Current News

Vermont Business Magazine Gravel & Shea has announced the closing of a $43 million land transaction between SP Land Company, LLC and a Toronto-based developer, Great Gulf. Great Gulf’s acquisition includes 1,095 acres of land, including the future home to the Six Peaks Village at Killington Resort. In March of 2023, Killington voters passed Article 5 on Vermont’s Town Meeting Day. The $47 million bond paved the way for a multi-phase infrastructure and development project including the introduction of municipal water and a redesigned & reconstructed Killington Road. The first residential offering will encompass more than 200 condominiums and townhomes, and extensive retail, restaurants, and amenities for year-round use at Killington Resort.

Climate Solutions Caucus Despite overwhelming Senate and House support and the addition of a “check-back” mechanism per his request, Governor Scott vetoed S.5, the Affordable Heat Act on Thursday. Recently, in just over a year, the price of fuel oil rose by $2 per gallon, and for the first time in Vermont's official tracking history, the thermal sector, which includes residential, commercial, and industrial fuel use, produced the highest amount of climate pollution of any sector tracked in Vermont’s official greenhouse gas inventory. The reality is: for both people and the planet, business as usual doesn’t work.

Vermont State Police Following next of kin notifications, the Vermont State Police is identifying the parties involved in the triple fatal car crash in Albany on Thursday afternoon as the following: June Cleveland of Albany, Linda Major of Albany and Jason Sanville of Albany were all killed; Cricket Santamore, the passenger in vehicle 2, survived and is at Dartmouth-Hitchcock Medical Center in stable condition. At this stage in the investigation, it appears seatbelts were worn. The circumstances of this crash are still under investigation; however, the primary cause is considered to be vehicle 1 leaving its lane and entering oncoming traffic.

The Vermont State Police has arrested a suspect following a shooting Thursday afternoon in Montgomery that left a man with serious injuries. Robert Morrell, 77, a resident of Highland Springs Road, was taken into custody on a charge of aggravated assault with a deadly weapon. He was ordered by the court to be released on a citation to appear for arraignment at 1 p.m. Friday, May 5, in the Criminal Division of Vermont Superior Court in St. Albans. The victim is identified as Kevin Temple, 54, who also lives on Highland Springs Road. Investigators have determined the shooting stemmed from an ongoing dispute about the maintenance of the private road where both men lived. During an argument Thursday afternoon, Morrell produced a .22-caliber revolver and shot the victim one time in the torso. Morrell remained at the scene and was taken into custody by police following investigation of the incident.

Vermont Business Magazine The M&T Charitable Foundation, the philanthropic arm of M&T Bank, today announced Amplify Fund grant recipients in Vermont, totaling $350,000 committed to four non-profit organizations focused on environmental justice. First announced in May 2022, the Amplify Fund is a $25 million philanthropic investment as part of the merger between People’s United Bank and M&T Bank. Powered by the M&T Charitable Foundation, the Amplify Fund is a one-time supplemental charitable program to provide further support in the legacy People's United communities throughout New England and New York, to benefit low- and moderate-income communities and underrepresented populations using a racial equity and justice lens.

Vermont Business Magazine Sugarbush Resort will reopen for skiing and riding this Friday, May 5th, Saturday, May 6th, and Sunday, May 7th. Available terrain is projected to include Stein’s Run and Coffee Run, with additional terrain assessed later this week. Conditions permitting, The Valley House Quad will run 10 AM – 5 PM on Friday and 9 AM – 5 PM on both Saturday and Sunday. Sugarbush is welcoming all passholders to enjoy the weekend, with all Sugarbush passes, including midweek passes and midweek Quad Packs, valid for the weekend.

Vermont Business Magazine Governor Phil Scott announced he had vetoed, as expected, S.5, the Affordable Heat Act bill. In a letter to the Legislature, he reiterated his ongoing concerns with the cost of the law to lower-income and rural Vermonters and his view that the language of the bill is complex and confusing. Meanwhile, he did sign into law two bills related to charter changes in Springfield and Barre. "As Governor, I believe we must make Vermont more affordable by helping Vermonters keep more of what they earn, while we simultaneously make transformative, strategic investments in important areas like community revitalization, climate action, housing, childcare, clean water, and broadband. I also believe government transparency is essential to maintaining faith and trust in our democracy. When we pass laws, we must clearly communicate both the burdens and the benefits to Vermonters. From my perspective, S.5 conflicts with these principles, and I cannot support it."

Vermont Business Magazine M&T Bank (NYSE:MTB) has announced the appointment of Heidi Stumpff as the new Regional President for Vermont. With 24 years in the banking industry, including the last decade at People’s United Bank, Stumpff brings a wealth of knowledge and leadership to the M&T Team. In this role, Stumpff will oversee all aspects of the bank’s operations in Vermont, including strategic planning, business development, commercial banking, community markets, and community engagement. Prior to assuming this role, Stumpff was Senior Vice President and Region Manager of Commercial Real Estate at M&T and People’s United Bank. She’s also served as Vice President of Commercial Lending at TD Bank and Wells Fargo.

Vermont Business Magazine Vermont Secretary of State Sarah Copeland Hanzas and Vermont Attorney General Charity Clark joined forces today to highlight their offices’ respective consumer protection work regarding residential contractors and unveiled a new consumer tool to help Vermonters protect themselves: an interactive map on the SOS’s webpage that will help consumers determine if a home contractor is registered and in good standing with the state. The General Assembly took action during their 2022 legislative session requiring the registration of residential contractors working in Vermont. This requirement applies to any residential contractor who performs construction where the estimated value is $10,000 or more, inclusive of labor and materials. Registered home contractors will also be required to maintain insurance and execute a written contract. The registration program is overseen by the Secretary’s Office of Professional Regulation.

Vermont Business Magazine Senator Bernie Sanders (I-Vermont), chairman of the Senate Health, Education, Labor, and Pensions Committee, and Senator Amy Klobuchar (D-MN) on Thursday introduced legislation to cut the price of prescription drugs under Medicare in half by requiring Medicare to pay no more for prescription drugs than the US Department of Veterans Affairs (VA). If this legislation were signed into law, Medicare would save an estimated $835 billion over the next decade. According to the CBO, on average, a 30-day prescription of a top-selling brand-name drug costs $190 under the VA but $343 under Medicare.

Vermont Business Magazine Average gasoline prices in Vermont today are $3.54 per gallon. This is one cent lower than last week, 16 cents/g higher than a month ago, and 74 cents/g lower than a year ago. The national average price of gasoline has fallen 7 cents per gallon in the last week, averaging $3.54/g today. The national average is up 4 cents per gallon from a month ago and stands 70 cents per gallon lower than a year ago. The national average price of diesel has fallen 5.3 cents in the last week and stands at $4.07 per gallon.