Current News

Vermont Business Magazine Brett Smith, President and CEO of One Credit Union, announced the winners of the 2020 Scholarship Awards. To qualify applicants must maintain a GPA of 3.0 or better, demonstrate financial need, and be eligible for membership at One Credit Union, as well as submit a 300 word essay explaining their experience with teamwork and community building. Each of the seven winners received $1,000.

Vermont Business Magazine The Paramount Theatre announced today a repositioning of its management team effective July 1, 2020. Commencing July 1, 2020 long-time Programming Director, Eric Mallette will be promoted to the position of Interim Executive Director. Bruce Bouchard, long-time Executive Director, will remain with the theatre assuming management of fundraising and development. Mallette will continue to program the theatre’s seasons; a duty he has had the responsibility of for the past 12 years.

Vermont Business Magazine The Vermont Mayors Coalition presented their COVID-19 related recovery priorities. Among the priorities are Act 250 reform and extension of the TIF deadline. And of course they are seeking COVID-19 relief funds to help fill budget holes. The state is also seeking federal budgetary assistance.

The Act 250 reform is sought because, as the mayors put it, they already have permit regulations and Act 250 just adds redundancy, cost and time to much needed downtown redevelopment projects.

The TIF program allows qualifying municipalities to retain some property tax revenues, in lieu of sending them to the state Education Fund, to benefit, again, downtown redevelopment. The mayors said because of the pandemic they're losing about a year from the TIF benefit.

Leonine Public Affairs Protests against police brutality and systematic racism continued this week as Vermonters showed up by the thousands and marched in cities and towns across the state. Many lawmakers as well as Governor Phil Scott have been vocal in their support of the protesters and have indicated interest in working to pass meaningful police and systemic reforms. The governor and health officials are urging protesters to get tested for COVID-19 as the demonstrations bring large groups of people into close proximity.

by Bill Schubart Like many Vermonters, I’ve been watching with pain and empathy the protests unfolding in countless cities and towns across the country. Watching the murder of George Floyd has called on me to explore my own white privilege and intersectionality perspective.

Vermont Business Magazine Governor Phil Scott on Friday announced the second phase of the Administration’s $400 million dollar Economic Recovery and Relief Package. Phase 2 uses $90 million to bring financial assistance to struggling businesses, housing and community recovery efforts, broadband expansion, and regulatory modernization.

Vermont Business Magazine Northfield Savings Bank (NSB) has given a $15,000 donation to the Vermont Foodbank as a result of NSB’s “Make a Mobile Deposit, Make a Difference” campaign. For every mobile deposit made in the month of May, NSB donated $3. The funds go to the Foodbank at a time of urgent need due to the COVID-19 pandemic. According to the most recent data from Feeding America, a nationwide hunger relief organization, the number of food insecure people in Vermont has increased by 46 percent. Local child food insecurity has increased by 60 percent.

Vermont Business Magazine As of Thursday evening, a total of 81 cases of COVID-19 are associated with the Winooski outbreak, with the majority of cases in Winooski. Most of the rest are in nearby Burlington, with a small number elsewhere in Chittenden County. There have been no deaths associated with the outbreak, but there is now one person hospitalized. Only 18% of people associated with the outbreak are reporting symptoms. This indicates that the number of people who were asymptomatic is a contributing factor to the spread of the virus in the community. Vermonters are reminded that even though the overall rate of positives statewide is low, the virus is still circulating throughout the state. The Vermont Department of Health also reported Friday that there were 10 new cases statewide and only two hospitalized with COVID-19. It's been over two weeks since there's been an associated death, for 55 total.

by Timothy McQuiston, Vermont Business Magazine The Vermont House today fast-tracked a $93 million Coronavirus Emergency Economic Recovery Grants package and sent it to Governor Phil Scott for his signature. The money is targeted for those businesses most impacted by the COVID-19 pandemic and the resultant economic impact. The Vermont unemployment rate is at a record 15.6 percent. However, Scott and his administration are "frustrated" with the package that cuts his $310 million proposal by more than two-thirds and adds restrictions in how it is dispersed.

The House bill provides:

• $50 million of Coronavirus Emergency Economic Recovery Grants distributed to businesses by the Department of Taxes and Agency of Commerce and Community Development.

by Timothy McQuiston, Vermont Business Magazine Initial unemployment claims increased last week for the first time since their peak in early April. At that point, Governor Scott's "Stay Home" order resulted in the closing of schools, restaurants, construction and more, while other businesses cut back operations. As the governor continued to open up the economy, the weekly unemployment insurance claims had fallen until last week.

by Dr Jonathan Spiro, Interim President of Castleton University I am pleased to announce Castleton University’s intention to resume face-to-face instruction this fall. As you know, the COVID-19 pandemic is expected to extend through the year, and the arrival of students on campus will likely require a number of safety measures. Nevertheless, I am excited for students to return in August, and our faculty and staff are working hard to ensure we can provide them with the best possible experience.

Vermont Business Magazine School immunization data released by the Vermont Department of Health shows that over 95% of Vermont students from kindergarten to 12th grade have all their required vaccines. According to Health Department data, 77% of schools — representing 89% of Vermont students — meet the 95% immunization rate needed for community immunity against measles. Ninety-five schools had a MMR (Measles, Mumps and Rubella) vaccination rate of less than the 95% immunization rate.