Current News
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Vermont Business Magazine The Vermont Community Loan Fund, (VCLF) a 501(c)3 nonprofit, mission-driven lender, has been named the 2015 Vermont Mission Lender of the Year by the US Small Business Administration (SBA) Vermont District Office. VCLF Executive Director Will Belongia accepted the award at the SBA Annual Meeting and Awards Breakfast in Montpelier on Thursday, December 9. The award was presented by SBA Region 1 Administrator Seth Goodall and SBA Vermont District Director Darcy Carter.
“Financial institutions that made SBA loans in FY15 played a key role in supporting small business and economic development in Vermont,” said Carter. “SBA loans provide low-cost capital to start-ups and small businesses on reasonable terms,” she added.
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Vermont Business Magazine Today, North American Breweries announced that Mark Hegedus, a beer industry veteran, will lead the Magic Hat Brewing Company as general manager. This newly created position is part of North American Breweries’ plan to re-invigorate and grow Magic Hat’s position as an established craft brewery with a 21-year history. Magic Hat also will add new brewing equipment, re-locate its brand team to Burlington, Vermont and increase its sales staff in key markets across the country. These investments are a part of North American Breweries’ ongoing commitment to strengthen its craft beer business.
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Vermont Business Magazine During calendar 2015, the Vermont Economic Progress Council (VEPC) authorized job creation incentives totaling $4.3 million under the Vermont Employment Growth Incentive (VEGI) program, which will encourage the creation of 332 new, well-paying jobs for Vermonters, with an average compensation of $48,250. These projects will also create about $13.5 million in new, full-time payroll for Vermonters, and the companies plan to invest $47.7 million in facilities and machinery and equipment in Vermont between 2015 and 2019.
2015 VEGI INCENTIVE AUTHORIZATIONS
Company
Cabot Hosiery Mills, Inc.
Flex-A-Seal, Inc.
National Hanger Company, Inc.
Precyse Solutions LLC
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Vermont Business Magazine The Department of Public Service announced Friday that the Public Service Board has approved the Memorandum of Understanding entered into between FairPoint and the Department that will benefit customers who suffered service outages during 2014. Under the terms of the MOU, approximately 22,000 FairPoint customers will receive credits on their telephone bills for disrupted service. In addition to the bill credits, FairPoint commits to accept over $52 million in federal Connect America Two (CAFII) funding to extend high speed broadband access to 28,400 Vermont addresses. Terms of the MOU also bring enhanced security to the state’s E911 system infrastructure.
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by Mike Smith The Washington Post recently conducted an analysis to fact-check a statement by Senator Marco Rubio when he said that “none of the major shootings that have occurred in this country over the last few months or years that have outraged us, would gun laws have prevented them.” The Post developed a list of 12 mass shootings, starting with the horrific Newtown, CT, shootings that killed 26 people, mostly children, at an elementary school in 2012, and ending with the recent shooting in San Bernardino, CA, that occurred just weeks ago and left 14 people dead and many more injured. The conclusion: Rubio’s comments stand up to the Post’s scrutiny. His statement is correct.
So why are politicians rushing to institute gun control laws that may have little effect on reducing this type of violence? Because in politics, when you can’t really do anything, you must look like you’re doing something.
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Vermont Business Magazine The Norwich University Sullivan Museum and History Center presents “Saddle Up! Norwich Cavalry: Training, Touring and Tactics on Horseback,” with an opening reception to be held on Friday, January 22, from 3:30-5:30 pm. The state’s only Smithsonian Affiliate, the Sullivan Museum and History Center is free and open to the public. The story of the Norwich Cavalry and its establishment is full of wonderful images of the days when equines were part of the daily life at the University. Fascinating facts and “firsts” at Norwich come to life with life size imagery, sounds and objects from Norwich’s cavalry history. This exhibition looks back at the time when Norwich ruled on the Polo fields and made history in the new sport of endurance racing.
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by Erin Mansfield vtdigger.org The embattled Internet company started by a Brattleboro man now accused of running a Ponzi scheme has agreed to pay back thousands of dollars it owes the state of Vermont. And former managers have bought the broadband assets to create a new company. GAW High Speed Internet, which Homero Josh Garza started under the name Great Auk Wireless in 2005, has agreed to pay Vermont $18,018. The company received the money from the state in January 2014 to build broadband in Rutland County, but the state says it never completed the work. The Attorney General’s Office spent more than a year trying to get the money back.
Josh Garza
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Vermont Business Magazine The 2015 Subaru “Share the Love” is in full swing and Twin City Subaru is again participating. Twin City has chosen the Vermont Foodbank as their “hometown charity” to be added to the list of organizations that customers can select to receive the 2015 Subaru “Share the Love” donation.
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Vermont Business Magazine Mayor Miro Weinberger today announced the appointment of Justin St. James as the City’s newest Assistant City Attorney. St James, a New Hampshire native, comes to the City of Burlington after nearly four years working as a union attorney and negotiator in Oregon and Vermont. Mayor Weinberger will request the City Council’s approval of this appointment at its December 21, 2015 meeting. If approved, St James will start his service to the City on January 4, 2016. “The City Attorney’s Office plays a critical role protecting taxpayers from financial risks and sorting through complex local governance issues created by emerging technologies and social challenges,” said Mayor Weinberger. “I am excited to add Justin’s considerable experience and energy to this key City Hall team.”
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Vermont Business Magazine Reflecting the holiday season hiring, Vermont's weekly unemployment claims, which have steadily increased since the end of the summer, fell steeply last week and once again fell below last year's levels. Generally, claims in 2015 have been running below last year's totals. For the week of December 12, 2015, there were 719 claims, a decrease of 554 from the previous week's total and 148 fewer than they were a year ago. By industry, claims rose again for Construction, typical for this time of year. As has been the trend, Services led all categories with 38 percent of all claims, but were down significantly from recent weeks. Manufacturing fell dramatically from about 200 to about 65.
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by Timothy McQuiston Vermont Business Magazine The Vermont Department of Labor announced today that for the third consecutive month the seasonally-adjusted statewide unemployment rate for November was 3.7 percent. This represents no change from the revised October rate (3.7 percent). The national average in November was unchanged at 5.0 percent. Vermont’s unemployment rate is 10th lowest in the country and second lowest in the East behind New Hampshire (tied for 4th at 3.2 percent). Vermont’s ranking, which was second lowest in the US in April 2014, has slipped over the last several months relative to other low-rate states. North Dakota once again was lowest at 2.7 percent and New Mexico was highest at 6.8 percent (see full list below).
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Vermont Business Magazine Gifford Medical Center celebrated the opening of 25 new private inpatient rooms on December 17, 2015. The new unit brings an upgraded standard of inpatient care unusual for a small community hospital in Vermont. Private rooms reduce infections and stress, allow medical teams to bring technology and service directly to the bedside, and give patients the privacy they need for bedside consultations and family visits. This model of care has been shown to improve sleep, reduce stress, promote healing, and shorten hospital stays.