Current News

by Suresh Garimella, President, University of Vermont UVM is more reliant on tuition than nearly any other public research university—73% of our general fund expenditures are paid by tuition. If we experience even a half of the enrollment decrease predicted by current national surveys, we will suffer a $26 million loss of revenue, or over 7% of our general fund budget. Even if we experience no enrollment decrease and no shift from nonresidents to residents, we still have to address $15 million in immediate COVID-19 expenses and a $5 million recurring increase in the health care premium contributions we make on behalf of our employees.

Vermont Business Magazine Vermont is among the top five spenders on public education in the nation and states in the Northeast spend by far the most of any region. The amount spent per pupil for public elementary and secondary education (pre-K through 12th grade) for all 50 states and the District of Columbia increased by 3.4% to $12,612 per pupil during the 2018 fiscal year, compared to $12,201 per pupil in 2017, according to data released today by the US Census Bureau. Vermont's spending rose over $1,000 per pupil between 2018 and 2017.

Vermont Business Magazine Senate Appropriations Committee Vice Chairman Patrick Leahy (D-Vermont) and Senate Appropriations Subcommittee On Homeland Security Ranking Member Jon Tester (D-Mont.) Monday released a letter to Federal Emergency Management Agency (FEMA) Administrator Peter Gaynor urging the agency to increase its efforts to deliver food aid to those in need.

Vermont Business Magazine Vermont health officials announced three pop-up testing sites will open this week for COVID-19 specimen collection. A testing site in Colchester collected 138 specimens over the weekend. The pop-up testing sites are for asymptomatic health care workers, first responders (EMS, fire, and law enforcement), and child care providers currently serving essential workers. People who are returning to the state, and who will be at day 7 or later in their quarantine period, can also be tested. These include people returning from wintering out of state, college students, and people who are coming to stay in their second homes.

Vermont Business Magazine FOCUS, a Leonine Public Affairs business, has announced an online 50-state COVID-19 resources website, updated daily and available to the general public.

Vermont Business Magazine Brian Lowe, who helped hundreds of American kestrels successfully hatch and fledge in Vermont, is the winner of the 2019 GMP-Zetterstrom Environmental Award. Lowe was announced as the 2020 winner today rather than receiving the honor in person, in keeping with current COVID-19 physical distancing guidelines. The prestigious award is named for Milton resident Meeri Zetterstrom, who inspired recovery efforts that led to the removal of the osprey from Vermont’s endangered species list, and it is given annually to one person, business, group or non-profit that has made a significant contribution to Vermont’s environment. The award is accompanied by a $2,500 donation to the winner’s environmental cause.

Vermont Business Magazine In the midst of the ongoing COVID-19 pandemic, Saint Michael’s College and its 501 new graduates from the Class of 2020 figuratively marched out of, and into, uncharted territory during an hour-long pre-recorded Virtual Commencement ceremony on Sunday, May 10 -- energized by ebullient and uplifting accompanying live-chat and joined by several thousand graduates, families, faculty and staff online.

Vermont Business Magazine The Vermont Department of Health reported today that since Friday there were eight new cases of COVID-19 for a total of 927 cases statewide. There were no new deaths, which held at 53. There has not been a new death since Thursday's report. Total hospitalized for COVID-19 or under investigation increased by six to 21 total. The number officially recovered is up 40 to 777. The total tested is 20,048.

Vermont Business Magazine On Friday, May 8, the Green Mountain Care Board (GMCB) received and began its review of the proposed 2021 health insurance rates for plans offered to individuals, families and small businesses through Vermont Health Connect. Blue Cross Blue Shield of Vermont (BCBSVT) is requesting an average annual rate increase of 6.3 percent over 2020 rates, while MVP Health Care is requesting a 7.3 percent average annual rate increase.

by Joyce Marcel, Vermont Business Magazine The Age of the Cowboy Entrepreneur may have come to the end of its trail; Paul Millman retired as CEO of Chroma Technology at the end of April. An iconoclast and a socialist, Millman was one of the founders of Chroma in Bellows Falls. He was the company's public face and creator-of-culture from its inception as an employee-owned optical filter start-up 29 years ago to the internationally respected $34.5 million manufacturing powerhouse it is today. He's definitely a cowboy capitalist, although he would prefer the word “pirate.” He'll settle for “oddball.”

Vermont Business Magazine Join the Small Business Administration Vermont District Office and Wendell Davis, SBA New England Regional Administrator, at noon May 12 for a discussion about resources available to small businesses during the Covid-19 pandemic. Topics include funding options, relief programs and technical assistance. Also joining the discussion are members from the Vermont Small Business Development Center, Center for Women and Enterprise Vermont, and SCORE Vermont to explain the assistance they are providing during this time.

Agency of Commerce & Community Development Governor Scott announced Friday that childcare providers may reopen on June 1. Providers can begin bringing back staff and preparing sites on May 18 according to CDC and Department of Health guidelines. Childcare provider supplemental funding will cease but will be replaced by restart grants to assist centers in the costs of preparing to reopen, with details still to come.