Current News

Vermont Business Magazine Senator Peter Welch (D-VT) and Senator Roger Marshall (R-KS) on Monday introduced the Heat pump Energy Assistance and Training (HEAT) Act, legislation to support the use of industrial heat pumps in rural areas. Industrial heat pumps can help farmers, ranchers, and other rural businesses save money on energy bills while reducing greenhouse gas emissions, but they are not widely used in the United States. The HEAT Act would create a program within the United States Department of Agriculture (USDA) to help deploy heat pumps in rural communities across the country, cut energy bills, and reduce greenhouse gas emissions.

Vermont Business Magazine LaunchVT, a division of the Lake Champlain Chamber, together with its partner, Rho Impact, a leading environmental, social, and governance (ESG) software and advisory firm headquartered in Charlottesville, VA, and Burlington, VT, provided foundational training in ESG strategy and materiality assessment to its current cohort of eight high-growth startups. The partnership was made possible by a grant provided by BTV Ignite, a local nonprofit organization that helps to launch entrepreneurs, grow businesses, and spur economic growth. In collaboration with LaunchVT leadership, Rho Impact designed a two-part, cutting-edge learning module delivered to startups in LaunchVT’s flagship accelerator program. Through tailored and co-branded content, LaunchVT’s members of the 2023 cohort benefitted from direct instruction from Noah Miller, co-Founder of Rho Impact and Chief Advisory Officer, and Gal Shargil-Yaari, Senior ESG Advisor.

Vermont Business Magazine Vermont Federal Credit Union has partnered with Spectrum Youth and Family Services to support its Empty Bowl Dinner and Sleep Out fundraising events. Vermont Federal Credit Union is now the presenting sponsor for both events. Spectrum Youth and Family Services is an incredibly important contributor to our community,” said Jean Giard, CEO at Vermont Federal Credit Union. “They play a vital role in the Burlington and St. Albans community by empowering and supporting our youth and young adults. We are delighted to support our community by partnering with Spectrum”.

Vermont Business Magazine NorthStar Group Services, Inc. (NorthStar) today announced an agreement to accept transfer of ownership of the 1600-acre GEH Vallecitos Nuclear Center, in Sunol, CA, from GE Hitachi Nuclear Energy (GEH) for nuclear decontamination, decommissioning, and environmental site restoration. The deal is anticipated to close following US Nuclear Regulatory Commission approvals—including license transfer from GEH to NorthStar—and satisfaction of all other closing conditions. NorthStar is currently decommissioning the former Vermont Yankee nuclear power station in Vernon.

Vermont Business Magazine The Vermont Senate today gave its preliminary approval to legislation that would update and substantially expand the scope of the state’s popular beverage redemption program, commonly known as the Bottle Bill. The vote in favor of H.158 was 19-11. The bill is expected to win final approval in the Senate tomorrow. The bill is intended to modernize a law that has been on the books for more than 50 years. A key feature of the bill is to expand the scope of the program beginning in 2027 to cover more beverages such as water, sports drinks, hard cider, and wine.

Vermont Business Magazine Rising hospital and pharmaceutical costs are causing an increase in premiums for Vermonters. For 2024, Blue Cross and Blue Shield of Vermont is proposing rate increases of 15.5% for individual health plans and 14.5% for the small group health plans. The primary driver behind these rates – 10.1% and 9.4% of the total – are attributed to hospital budgets and the higher prices for inpatient and outpatient services and pharmaceutical prices. Additional cost factors account for the remainder of the impact, including the cost of care for COVID-19, Blue Cross said in a statement today.

Vermont Business Magazine The Vermont Legislature today gave its final approval to H.165, the Universal School Meals bill, in a 122-25 vote — sending it to Governor Phil Scott’s desk for enactment. This is 22 more votes than needed to override a veto, should Governor Phil Scott choose to exercise such authority. Permanent Universal School Meals will ensure that all students in Vermont have continued access to healthy and nutritious meals while at school, regardless of their families’ income level. JFO estimates this bill will cost $29 million from the Education Fund in fiscal year 2024. Absent any other changes in policy, the base homestead yield and/or base non-homestead tax rate will need to be adjusted to account for the anticipated cost of this program. As passed by the Senate with proposal of amendment, the bill appropriates $29 million in fiscal year 2024 from the Education Fund to the Agency of Education for the funding of the universal meals supplement (the reimbursement amount paid to school districts by the State).

Vermont Business Magazine On May 9, 2023, the Vermont Warden Service responded to a report of two dogs running at large, one of which had been shot, in Fairfield. The investigation is ongoing. Game wardens located a dog suffering from a gunshot wound in the hind quarters, near Pond Road and Sheldon Woods Road. Wardens rushed the wounded dog to Burlington Emergency Veterinary Hospital for treatment and it is currently stable. The Vermont Warden Service is currently seeking to identify the owner or owners of both dogs. Neither dog was chipped or wearing tags. Both dogs are described as medium size golden dogs, possibly golden retriever mixes.

Vermont Business Magazine Senator Bernie Sanders (I-Vermont), chairman of the Senate Health, Education, Labor, and Pensions Committee, today led the committee in a hearing titled “The Need to Make Insulin Affordable for All Americans,” which heard testimony from the CEOs of major insulin manufacturers Eli Lilly and Company, Novo Nordisk, and Sanofi, and top executives from the major pharmacy benefit managers (PBMs) of CVS Health, Express Scripts, and OptumRX.

Vermont Business Magazine Representative Becca Balint (D-Vermont) introduced the Invasive Species Prevention and Forest Restoration Act on Wednesday. The bill would expand access to the US Department of Agriculture emergency funding to combat the threat of non-native species to our forests. “I, like so many Vermonters, am concerned about the future of our natural resources and ecosystems. To protect our forests and the health of native species, it’s clear we need to take federal action. I’m proud to partner with Senator Welch to preserve our environment in the face of invasive species,” said Balint.

by Mike Smith As I was leaving the Johnson campus last week, just a few days into my role as Interim President of Vermont State University, I passed a prospective student visiting with their parents. We chatted and they said that they were from Hardwick and remembered me as the Hardwick town manager some forty years ago. They told me they were glad to have the opportunity for their daughter to attend Vermont State University this fall and wished me well in my new role. There are few things more “Vermont” than the small-town connections we make, and the way our paths can cross over and over, no matter how long or short of a time that we have lived here. The gravity of this role struck me in that moment—and the tremendous opportunity we have to support students on their journey to build a strong future for themselves and their communities.

Vermont Business Magazine The following is a statement from Aly Richards, CEO of Let’s Grow Kids, in response to the news today that House and Senate leaders are at an impasse on the funding source for the 2023 child care bill, S.56, An act relating to child care and early childhood education: “A supermajority of lawmakers agree that child care is a top priority for this year. And for good reason. Our child care system is in full blown crisis. Over 100 programs could close in the next year if we do not act. We have a bill in the legislature right now that makes significant progress towards addressing the child care crisis. Lawmakers have done great work to get to this point and we thank them for that. Now, we need leaders to put differences aside and agree to a funding source, and fast. We are running out of time this session and our parents, businesses, early childhood educators, and our state’s economy literally cannot afford for lawmakers to fail now. It is simply not an acceptable outcome.