Current News

The Vermont Department of Forests, Parks, and Recreation reports that white pine tree needle damage is widespread in the state again this spring. According to Windham County Forester Bill Guenther, “The golden hue of white pine needle blight exploded onto the scene in early June”. Although the damage is very noticeable, it is not life-threatening to healthy white pines.

Widespread yellowing of white pine needles has been particularly noticeable in the region since 2010. Topmost branches are rarely affected by the disease. Although the white pine needle damage looks serious, the trees aren’t dying, and their new shoots should grow normally. Trees will look better in early summer, once all the injured needles are shed.

The US Small Business Administration is reminding small businesses that July 21 is the filing deadline for federal economic injury disaster loans that are available in the counties of Addison, Bennington, Caledonia, Chittenden, Essex, Franklin, Grand Isle, Lamoille, Orange,Orleans, Rutland, Washington, Windham, and Windsor in Vermont as a result of excessive rain and flooding beginning May 5, 2013. Under this declaration, the SBA's Economic Injury Disaster Loan program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster. With the exception of aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers, or ranchers.

The loans are for working capital and can be up to $2 million with interest rates of 4 percent for eligible small businesses and 2.875 percent for non-profit organizations, and terms up to
30 years.

Vermont Business Magazine Another economic data point ranks Vermont among the best in the nation. State personal income increased 0.8 percent on average in the US in the first quarter of 2014, an acceleration from the 0.5 percent growth in the fourth quarter of 2013, according to estimates released Tuesday by the US Bureau of Economic Analysis. Personal income grew in 46 states and growth accelerated in 24 of those states. The fastest growth, 1.4 percent, was in Washington state, Vermont, and West Virginia. Personal income fell 2.9 percent in North Dakota, 0.3 percent in South Dakota, and 0.2 percent in Arkansas and Nebraska. Inflation, as measured by the national price index for personal consumption expenditures, was 0.3 percent in the first quarter, the same as in the fourth quarter.

Vermont State Auditor Doug Hoffer today released the findings of an investigation into a powerful state database that sheds light on prices, trends, and variation across Vermont’s health care system. The Vermont Health Care Uniform Reporting and Evaluation System (VHCURES) is a digital catalogue of all fees for medical services and products that insurers paid over the last seven years for Vermont residents. The Auditor’s inquiry found that while the State has made great progress in developing this resource, State entities have yet to fulfill the statutory duty of using the database to better inform consumers about health care.

by Morgan True vtdigger.org A recent study of proposed health insurance premiums in state exchanges shows Vermont could have the highest average cost and least variation in the price of the most popular silver plans.

Four high schools in Vermont were awarded grants from the Vermont Agency of Education (AOE) to help build public understanding and support for the Act 77 Legislation of 2013 designed to provide students with multiple pathways to graduation, the Agency announced today.

The four schools are: Otter Valley Union High School in Brandon; Twinfield Union School in Plainfield; Champlain Valley Union High School in Hinesburg; and Colchester High School in Colchester.

“We are delighted to have the opportunity to work with these schools to ensure that communities across Vermont fully understand the implications of the legislation. In an era of unprecedented societal change, our best shot at creating a prosperous future for Vermont and our students is to remodel our educational delivery system to meet their needs,” said Deputy Secretary John Fischer. “We need to spread that message far and wide.”

by John Herrick vtdigger.org The vast majority of Vermonters want to use less fossil fuel for their energy needs, but the cost to reduce one’s carbon footprint is a challenge, according to a survey the Energy Action Network released last week. The Energy Action Network is launching an initiative designed to promote ways residents can turn strongly held beliefs about climate change into action, the group says. Andrea Colnes, executive director of the network, said her organization will create a website designed to show Vermonters how shifting from fossil fuels and to cleaner energy is doable and affordable. This includes home retrofits that could save more heat, installing efficient electric heat pumps and making the switch to electric vehicles, among other solutions, she said.

by Tom Pelham Inevitably, violating principles of sustainable spending has both fiscal and political consequences. At its core, sustainable spending requires that growth in government spending reasonably equate to growth in the underlying economy supporting such spending, especially in relatively high tax states like Vermont. In recent years, our state leaders have wandered from these core principles and the consequences, both fiscal and soon political, are now unfolding.

Primary data on recent rates of change in Vermont’s economic and demographic profile are readily available.

For example:

-The U.S. Bureau of Economic Affairs recently reported that the growth in Vermont’s real gross domestic product (GDP) for 2013 was 1.9%. BEA GDP release

Merchants Bank ranked 18th on ABA Banking Journal’s 2013 list of top performing midsize banks, three places higher than their 21st place ranking in 2012. A common thread uniting this year’s group of “Top 25” performers was efficiency. “Like many of our Top 25 peers, Merchants Bank invested in technology and relied on process improvement to generate a positive impact throughout the year,” stated Mike Tuttle, President and CEO of Merchants Bank. “We are very proud to again be included in this group of exceptional banks, and are always looking for opportunities to improve that will benefit our customers, employees and shareholders over the long term.”

The US Army Corps of Engineers has granted Vermont Gas the final permit necessary to begin construction of Phase 1 of the Addison Rutland Natural Gas Project. “This final permit from the Army Corps of Engineers makes it possible for Vermont Gas to begin the work to bring the economic and environmental benefits of natural gas to more Vermont homeowners and businesses,” said Eileen Simollardes, vice president at Vermont Gas and director of the Addison Rutland Natural Gas Project. Vermont Gas plans to move forward with delivery of materials to its staging areas and the South Burlington-based natural gas utility plans to hold a groundbreaking ceremony in the near future.

The delay in receiving the permit had put of the start of the project from June 1. The Public Service Board had rejected a request from Vermont Gas to move ahead with the initial phase of the pipeline project before it had received the Army Corps permit.

Vermont’s business and government leaders are determined to do whatever they can to maintain employment at the IBM plant outside Burlington. If it were up to the Greater Burlington Industrial Corp, that would start with a $4.5 million cash payment to IBM or its successor, as soon as possible. IBM, ensconced in Essex Junction for decades and with satellite operations in Williston, is reportedly looking to unload its computer chip-making division. The potential sale likely would include the company’s Vermont facilities — and could jeopardize the jobs of an estimated 4,000 people who work there.

Since its formation in 1954 and successful recruitment of IBM to Vermont, the Greater Burlington Industrial Corp has worked with IBM executives and state and local leaders on growth, new investment and maintaining a competitive standing within IBM itself and across the world. Current IBM Vermont Operations directly affect the economic wellbeing of over 8,000 Vermonters. Moreover, many communities are positively impacted by IBM’s investments in people and innovation that have made the Burlington area and the State of Vermont a cluster of excellence in research, development, design and high-tech manufacturing.