Current News

Vermont Business Magazine State Treasurer Mike Pieciak will participate in a community discussion with Rep. Mike Rice tomorrow, Thursday, July 27 2023, at the Long Trail School in Dorset, VT. Treasurer Pieciak will be discussing his office’s new public retirement program, VT Saves, which passed unanimously through the legislature this past session. He will also provide an update on his office’s efforts to assist the recovery response to this summer’s flooding. The event is open to the public, and constituents will have the opportunity to ask questions. 

Vermont Business Magazine Citizens is releasing its quarterly business conditions index today. The latest data shows that Vermont businesses are faring well, and the data also shows that the Fed’s moves are working against inflation. The Fed raised rates another quarter point (25 basis points) on Wednesday. Citizens Bank has branches across Vermont. Rapid interest rate increases to curb inflation continue to weigh on economic conditions. A rise in unemployment insurance claims and a slowdown in small business formation caused the Index to dip to 48.5 in the second quarter. While the labor market has started to show some softening in the face of aggressive Federal Reserve rate hikes and the manufacturing sector slowed given high inventory levels and a shift in consumption towards services.

Vermont Business Magazine Norwich University announced today that six of its professors were awarded research awards from the Vermont Biomedical Research Network (VBRN). The funding supports biomedical research at Norwich University from June of 2023 through May of 2024. The combined value of the VBRN funding for 2023-2024 at Norwich is $300,000. Included in this year’s list of VBRN awardees are three professors who each received the $25,000 Pilot Award and three professors who received the prestigious $75,000 Project Award to fund their research.

Vermont Business Magazine Average gasoline prices in Vermont are $3.66 per gallon, up 8 cents per gallon from last week's $3.58/g. Prices are up 7 cents/g from last month and down 84 cents from last year. The national average price of gasoline has risen 8 cents per gallon in the last week, averaging $3.67/g today. The US average gas prices has surpassed the Vermont average. The lowest price in the state is $3.40/g in Middlebury while the highest was $3.97/g in Stowe.

Vermont Business Magazine The Vermont Fish and Wildlife Department reminds hunters that muzzleloader season antlerless deer permit applications are available on its website until Wednesday, August 2. The muzzleloader seasons on October 26-29 and December 2-10 will have antlerless permits available for 19 of Vermont’s 21 Wildlife Management Units. 

Vermont Business Magazine Senator Peter Welch (D-VT) joined the Senate Judiciary Committee’s Subcommittee on Intellectual Property Wednesday to address Big Pharma’s abuse of the patent system.  The hearing included testimony from the Honorable Katherine Vidal, Undersecretary of Commerce for Intellectual Property and Director of the U.S. Patent and Trademark Office  The hearing addressed patent thickets, which are dense webs of overlapping patents granted to pharmaceutical companies that expand a drug’s patent protection, allowing pharmaceutical companies to keep generics out of the market—extending a market monopoly and driving up drug costs for everyday Americans.   

Vermont Business Magazine The Vermont State Police is investigating the death of a man who had been jailed at Northwest State Correctional Facility in St Albans. The man, a 37-year-old resident of Vermont, became unresponsive in the shower area at the facility at about 6:35 pm Wednesday, July 26, 2023. Corrections staff provided emergency medical care and called first responders to the prison. Lifesaving efforts were unsuccessful, and the inmate was pronounced dead at Northwest State at 7:22 pm Wednesday. 

Vermont Business Magazine As the Senate prepares to vote on the National Defense Authorization Act, Senator Bernie Sanders (I-Vermont) On Wednesday delivered remarks on the floor of the Senate explaining why he will be voting ‘no’ on the $886 billion defense budget. "M. President, the Senate is now debating an $886 billion defense authorization bill. Unless there are major changes to this bill, I intend to vote against it. Let me explain why. As everyone knows, our country faces enormous crises."

VermontBiz Following the flooding event from July 7-12, 2023 (#VTFlood23), President Biden approved Governor Phil Scott’s request for a major disaster declaration for Vermont to assist individuals, businesses, and communities recover. The declaration covers Caledonia, Chittenden, Lamoille, Orange, Orleans, Rutland, Washington, Windham, and Winsor Counties. The counties of Addison, Bennington, Franklin, Grand Isle, and Orleans are eligible for certain limited assistance. Evaluations by FEMA and other federal and state officials continue and other areas may be added to the declaration. Also, the declaration dates remain open-ended in case further weather events occur.  

Vermont Business Magazine Orleans County has been added by FEMA to the federal Individual Assistance Disaster Declaration signed by President Joseph Biden earlier this month. The declaration now allows residents of Orleans County to apply for federal assistance for personal losses during this month’s storm and floods. Caledonia, Chittenden, Lamoille, Orange, Rutland, Washington, Windham, and Windsor counties were previously approved.

by Secretary of State Sarah Copeland Hanzas Vermonters have always rallied to protect and care for our friends and neighbors in a crisis. I am grateful for Governor Scott’s calm and measured response when Vermont is in crisis. During the COVID-19 pandemic, Governor Scott followed the science and took the appropriate steps, despite considerable opposition, to keep Vermonters safe and to prevent a greater tragedy. Now, we need the same courage and focus as we grapple with flood recovery and take action to address the underlying forces of climate change that drove its severity. 

by John McClaughry July has been a banner month for climate crisis headlines. Washington Post: “The world is hotter than it’s been in thousands of years.” AP: “For the third time this week, Earth sets unofficial heat record.” Politico: “Scientists are freaking out about surging temperatures.” As anyone in the media business knows, headlines are apt to be more sensational than the reporters’ actual stories. The two climate scientists quoted in the Politico story, for example, offer accurate descriptions of meteorological events, but neither is close to “freaking out.”