Current News

The Vermont Economic Development Authority (VEDA) has approved nearly $30.5 million in business financings, including reissuance of a $20.5 million tax-exempt revenue bond. Roughly $10 million of the total approved financing is comprised of loans for a variety of economic development projects in Vermont’s commercial, agricultural, small business and energy sectors.

VEDA approved the reissuance of up to $20.5 million in tax-exempt revenue bonds previously issued by the Authority for Wake Robin Corporation, a Vermont 501(c)(3) nonprofit corporation that owns and operates a well-known continuing care retirement community with approximately 320 residents in Shelburne. VEDA has assisted Wake Robin with tax-exempt bond financing several times to finance the construction and expansion of the facility. The new bond was purchased by M&T Bank.

In addition, VEDA approved over $3 million in direct commercial loans, including:

Vermont Tech has received the first training provider grant awarded in 2015 by the Vermont Department of Economic Development’s Vermont Training Program. The $18,000 grant will offset some of the costs associated with Vermont Tech’s Advanced Machinist Apprentice Program. In an effort to fill a growing manufacturing need in Vermont, Vermont Tech partnered with Green Mountain Economic Development Corporation, Hartford Area Career Technology Center, GW Plastics, North Hartland Tool and NE Precision to create the four year Advanced Machinist Apprenticeship Program. The program allows participants to earn college credit while gaining on-the-job training.

Vermont Business Magazine Governor Peter Shumlin took to the podium before a joint meeting of the Legislature in the House Chamber this afternoon to outline plans to increase Medicaid payments to providers, with the help of a $90 million payroll tax on every employer; to close a loophole in the income tax of $15 million to help pay off a $94 million budget shortfall in order to balance the FY 2016 Vermont state budget; and to use a carrot-and-stick approach to find a way to increase public education quality while lowering property taxes. He did not explicitly enunciate an immediate way to lower property taxes, but hopes that local communities and the state can develop a partnership to do so. To that end, he suggested the state offer $3 million carrot to help schools consolidate, while at the time holding a stick to ensure that local districts could be forced to close schools if standards are not met.

Fired-Up Tobacco, Inc and its owner, Christopher P Moreau of Barre, Vermont have settled with Attorney General Bill Sorrell for violations of Vermont’s tobacco law. Mr. Moreau and Fired-Up Tobacco, Inc. failed to file required reports, failed to maintain records, failed to report the sale of certain tobacco products, and illegally sold their own store-brand of roll-your-own tobacco.

Three Vermont communities advanced to the semifinal round of the Georgetown University Energy Prize (GUEP), a national competition that is challenging communities across the U.S. to rethink their energy use. At a press event in Washington, DC. today, Montpelier, South Burlington and Waterbury/Duxbury (a joint application) were among the 50 communities acknowledged for leading the way on energy efficiency. Each of the 50 towns from around the country will compete for a $5 million purse, which can be used to support community energy efficiency initiatives, education or energy innovation.

Under the leadership of the local energy committee, each of the three communities plans to use this significant prize to build off of – and considerably strengthen – their work to help their municipalities and neighbors reduce their fossil fuel use.

Public Assets Institute Vermont taxes are higher, as a percentage of income, on the poor and those in the middle than they are on the 1 percent at the top, according to the new study "Who Pays?" released Wednesday by the Institute on Taxation and Economic Policy (ITEP). Vermont is not alone; the wealthiest pay less than everyone else in all states. But Vermont is better than most when it comes to collecting taxes from those who are better able to pay, according to the study.

"In recent years, multiple studies have revealed the growing chasm between the wealthy and everyone else,” said Matt Gardner, executive director of ITEP. “Upside down state tax systems didn’t cause the growing income divide, but they certainly exacerbate the problem. State policymakers shouldn’t wring their hands or ignore the problem. They should thoroughly explore and enact tax reform policies that will make their tax systems fairer.”

Bond Auto Parts, Inc, a Barre, Vermont, based company, created a fundraising mission during this past holiday season and raised $30,525 for local food shelves across its network of stores. Food shelves across the region are typically hit hard during the holiday season and the money raised can go to purchasing food to replenish their shelves or help run their programs. Bond Auto’s 45 store locations throughout Vermont, New Hampshire, Massachusetts and New York worked hard along with their customers to raise the funds. Each store started raising funds just before Thanksgiving and had until December 31st to raise raise as much as they could to donate to a local food shelf within their community.

Waterfowl hunters who did not remove their hunting blinds from the waters of the state earlier must do so before February 15 on Lake Champlain or May 15 on inland waters according to a reminder from the Vermont Fish & Wildlife Department. State law requires removal of the blinds before these deadlines in order to protect natural areas and to prevent boating accidents after the ice melts.

"Removal of the blinds and any posts that may be below the surface of the ice is important because of the danger they present when boaters are on the water in the spring," said State Game Warden Colonel Jason Batchelder. Batchelder says wardens have recorded names and addresses of blind owners and will follow up with inspections.

Governor Peter Shumlin has announced that construction has been completed on three solar projects at state correctional facilities in St Johnsbury, St Albans and Windsor, the first projects to go online in the largest public solar initiative in the history of Vermont. These 500kW projects are part of an initiative to provide solar power to state government facilities, including each of the state’s correctional facilities, several state office buildings, as well as the pavilion building that houses several state offices, including the Governor’s. Utilizing Vermont's group net metering law, the three recently-completed projects will provide power to 12 state facilities. The completed initiative is slated to provide energy for a total of 19 state buildings. Construction of the additional projects will continue through 2015.

Only days into 2015 and it’s clear that the team of Flavor Gurus at Ben & Jerry’s have been hard at work. The ice cream maker unveiled its latest addition to the legendary line up of flavors - a collection of three decadent Cookie Cores that will leave fans of ice cream, cookies and cookie butters clamoring for more. The Cookie Core line utilizes the same design as Ben & Jerry’s popular 2014 Core flavors but instead of jam, fudge or caramel running directly through the middle of the pint, the Flavor Gurus have added cookie butters. The crunchy, swirly inclusion of spoonable cookies right down the center of each pint is a taste that must be eaten to be experienced. The Cookie Cores tie in favorites such as chocolate cookies, peanut butter cookies, and speculoos cookies (a cinnamon spice cookie) at their respective centers, and let fans customize the way they eat each and every pint.

Moving ahead on implementing the regulations that will govern the labeling of foods produced with genetic engineering, the Attorney General has commenced the formal rule-making process. Last month, Vermont Attorney General William Sorrel submitted the proposed rule to the Vermont Secretary of State’s office. This submission began the statutory process required by Vermont’s Administrative Procedure Act.

Efforts to improve Lake Champlain’s water quality got another major boost Wednesday, coming hard on the heels of a succession of other announcements of funding for Lake cleanup efforts in recent months. Grants under a new US Department of Agriculture (USDA) resource conservation program in last year's Farm Bill were announced Wednesday in Washington by USDA Secretary Tom Vilsack and were hailed at an afternoon event at the Vermont State House by Governor Peter Shumlin and state agency officials who put together Vermont's application, and by others, including the chief of USDA's Natural Resources Conservation Service, Jason Weller.