Current News

by Brandon Arcari, Vermont Business Magazine The farm families of St. Albans Cooperative Creamery voted to approve a merger with Dairy Farmers of America (DFA) July 29. The vote, with 108 of the 307 voting members casting a vote, was 99-9 in favor of the merger.

Vermont Business Magazine Job growth in the United States is a hot topic right now as unemployment is the lowest it’s been since the 50’s. The US unemployment rate is 3.7 percent, while Vermont, with the nation's lowest, stands at a historic 2.1 percent (June, seasonally adjusted). Monthly jobs reports are causing stock market fluctuations as well. There are many variables that go into that report, such as the types of jobs, the industries, and the expected term (seasonal vs full-time). In Vermont, Substance Abuse, Behavior Disorder, and Mental Health Counselors represent the fastest growing occupation, with a 160 percent increase over the last 10 years.

Vermont Business Magazine Governor Phil Scott and members of his cabinet will be in Windsor County on Tuesday, July 30 to kick off a new round of the 14-county tour, Capitol for a Day. Governor Scott launched the tour in June 2017, and he and his cabinet visited all 14 counties over the following  10 months. The group is now relaunching the initiative and will revisit each county over the next several months.

“While we have a small state, each region has its own unique character, offerings and people, which is why it’s so important to get out and meet people where they are,” said Governor Scott. “These visits have proven to be invaluable as we work to expand economic growth to every corner of the state.”

Capitol for a Day gives local constituents, municipal government leaders and other partners the opportunity to connect directly with state leadership and staff.

Vermont Business Magazine The Vermont Agency of Education (AOE) announced today that William Bates has been appointed to the position of Chief Financial Officer for the Agency of Education effective August 5.

by Rebecca Holcombe According to VTDigger, “The former education secretary relies on a memo and State Board Meeting in which Scott’s education secretary describes his vision for a statewide voucher program — in both cases with a clearly stated caveat that his proposal is meant to provoke further conversation.” I will accept the governor’s characterization, but will continue to sharply criticize this “vision” for education, which the governor and his team have advocated for years now.

Vermont Business Magazine GMP requests 2.92 percent annual rate increase over three years; Vermont ski industry back over 4 million skier visits; Vermont maple syrup production up 7 percent; Scott signs $6.1 billion FY20 budget; DMV will soon issue new driver’s licenses and ID cards; Champlain College President Donald Laackman steps down; College of St Joseph to chart a new path forward; and more.

Vermont Business Magazine Vermont State Parks has announced a partnership with Local Motion, Inc to provide bike rentals at Burton Island State Park. New for the 2019 season, a fleet of rental bicycles will be provided for park visitors to use while visiting the island.

Vermont Business Magazine Ledyard Financial Group, Inc (ticker symbol LFGP), the holding company for Ledyard National Bank with a branch in Norwich, Vermont, has reported record quarterly and year-to-date earnings through June 30, 2019. Net income for the quarter ended June 30, 2019, was $1,563,045 or $0.50 per share compared to $1,341,896 or $0.43 per share for the same period in 2018, an increase of $221,149 or 16.5%. Net income for the six months ended June 30, 2019, was $2,870,804 or $0.91 per share compared to $2,549,200 or $0.82 per share for the same period in 2018, an increase of $321,604 or 12.6%. Strength in the Company’s core businesses and the ability to control operating expenses are the primary contributing factors to these record results.

Vermont Business Magazine Weekly unemployment numbers fell dramatically last week. Summer usually brings low claim levels, but sub-300 claims indicates very low volume. Initial claims for the week of July 20, 2019, totaled 262, down 122 from last week. Claims were 42 fewer than they were at this time last year. Altogether 3,479 new and continuing claims were filed, a decrease of 389 from a week ago, and 6 more than a year ago.

Vermont Business Magazine State Treasurer Beth Pearce today announced a new agreement with the Vermont Community Loan Fund (VCLF) to invest up to $1.5 million to support local investment in Vermont communities, increasing VCLF’s capacity to offer flexible financing so businesses and organizations can grow their missions and stimulate economic activity across the state.

“All Vermonters benefit when we invest dollars in our local communities,” said Treasurer Pearce. “We are thrilled to increase by 50 percent the capacity we provide VCLF. These dollars will move into the hands of local businesses and community organizations, where they will create jobs throughout the state. We look forward to continuing our partnership with VCLF to invest in entrepreneurs and community leaders who spur economic opportunities for Vermonters.”

Vermont State Police, July 25, 2019 Shmuel Rabinowitz was located and escorted out of the woods uninjured.  The Vermont State Police Search and Rescue Team were assisted by Killington Search and Rescue, Killington Fire Department, Killington Police Department, New England K9 Search and Rescue, Upper Valley Wilderness Response Team, Vermont Fish and Wildlife, Vermont Air National Guard, US Forest Service and the Green Mountain Club.

Vermont Business Magazine The Vermont Agency of Transportation (AOT) has detected contaminated soil at the construction site of the replacement drawbridge between Grand Isle and North Hero. The Agency suspected the presence of lead around the bridge from previous paint systems, and recent testing yielded positive results for some lead as well as polychlorinated biphenyls (PCBs).