Current News

Vermont Business Magazine Vermont legislators from the House and Senate introduced on Thursday legislation anticipated to raise as much as $10 million per year to support affordable housing in Vermont and reduce homelessness. The bills propose a $2 per night Occupancy Fee on hotel, motel and AirBnB guests, which will fund a newly created Workforce and Supportive Housing Fund. The fund will be managed by the Vermont Housing and Conservation Board. According to promoters of the bill, for the price of a cup of coffee, Vermonters will gain better access to affordable and workforce housing including rental assistance and housing related services. H217 and its Senate companion bill have over 35 sponsors.

Vermont Business MagazineThe USDepartment of Agriculture (USDA) seeks grant applications from rural businesses interested in increasing their bottom line through performing energy efficiency upgrades or installing renewable energy systems. USDA Rural Development is accepting applications until March 31for funding through the Rural Energy for America Program (REAP).

Big Picture Farm solar in Townshend. USDA photo.

Vermont Business Magazine Saint Michael’s College will be joining more than 100 colleges and universities as part of the Coalition for Access, Affordability, and Success. The Coalition is a diverse group of public and private universities that provide substantial support to lower–resourced and under-represented students, offer responsible student financial aid support, and demonstrate a commitment to student graduation.

Saint Michael’s will accept the Coalition application for admission beginning this fall.

by Benjamin Kinsley Campaign for Vermont Prosperity Many Vermonters probably had mixed reactions to the nomination of Betsy DeVos as USEducation Secretary. On the one hand, she is espoused as a proponent of school choice which is prized by many of our rural communities. On the other hand, Vermont lead the country in rejection of Donald Trump last November (by 28 points). Nearly every single one of his cabinet choices have drawn criticism, but none have drawn quite the ire that DeVos has. Most of this opposition has come from teachers unions who represent public school educators, and Democrats who believe DeVos plans to gut public schools across the country. They may not be wrong.

Vermont Business Magazine For the second consecutive month, Personal Income, the state's most important revenue source, was again ahead of targets, leading to an overall positive month for taxes. General Fund revenues collected for the month of January totaled $165.86 million, $3.12 million above the consensus revenue targets adopted by the Emergency Board on January 19, 2017. The Corporate Income Tax missed its mark by -$1.65 million as did the Estate Tax by -$1.07 million. The Sales Tax was also down, while Rooms & Meals stayed just ahead of targets.

Vermont Business Magazine The Champlain Housing Trust (CHT) Bright Street Housing Cooperative, a new, 40-unit resident-controlled housing development in the Old North End, has been selected for the 2017 Audrey Nelson Community Development Achievement Award from the National Community Development Association (NCDA). The City of Burlington, which sponsored the award, joined six other communities selected to receive the award on behalf of the co-op.

Vermont Business Magazine Douglas Fisher, Chairman of the Vermont Federal Credit Union Board of Directors, announced today thatJean Giardhas been named President and Chief Executive Officer (CEO) of Vermont Federal Credit Union. Giardjoined Vermont Federal Credit Union as Chief Financial Officer (CFO) in April of 2006 and has been an integral part of the senior management team for over ten years. During that time, she helped the Credit Union grow from a $160 million financial institution to its current $477 million in assets.

Jean Giard, President and Chief Executive Officer of Vermont Federal Credit Union

Vermont Business Magazine After 32 years of faithful service, Jerry Cross, President and CEO of One Credit Union has announced his intent to retire at the end of February. When Jerry joined Bryant Credit Union in 1985, it was a fledgling outfit with just $1.8 million in assets, 1,400 members, and only the most basic checking, savings and loan products. Over the years, Jerry led the expansion to a full service suite of savings and lending solutions, including mortgages, business lending, along with the latest in e-channel technology.

Under Cross’s leadership, One CU is now approaching $150 million in assets, boasting over 16,000 members, with six branches across Vermont and NH, and proudly serving members with leading edge technologies like Mobile Banking, and EMV chip card technology to better protect cardholders from fraud, and soon Mobile Payments (Apple Pay, Samsung Pay and Android Pay) too.

Vermont Business Magazine Governor Phil Scott, in collaboration with Attorney General TJ Donovan, today introduced legislation that helps safeguard the constitutional rights of Vermonters, ensures the State of Vermont takes a unified position when dealing with the federal government, and supports law enforcement in its continued compliance with federal law.

Joined by Attorney General TJ Donovan, Senate Pro Tem Tim Ashe, House Speaker Mitzi Johnson, Lieutenant Governor David Zuckerman, Senator Dick Sears, co-sponsors of the legislation, and members of the Governor’s Civil Rights and Criminal Justice Cabinet, Scott introduced legislation to address concerns over federal government overreach, including its stated policy to request state and local law enforcement agencies perform immigration enforcement functions under the direction and supervision of the Federal Department of Homeland Security, and at the state’s expense.

Vermont Business Magazine More than 50 Vermont attorneys have signed a letter urging the Legislature to “reform our state’s outdated and unjust policies towards cannabis by passing a bill to legalize and regulate its cultivation and sale for adult use in 2017.” The letter was presented to lawmakers at the House Judiciary Committee hearing on H170 Thursday morning. H170 is a bipartisan proposal to eliminate penalties for possession and cultivation of personal amounts of marijuana by adults 21 and older. It also reduces penalties for possession and cultivation of larger amounts of marijuana.

Vermont Business Magazine Yesterday, Attorney General Donovan and 16 other Attorneys General filed an amicus brief in support of the Commonwealth of Virginia’s lawsuit against the Trump Administration’s executive order on immigration. This follows an amicus brief filed earlier this week with the USCourt of Appeals for the 9th Circuit, supporting the Washington State lawsuit against the executive order. The amicus brief is led by the Attorneys General from New York, Illinois, Massachusetts, and Pennsylvania, and also signed by the Attorneys General from Vermont, California, Connecticut, the District of Columbia, Delaware, Iowa, Maryland, Maine, North Carolina, New Mexico, Oregon, Rhode Island, and Washington.

Vermont Business MagazineThe USDA-Natural Resources Conservation Service (NRCS) in Vermont is encouraging producers to submit applications for financial and technical assistance through theEnvironmental Quality Incentives Program (EQIP).While EQIP is offered through a continuous signup, NRCS makes periodic funding selections.The last application cut-off date for farmstead practices to be funded in 2017 isFebruary 17.