Current News

FreshTracks Capital, based in Shelburne, announced Thursday the closing of FreshTracks III, its third venture capital fund raised since the firm was founded in 2000. This most recent Fund raised $11.5 million from 48 Limited Partners, and intends to invest in 10 – 15 companies over its 10 year life. FreshTracks deploys most of its investment capital in Vermont-based high growth companies that have an opportunity to grow, increase employment, and generate significant financial returns over time for founders, employees and shareholders. The firm’s General Partner consists of co-founder Cairn Cross, and Managing Directors Tim Davis & Lee Bouyea, who have worked together at FreshTracks since Davis & Bouyea joined the firm in 2005. FreshTracks Co-founder Charlie Kireker remains a Senior Advisor to the Firm, and continues to be a valuable resource to the General Partner on a frequent and ongoing basis.

Vermont Student Assistance Corp, the state’s nonprofit corporate agency committed to the mission that all Vermonters can pursue education after high school, announced it has completed the sale of $29.9 million in education loan revenue bonds, receiving an ‘AA’ rating from Standard and Poor’s and an ‘A’ rating from Fitch Ratings. VSAC used the successful bond transaction to raise funds to offer competitive, fixed-rates as low as 5.85 percent APR on the Vermont Advantage loan for students in the 2014-2015 school year. The Vermont Advantage education loan is available to both undergraduate and graduate students, with a qualified co-signer, who need additional financing for postsecondary education or training. Vermont students attending college in the U.S. or abroad or students from out of state attending a Vermont institution are eligible for this financing.

Vermont Business Magazine While the national financial press was reporting it late Wednesday, IBM (NYSE: IBM) officially announced today that it is investing $3 billion over the next 5 years in two broad research and early stage development programs to push the limits of chip technology needed to meet the emerging demands of cloud computing and Big Data systems. These investments will push IBM's semiconductor innovations from today’s breakthroughs into the advanced technology leadership required for the future. According to national reports, this is not new money but shifting it to newer, future technologies. Those press reports also suggest that IBM is not getting out of the semiconductor business altogether, despite speculation it will sell its Systems & Technology group to Globalfoundries.

The Health Department has alerted health care providers in Windham County about a rise in the number of people with confirmed cases of whooping cough – a total of 11 during the month of June. Ten of the cases were among children ages 3 to 17, and one was an adult. Cases occurred as schools were closing or after they had closed for the summer. To date in July, there are five more suspected cases. All but one of the confirmed and suspected cases are from Brattleboro.

Whooping cough, also known as pertussis, is a highly contagious disease caused by a bacterial infection of the lungs. While fully immunized children can get whooping cough if it takes hold in a community, vaccination is the safest and most effective way to prevent serious illness. The symptoms of this illness are most severe in infants who are too young to be fully vaccinated. The last major outbreak in Vermont was in 2012, with more than 600 cases, including more than 20 infants, statewide.

The parent company of Lake Sunapee Bank, New Hampshire Thrift Bancshares, Inc (NASDAQ: NHTB), has declared a regular quarterly cash dividend of thirteen cents ($0.13) per share payable July 31, 2014, to stockholders of record as of July 24, 2014. Sunapee has several branches in Vermont.

FairPoint Communications, Inc (Nasdaq: FRP), a leading provider of advanced communications in northern New England, has expanded broadband to homes and businesses in Albany and Barnet; Royalton and Sharon, Clarendon, Shrewsbury, West Rupert and Sandgate; and Putney and Westminster.

“Our next-generation network allows us to expand broadband service into areas with no high-speed Internet access and provide enhanced services across the state,” said Beth Fastiggi, FairPoint state president for Vermont. “Broadband availability opens the doors to the world for the residents and businesses in Vermont and is fundamental to the state’s future economic growth.”

Vermont Business Magazine Vermont's rural roads are in relatively poor condition, but are also relatively safe, according to a new report based on 2012 data. According to the report by TRIPP, a DC-based industry group that evaluates the nation's surface transportation, America's rural heartland plays a vital role as home to a significant share of the nation’s population, many of its natural resources and popular tourist destinations, and as the primary source of the energy, food and fiber that supports America’s economy and way of life. The strength of the nation’s rural economy relies greatly on the quality of its transportation system, particularly its roadways, which link rural America with the rest of the US and to markets in other countries.

by Katie Jickling vtdigger.org The latest technology in biodiesel on display at Nordic Dairy Farm more closely resembled a high school science project. On a table, a tangle of clear pipes connected a series of large flasks that gurgled with green and brown liquids. This was just a model, said GSR Solutions president Anju Dahiya, who headed up the year-long research effort.

In a unique example of the international cooperation that is at the heart of resource management in the Lake Champlain Basin, the US Fish and Wildlife Service (USFWS) and the town of Notre-Dame-de-Stanbridge in Québec have worked together to construct a barrier to prevent sea lamprey from moving upstream to spawn on the Morpion Creek, a tributary to the Pike River. The barrier, located adjacent to the municipal office, officially opened on May 15. The town and the USFWS share ownership of the barrier, which physically traps lamprey as they migrate. Non-target species caught in the trap are removed and allowed to pass upstream without harm. The barrier is an alternative to chemical lampricide treatments that are used in other parts of the Basin. USFWS staff currently operate the barrier, while town officials have taken an active role in site maintenance and engaging the public.

Members of the Friends of Morgan Street Wetlands group have received verbal notification that the group’s request to the Vermont Housing and Conservation Board for funding assistance to acquire and preserve a parcel of land in Bennington was approved. The 140-acre piece of property known as the Morgan Street Wetlands currently provides recreational opportunities for those in the surrounding area, but those opportunities are currently at risk said Bennington’s Planning Director, Daniel Monks. “The land is currently for sale, and while this group currently has an option on the property, the only way we can be sure to preserve the recreational opportunities will be to eventually purchase the property.”

The US Environmental Protection Agency (EPA) released a new tool today to help communities prepare for, deal with and recover from floods. The Flood Resilience Checklist offers strategies that communities can consider, such as conserving land in flood-prone areas; directing new development to safer areas; and using green infrastructure approaches, such as installing rain gardens, to manage stormwater.

“Flood risk in New England is increasing with climate change,” said EPA Regional Administrator Curt Spalding. “We have seen severe impacts from floods across our region, and we must be thinking about how to prepare for the next big storm. Parts of the Mad River Valley have focused on implementing locally specific smart growth techniques when rebuilding after Tropical Storm Irene. These efforts have contributed to this checklist that will help flood-prone communities think through these issues and come up with the solutions that work best for them.”

by Cyrus Patten Campaign for Vermont The Agency of Human Services and the Department for Children and Families have come under fire for recent events including the death of two children at the hands of irresponsible adults – unimaginable tragedies for most of us. But consider the hundreds of children whose lives are being irreparably harmed every day by a combination of poor parenting and a system that is failing to ensure their social-emotional wellbeing.

Vermonters are calling for accountability (though notably missing is the voice of the so-called “advocacy groups” – most of whom depend on money from the Agency of Human Services). With such a ubiquitous call for change, why hasn’t anyone been held accountable?