Current News

by Timothy McQuiston, Vermont Business Magazine Weekly unemployment claims increased again last week. After being near their lowest levels since the beginning of the pandemic, claims have increased for five straight weeks. Claims increased by 55 to 860 (up 167 from the same time last year). The last week claims were under 500 was on March 7 when there were 446. As for the week's ongoing jobless claims, for the week ending November 11, 2020, the Labor Department processed 11,685 claims, down 329 from the previous week and 8,285 more than the same time last year.

Vermont Business Magazine On November 18, 2020 the US Treasury Department and the Internal Revenue Service (IRS) issued tax guidance further clarifying that expenses paid with forgiven Paycheck Protection Program (PPP) loans do not qualify for a business expense tax deduction. The guidance also reconfirmed that Paycheck Protection Program (PPP) loans that have been forgiven or are expected to be forgiven shall be excluded from gross income tax.

by Timothy McQuiston, Vermont Business Magazine The Vermont unemployment rate fell steeply in October as both the number of employed went up as the number of unemployed went down. That is tempered again, however, by another decline in the labor force. The seasonally-adjusted statewide unemployment rate for October was 3.2 percent. This reflects a decrease of one and one tenth percentage points from the prior month’s revised estimate of 4.3 percent. The comparable United States rate in October was 6.9 percent, a decrease of one percentage point from the revised September estimate. Vermont has the second lowest rate in the nation behind Nebraska.

Vermont Business Magazine This year Vermont Breakfast on the Farm shifted its approach to agritourism due to COVID-19. Instead of hosting in-person breakfast on the farm events, a virtual tour was held at Newmont Farm for 1,800 people in May. In addition, a new grant program was created to give Vermont farmers and industry organizations the opportunity to engage the public in learning about modern dairy farming in the Green Mountain State in creative ways.

Vermont Business Magazine Encore Renewable Energy and Greenbacker announced a new partnership today that will expand the deployment of solar and energy storage projects on underutilized property with a new source of development capital from Greenbacker’s Development Opportunities Fund, the companies announced Thursday.

Vermont Business Magazine The Vermont Department of Health is reporting today 148 new cases of COVID-19, which is a state record and reflective of a recent surge. They are also reporting another death for 61 total (WCAX-TV is reporting another person in Rutland has died for a statewide total of 62). The VDH is urging not only that people observe health protocols to stay healthy, but also practice good mental health during these trying times.

Vermont Business Magazine Yesterday, the State of Vermont authorized Blue Cross Blue Shield (BCBS) to move forward with its plan to support health care payment and delivery system reform by attributing the State Employees Health Plans’ (Health Plans) members to the Accountable Care Organization (ACO) healthcare payment reform model effective January 1, 2021. Over the past year, the Administration took the time to review and understand the ACO model as currently administered by OneCare Vermont with the Benefits Advisory Committee, a joint union/management committee created to advise the Administration on issues related to the State Health Care Plans.

Vermont Business Magazine Governor Phil Scott today announced the Vermont Agency of Transportation (AOT) has relaunched the State’s Plug-In Electric Vehicle (PEV) Incentive Program with a new round of $950,000 in incentive funding available to income-qualified applicants to purchase or lease new PEVs. The program was first proposed by Governor Phil Scott in his FY2020 budget, and the first round of the program launched in December 2019.

Vermont Business Magazine The Department of Public Service announces the release of the Draft COVID Response Telecommunications Recovery Plan. The Department is seeking public comment on the draft plan. The Plan was prepared by the independent consulting firm CTC Energy and Technology, in partnership with the Vermont based Rural Innovations Strategies, Inc. The Plan was commissioned at the direction of the Vermont General Assembly through Act 137 and was supported with funding from the federal CARES Act.

Vermont Business Magazine Federal Reserve Bank of Boston President Eric Rosengren and Governor Phil Scott today announced that the Springfield area, Greater Barre, Lamoille County and Winooski are the recipients of $300,000 grants as part of the Boston Fed’s Working Communities Challenge. The program includes more than $700,000 in additional planning and action grants for Vermont communities, and aims to strengthen the economies of rural towns and smaller cities. The competition officially launched in Vermont in 2019 with state, private sector and not-for-profit support.

Vermont Physician Groups Call on Vermonters to Prioritize their Communities and Protect Schools for our Children

Vermont Business Magazine The American Academy of Pediatrics Vermont Chapter, Vermont Academy of Family Physicians and Vermont Medical Society join Governor Scott and the Vermont Department of Health in calling on Vermonters to refrain from any social gathering in order to protect and prioritize essential services like schools, child care, and health care as we see rates of community transmission of COVID-19 rise.

The new restriction on multi-household gatherings is based on epidemiology or systematic observations of how the virus is spreading in our communities, the medical groups said in a statement released Thursday.

Vermont Business Magazine While the return of passenger service to Vermont is not imminent, there's promising news that Amtrak is planning for it. Amtrak today announced it is in discussions with the Town of Brattleboro, NECR Railroad and the State of Vermont on its proposal for a new, Americans with Disabilities Act (ADA)-compliant Brattleboro Station, including a new station building, platform and track changes. The new station will feature the first level boarding platform in Vermont.