Current News

Vermont Business Magazine BHAKTA Spirits, the world’s preeminent House of Vintages, today announces the limited release of its next BHAKTA 50 (1868–1970), Barrel 23: “Morgan.” All previous BHAKTA 50 barrel releases have sold out. Named for famed financier John Pierpont “J.P.” Morgan — the father of modern banking whose gold standard inspired the House of Vintages’ opulent style and uncompromising commitment to collector-grade quality — BHAKTA 50 Barrel 23: “Morgan” (SRP $450) is a blend of eight landmark Armagnac vintages: 1868, 1893, 1929, 1941, 1955, 1963, 1965, and 1970.

Vermont Business Magazine Girls on the Run Vermont needs coaches! Girls on the Run is a physical activity-based, positive youth development program that inspires students in 3rd through 8th grade to be joyful, healthy, and confident. The ten-week program incorporates movement to empower participants to develop critical life skills, build confidence, cultivate positive connections with peers, manage their emotions, and stand up for themselves and others. Volunteer coaches utilize a curriculum to engage teams of girls in fun, interactive lessons. The spring season begins the week of March 27. Teams meet twice a week for 90 minutes and the program culminates with all teams participating in one of two noncompetitive, celebratory 5K events in Essex and Manchester, VT.

Vermont Business Magazine Governor Phil Scott today delivered his seventh budget address to the General Assembly, taking advantage of historic surpluses to make strategic investments in areas that produce the greatest return – all without raising taxes. The total budget is a record $8.4 billion. As he did in his Inaugural Address, Scott again emphasized the need to focus on regional economic equity and investing in areas of our state that have been left behind. The governor continues to make historic investments in shared priorities like childcare, housing, education, economic development, community infrastructure and more. His proposed budget uses sizeable state surpluses and revenue growth to make significant investments that will put Vermont in stronger fiscal position, make progress on longstanding challenges, and lift up families and communities across state.

Vermont Business Magazine In response to Governor Scott’s $8.4 billion 2024 Budget Address, which he delivered today at the State House, several advocates and elected officials weighed in, some in favor, some opposed, some with mixed feelings.

Vermont Business Magazine This morning Senate President Pro Tempore Philip Baruth and Speaker of the House Jill Krowinski issued the following statement: “We are deeply concerned about the Administration’s stated intention to move Medicare-eligible state retirees from the State of Vermont’s insurance plan into Medicare Advantage plans without the support of state retirees. We are particularly concerned about the potential legal, financial and health implications and believe this shift undermines collective bargaining rights."

by Timothy McQuiston, Vermont Business Magazine Secretary of Administration Kristin Clouser released Vermont’s revenue results for December 2022, which again showed strength in the vital personal income tax. For the third month in a row, all three major funds - the General Fund, the Transportation Fund and the Education Fund - ended with revenue above target. Year to date, the General Fund and the Education Fund remain ahead of target while the Transportation Fund is slightly behind. Tax revenue collections for the state’s General Fund, Transportation Fund, and Education Fund receipts in December were a combined $266.2 million, or 5.3%, above monthly consensus expectations. For the first six months of the state’s fiscal year, combined revenues across all three funds were 6.3% above combined consensus target.

Vermont Business Magazine Vershire residents will soon be able to enjoy an outdoor pavilion thoughtfully incorporated into the already established public facilities and grounds of Vershire’s Town Center thanks to a crowdfunding campaign recently launched on January 19th. The campaign is sponsored by the Vermont Department of Housing and Community Development’s Better Places program and led by the Town of Vershire and the Vershire Town Center Committee, with collaborative partnerships with VerShare, Vershire Recreation Committee, and TimberHomes Vermont. If the campaign reaches its $20,000 goal by March 20th the “Vershire Town Center Pavilion” will receive a matching grant of $40,000 from DHCD’s Better Places program.

Vermont Business Magazine The new Army Mountain Warfare School complex in Jericho is welcoming their first class. Students first reported to the school on Saturday, January 14, 2023. 2023 represents the 40th anniversary of the school. The Vermont Army National Guard and instructors at the Army Mountain Warfare School are proud to welcome the first class in their new $30 million facility in Jericho. The facility took about two years to build.

Vermont Business Magazine Union Bankshares, Inc (NASDAQ - UNB) has announced results for the three months and year ended December 31, 2022. Net income was $3.4 million and $12.6 million for the three months and year ended December 31, 2022 resulting in earnings per share of $0.77 and $2.81 for the same periods, respectively. The Board of Directors also declared a cash dividend of $0.36 per share for the quarter, an increase of 2.9% from the cash dividend of $0.35 paid in recent prior quarters, payable February 2, 2023 to shareholders of record as of January 28, 2023.

Vermont State Police On January 18, 2023, at approximately 10:52 PM the Johnson Fire Department was dispatched to a structure fire at an unoccupied single-family residence. An off-duty firefighter reported the fire to 911 after seeing flames inside the building. When fire crews arrived, they discovered the structure completed involved in fire. Firefighters conducted an external defense attack on the fire. Investigators are pursuing the possibility that the fire was the result of direct human involvement. The intent of that involvement is unknown and under investigation. There were no reported injuries associated with this fire event. The structure is a complete loss and valued at approximately $100,000.

Vermont Business Magazine The EPA will conduct a comprehensive review of completed cleanup work at a Superfund site in Springfield, Vermont this year. The site will undergo a legally required Five-Year Review to ensure that previous remediation efforts at the site continue to protect public health and the environment. The 10-acre Old Springfield Landfill, previously referred to as the Will Dean Dump, was operated by the Town of Springfield between 1947 and 1968. Hazardous industrial waste from local industries was co-disposed with municipal trash into discrete trenches and mixed with municipal solid waste. Most hazardous material was reportedly disposed in bulk liquid and semi-liquid form. Following the closure of the landfill, it was sold and developed for use as a mobile home park, known as Springfield Mobile Home Estates.

Vermont Business Magazine A new study has revealed the states where house prices rose the most over the past year. It should come as no surprise to anyone in Vermont that they have risen at a rapid pace since the beginning of the pandemic. A new study based on 2022 home values shows that Vermont had the third highest increase in the nation. The research by Santa Monica realtors analyzed data from Zillow for the past year, across all 50 states to determine which state had seen the biggest rise in housing prices. The average house price in Vermont is now $386,285 after increasing 16.9% over the past 12 months. Of the five fastest growing states, Vermont had the second highest home value, just behind Florida, which was also the fastest growing.