Current News

Vermont Business Magazine The Royal Group Inc, based in Rutland, has been selected as The Gold Partner of the Year at the 18th annual Axis Connect & Converge Conference (ACCC) 2023 in Kansas City, MO. Axis Communications, the market leader in network video, presented this annual award to the top channel, software and technology partner in the Northeast. The Royal Group Inc was recognized for their innovative solutions and dedication to meeting their clients’ needs. 

Vermont Business Magazine A multi-institutional team of researchers led by the White River Junction (Vermont) VA, and including the West Haven and Palo Alto VA, analyzed electronic health record data from more than 5.9 million Veterans - spanning both pre-pandemic and pandemic periods - to discover nuanced insights from COVID-19’s impact on mortality rates. In comparing excess mortality rates in vulnerable populations, researchers found that patients with dementia showed the highest relative rates of mortality, but the highest number of deaths were in those who had diabetes. Again, this is because there are a large number of people who have diabetes. In contrast, patients with metastatic cancer showed no excess mortality during the initial pandemic years, possibly due to protective measures taken by this group.

Vermont Business Magazine The Vermont Department of Economic Development (DED) announced today that the Business Emergency Gap Assistance Program (BEGAP) application portal will close on Monday, October 23rd. Businesses who have yet to apply or are still completing their application will need to do so by October 23rd. “This $20 million grant program has been a tremendous help to our flood damaged businesses, landlords, nonprofits, and farms,” said Joan Goldstein, Commissioner of the Vermont Department of Economic Development. “Many business owners have told us they would not have been able to reopen without these funds.  We are grateful to Governor Scott and the Emergency Board for reallocating state funds to deliver immediate support to our employers, employees, and communities in the wake of the July floods.”

Vermont Business Magazine The Agency of Natural Resources Department of Environmental Conservation (DEC) announced today that Ascutney Fire District #2 (Fire District), the owner and operator of a public water system in Weathersfield, was fined $4,000 for violations of the Vermont Water Supply Rule (VWSR) and has been directed to bring the water system into compliance. Many Vermonters use public community water systems for safe, reliable drinking water. These systems range in size from small condominium associations to large cities. Owners of public community water systems are responsible for managing and maintaining the systems in accordance with the VWSR. Among many other requirements, owners are required to have a certified operator who is responsible and available at all times, and who must perform routine sampling and monitoring for water quality.

Vermont Business Magazine The State of Vermont has renewed funding for the First Generation Homebuyer Program. Originally released as a pilot program in 2022, the program is now widely available and offers eligible homebuyers a $15,000 grant to help with down payment and closing costs. Interested homebuyers can now apply through any local VHFA participating lender (bank, credit union, or mortgage company). The program has helped 54 first-generation homebuyers purchase their first home in Vermont so far. 

Vermont Business Magazine The Vermont Department of Labor has announced the determination of the 2024 Unemployment Insurance (UI) Taxable Wage Base. Effective January 1, 2024, the Taxable Wage base will increase from its current level of $13,500 to $14,300. An increase of $800. Employers pay unemployment contributions based on initial wages earned annually by each of their employees up to a certain amount. This is known as the Taxable Wage Base. Under the new Taxable Wage Base, employers will pay UI contributions on the first $14,300 an employee earns in calendar year 2024. 

Vermont Business Magazine Vermont Electric Power Company (VELCO), a Rutland-based provider of electricity transmission services in Vermont, has announced the advancement of two highly experienced professionals to key leadership positions. Tom Dunn, President and CEO of VELCO, today unveiled the elections of Mike Fiske as Chief Operating Officer (COO) and Brian Connaughton as Vice President of Transmission Services and Asset Maintenance. Their elections were unanimously approved by the company’s Board of Directors on October 12, 2023.

Vermont Council on Rural Development We’re excited to announce that Charlie Smith joined our team on October 2nd as the interim Executive Director. In recent years, Charlie has provided transitional leadership to many Vermont non-profit organizations including the ECHO Leahy Center for Lake Champlain, the Flynn Center for the Performing Arts, the Vermont Energy Investment Corporation, and Vermont PBS to name a few. Prior to that, he served as Secretary of Human Services and Secretary of Administration for Governor Jim Douglas and was the Vermont President for KeyBank.

Vermont Business Magazine The University of Vermont Medical Center’s Thrombosis and Hemostasis Program will celebrate 20 years of lifesaving care this World Thrombosis Awareness Day on October 13. The program, housed within the Hematology Oncology Division, is one of the nation's largest. It has consistently offered specialized care while growing from humble origins to a team comprising seven physicians, two advanced practice providers, and two dedicated nurses. Now, each year, the program extends its expertise to over 1,200 new patients. As the program marks this significant milestone, it will also engage in awareness-building for venous thromboembolism (VTE) – a condition that encompasses deep vein thrombosis and pulmonary embolus. VTE is the third leading cardiovascular disease, with nearly 1 million events that cause 60-100,000 deaths annually in the US.

Vermont Business Magazine M&T Bank (NYSE:MTB) approved more US Small Business Administration (SBA) loans in the past year than ever before and finished the SBA's 2023 fiscal year as the sixth-largest lender in the country. This marked the 15th consecutive year M&T has ranked among the nation's top 10 SBA lenders. M&T has branches across Vermont. M&T approved 1,822 SBA 7(a) loans for a total of $224.2 million in fiscal 2023, which ended Sept. 30. That represents a 26.5% increase in SBA loans the bank approved in 2022 and a nearly $21 million increase over last year. This year's loan volume also eclipsed the previous high mark of 1,739 SBA loans M&T approved in 2016.

Vermont Business Magazine The Robert Frost Stone House Museum at Bennington College, located in Shaftsbury, VT, has received a total of $24,250 in grants from the Vermont Arts Council and the Vermont Agency of Commerce and Community Development’s Historic Preservation Barn Grant program. Both grants will help restore the property’s distinctive New England barns and make greater use of these spaces for programs and events. The Historic Preservation Barn Grant of $5,500, which must be matched by the College, will be used to replace the metal roof on the largest of the property’s outbuildings. With the roof repaired, the museum will expand the use of the barn for readings, concerts, art installations, workshops, and their annual Holiday Makers’ Market.

Vermont Business Magazine ATTOM, a leading curator of land, property, and real estate data, released its Q3 2023 US Foreclosure Market Report, which shows there were a total of 124,539 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 28 percent from the previous quarter and 34 percent from a year ago. The report also shows there were a total of 37,679 U.S. properties with foreclosure filings in September 2023, up 11 percent from the previous month and up 18 percent from September 2022. Vermont had by far the lowest rate at one in every 17,554 housing units. The US average was one in 1,121 and the highest rate (New Jersey) was one in 595.