Vermont.
Vermont Business Magazine Don Sinex, managing member of Devonwood Investors LLC and BTC Mall Associates LLC, the owner and developer of the Burlington Town Center, issued the following statement regarding the zoning permit appeal filed by a group of opponents attempting to block redevelopment of the Burlington Town Center: The opponents have filed various challenges along the way and have focused their appeals on the 14-story height of some of the new complex as out-of-scale to the rest of Burlington. The project recently received private financing and has been approved by local zoning officials and by voters in March. This new appeal has gone to the Vermont Superior Court Environmental Division.
Vermont Business Magazinie Vermont once again has one of the highest business tax burdens in the nation, according to new analysis by Anderson Economic Group (personal income taxes are due today, Tuesday April 18). The study, which ranks states based on the portion of business income that goes toward taxes, found that 12.6 percent of Vermont businesses profits go toward taxes, placing the state at 48th out of 51 states including the District of Columbia. The study also ranks states on 11 different types of business taxes and shows that Vermont has one of the highest business property and unemployment compensation tax burdens nationwide.
Vermont Business Magazine The Vermont Association of Snow Travelers (VAST), a 501(c) (3) organization, is launching a $3 million capital campaign for the continued redevelopment Lamoille Valley Rail Trail (LVRT). When completed, the trail, extending 93 miles from St. Johnsbury to Swanton, will be the longest rail trail in New England. As a year-round recreational corridor, it serves walkers and runners, bicyclists, snowmobilers, horseback riders, cross country skiers and mushers. VAST Executive Director Cindy Locke believes that the trail is going to be the top four-season recreation destination in Vermont when it is completed. In addition to its recreational amenities, LVRT will be a powerful economic engine for the 18 towns along its route.
Vermont Business Magazine Grace Cottage Family Health of Townshend, VT, has received Level 3 Patient-Centered Medical Home (PCMH) recognition from the National Committee for Quality Assurance (NCQA). This certifies that Grace Cottage’s Rural Health Clinic has achieved the highest level of evidence-based, patient-centered, coordinated care. The NCQA PCMH model of primary care combines teamwork and information technology to improve access, communication and patient involvement, and to reduce costs.
Vermont Business Magazine Nokian Tyres and POWDR Adventure Lifestyle Co. today announced a two-year partnership making Nokian Tyres the official tire partner for POWDR’s nine North American resorts. Nokian's North American headquarters are in Colchester, Vermont. “Since our first winter tire rolled off the line in 1934, Nokian Tyres has focused on producing tires capable of performing safely in the most demanding conditions, especially the snow and ice of northern climates,” said Hans Dyhrman, director of marketing, Nokian Tyres North America.
Vermont Business Magazine The discovery of a protein signature that is highly predictive of leukemia could lead to novel treatments of the leading childhood cancer, according to new study showing that competition among certain proteins causes an imbalance that leads to leukemia. The new study in the journal Nature Immunology reveals that the activation of a protein known as STAT5 causes competition among other proteins that leads to acute lymphoblastic leukemia (ALL).
Vermont Business Magazine Vermont Teddy Bear is proud to announce their newest Bear to the Bears That Care program: Limb Loss & Limb Difference Bears. Working closely with the Amputee Coalition, Vermont Teddy Bear has created this collection of Bears to help those with limb loss and limb difference. “We are really proud of the whole Bears That Care program, and are very excited about this Bear and our partnership with the Amputee Coalition,” says Bill Shouldice, CEO of Vermont Teddy Bear Company.