Current News

Vermont Business Magazine Senator Bernie Sanders (I-Vermont), Sen. Peter Welch (D-Vermont), and Rep. Becca Balint (D-Vermont) today announced several important provisions in the Water Resources Development Act of 2024 (WRDA) to help Vermont repair and maintain its flood control infrastructure and build resiliency against the global crisis of climate change. The bipartisan legislation passed the Senate last night and now goes to the President’s desk to be signed into law. First passed in 1938, the Water Resources and Development Act authorizes the Army Corps of Engineers to help manage and strengthen the nation’s water resources. This includes working with communities across the country on projects to reduce flood and storm damage and restore aquatic ecosystems. In Vermont, the Army Corps designed the Waterbury, East Barre, and Wrightsville dams in the 1930s after the devastating 1927 flood caused massive destruction and loss of life.

Vermont Business Magazine The Vermont Department of Labor has announced an increase to the State’s minimum wage. Beginning January 1, 2025, the State’s minimum wage will increase from $13.67 to $14.01 per hour - an increase of $0.34. This annual adjustment also impacts the minimum wage for tipped employees. The “Basic Tipped Wage Rate” for service, or “tipped employees,” equals 50% of the full minimum wage. On January 1, 2025, the tipped minimum wage will increase from $6.84 to $7.01 per hour.  The state’s tipped minimum wage law allows employers to pay a lower hourly rate, as long as the employee receives tips equal to, or greater than, the standard minimum wage during a given shift.

Vermont Business Magazine The Community College of Vermont (CCV) and the Vermont Department of Corrections (DOC) are expanding the Corrections Post-Secondary Education Initiative (CPSEI) partnership, which delivers free college courses to DOC staff and Vermonters who are incarcerated. Beginning on January 1st, 2025, re-entry vouchers will be available to any Vermonter ending a carceral sentence or continuing their education upon release. Benefits will extend for a full year after release, and students will be eligible for two class vouchers per semester. 

Vermont Business Magazine Average gasoline prices in Vermont are $3.11 per gallon, unchanged from last week, up 1 cent/g from last month and down 23 cents/g from last year. The lowest price in the state this was $2.69/g while the highest was $3.35/g, a difference of 66.0 cents per gallon. The lowest prices in the state continue to be in Bennington ($2.99) and Windham ($2.98) counties, with prices rising as you go north, according to AAA. Essex County has the highest average at $3.34/g. The national average price of gasoline has risen 2 cents per gallon in the last week, averaging $3.04/g today.

Vermont Business Magazine KeyBank announces the list of charitable sponsorships and KeyBank Foundation grants made in 2024 to numerous nonprofit organizations in Vermont.  The gifts and grants focus support to address homelessness, food insecurity, financial literacy, preventative healthcare and more. KeyBank Foundation grants total $275,000 in commitments and are part of the bank’s philanthropic and strategic investments targeted toward education, workforce development, and safe, vital neighborhoods. An additional $34,000 in charitable donations were made to local nonprofit partners in alignment with the bank’s community support efforts. 

Vermont Business Magazine The Northern Forest Center, the nonprofit organization redeveloping the historic building at 560 Railroad Street, is just $143,000 away from raising the $5.9 million needed to transform the building into a cornerstone of the St. Johnsbury community. The project will create nine much-needed apartments for middle-income workers and two revitalized commercial spaces, including a storefront for a new business, Three Rivers Bikes and Boards and an artist-in-residence studio for Catamount Arts. The project takes an innovative approach to addressing the pressing need for quality housing for workers and families in the region. 

by Vermont Natural Resources Council Executive Director Lauren Hierl As 2024 draws to a close, I resolve to start the new year with both optimism and determination to protect the things we care about. At the heart of Vermont's identity lies our shared connection to the natural world. We love the beauty and bounty of our state. We also know that a healthy environment is essential to a healthy economy. Our state relies on its brand of a clean and protected environment to attract residents, visitors, and businesses. But I am wary of a false choice: that we must choose between an affordable Vermont and a clean and healthy Vermont. Protecting our environment and health saves our state money and helps our local economies by protecting Vermont’s greatest assets - our clean air, water, land, and vibrant communities. 

by James Rea, UVM The Leahy Institute for Rural Partnerships at the University of Vermont has announced nearly $2.4M in grants to fuel partnerships between UVM and organizations throughout Vermont with the goal of addressing pressing challenges in our state. More than 20 UVM research programs will participate in these projects, which will influence the work of over 40 public, private, and nonprofit organizations in Vermont. The initial activities of the funded projects will span the state, taking place in communities in the Hero Islands, the Northeast Kingdom, Brattleboro, the White River Valley, and many points in between. 

Vermont Business Magazine As McDonald’s and Ronald McDonald House Charities (RMHC) celebrate the 50th anniversary of the nonprofit and their enduring partnership, New England McDonald’s Owner Operators are excited to announce their customers have helped raise $1.26M for the organization year-to-date by rounding up their purchases at restaurants across the region, with $144,200 of that coming directly from Vermont restaurants. Here in Vermont, the funds are used to provide a supportive home away from home for families while their children are receiving life-saving medical treatment at the University of Vermont Children’s Hospital. The money raised this year equates to 1,442 nights free of charge, saving families over $350,000 in travel expenses, meals and accommodations. 

Vermont Business Magazine Students at UVM’s College of Engineering and Mathematical Sciences (CEMS) will soon benefit from a new scholarship program established by GlobalFoundries (GF). As part of GF’s ongoing commitment to developing workforce talent in semiconductor design and manufacturing in the region, the GlobalFoundries Scholarship will support students enrolled in undergraduate degree programs in physics, or electrical, mechanical, biomedical, or environmental engineering. In the program’s initial year, GF will support three undergraduate students with scholarships of $10,000 each, and the scholarships are combined with a paid summer internship opportunity at GF. The scholarship will support up to six new and returning scholars in successive years. The program is designed to incentivize students to join the semiconductor industry.

Vermont Business Magazine MENTOR Vermont announced today the recipients of the 2024-2025 Vermont Mentoring Grants, the only mentoring-specific funding available to youth mentoring programs throughout the state. This year, MENTOR Vermont awarded 20 grants, totaling $620,000, which will support more than 1,750 youth in communities across Vermont. MENTOR Vermont recognizes that young people are natural dreamers, but not all youth are given the same access and opportunities to achieve those dreams. A caring and committed mentor can help a young person ignite their curiosities, solidify their passions, and leverage their talents.

Vermont Business Magazine Saint Michael’s College’s new financial aid initiative fortifies the Colchester-based college’s mission of making its deeply engaging, student-centered education more affordable. The “St. Mike’s Community Commitment” simplifies the financial aid process, making a Saint Michael’s education more accessible to students from every socioeconomic background. Families will also more easily be able to estimate the financial aspects of attendance. The St. Mike’s Community Commitment aligns with our institution’s mission and the Edmundite value of access to education, which has been a priority since our founding,” said Saint Michael’s College President Richard Plumb, Ph.D. “This initiative enables talented students from all backgrounds to obtain a first-rate education. By reducing ambiguity around the cost of attendance for their families, we are empowering more students to set ambitious goals.”