Current News

Vermont Business Magazine If your privately-owned road, driveway, or bridge was damaged or destroyed by Vermont’s storms, flooding, landslides, and mudslides in July 9-11, 2024, FEMA and the U.S. Small Business Administration (SBA) may be able to provide financial assistance for replacement or repairs. If you live in Addison, Caledonia, Chittenden, Essex, Lamoille, Orleans, or Washington counties, FEMA may provide funds to repair disaster-damaged privately-owned access roads, driveways, and bridges. 

by Timothy McQuiston, Vermont Business Magazine Original Clean Energy, a subsidiary of Clean Royalties, a developer and builder of solar energy and storage systems, has acquired Williston, Vermont-based iSun and its companies SunCommon (Waterbury) and Liberty Electric (Salem, NH). iSun was acquired by Houston-based investment firm Siltstone Capital following approval by the bankruptcy court on August 23. Siltstone acquired iSun (now Original Clean Energy) for $10 million. In its last 2023 financial report iSun stated that its estimated annual revenues were nearly $100 million. This acquisition and leadership transition are part of the company's restructuring plan to restore financial stability and pursue growth in the solar energy business across northern New England and New York state.

Vermont Business Magazine Concerts from Guster, Jason Mraz, Train, and Joe Russo’s Almost Dead got cleaner this summer thanks to NOMAD Transportable Power Systems. One of NOMAD’s 1.3 MWh Voyager units rolled in to power the Shelburne Museum concert series outside Burlington, Vermont this summer, replacing diesel generators with stored clean energy and avoiding almost 4,500 pounds of carbon dioxide pollution. According to the EPA’s Greenhouse Gas Equivalencies Calculator, the NOMAD-powered concerts avoided the carbon dioxide equivalent of a passenger car driving 5,115 miles. That’s nearly the same as driving from NOMAD’s headquarters in Vermont, all the way to the site of KORE Power’s KOREPlex in Arizona – and back.

Vermont Businesses for Social Responsibility Join VBSR, Rebuild by Design, and Vermont leaders (including Vermont's Chief Recovery Officer) for this virtual policy forum exploring the history of Vermont’s federal disaster declarations and recovery funding, the economic impact of climate disasters and recovery, and actions Vermont business and policy leaders can take toward a climate resilient economy. This discussion is open to anyone who is interested in building a climate resilient economy in Vermont

Northeastern Vermont Development Association The MERP Implementation Grant application recently went live. Municipalities designated with high/highest energy burden by Efficiency Vermont's 2019 Report are eligible and must apply by Sept 20. Unfortunately, low and moderate energy burden communities are no longer eligible to apply. The state made this decision in late August in order to expedite the awarding of funds to meet ARPA deadlines. We know this is disappointing news and NVDA is working with the other RPCs around the state to develop resources for communities that have been excluded from MERP funding. 

Vermont Business Magazine Union Bankshares, Inc (NASDAQ - UNB) today announced the completion of a balance sheet repositioning related to its investment securities portfolio. The company's wholly owned subsidiary, Union Bank, executed the sale of $38.8 million in book value of its lower-yielding available-for-sale debt securities for an estimated after-tax realized loss of approximately $1.0 million, which will be recorded in the third quarter of 2024. Proceeds from the sale of the securities were redeployed into higher yielding bonds and funding loans that on a combined basis are expected to yield approximately 341 basis points more than the securities that were sold. The company estimates the loss will be recouped within approximately one year.

by Timothy McQuiston, Vermont Business Magazine At his weekly press conference today, Governor Phil Scott provided an update on his visit to Caledonia County on August 27 as part of the Capital for a Day tour. Governor Scott and members of the Administration met with local officials, business owners, law enforcement, public health professionals, and mental health professionals to understand what’s working well and where we need to improve to better serve our rural communities. With him at the presser were Commerce Secretary Lindsay Kurrle and Housing Commissioner Alex Farrell, who both discussed "the dire need for more housing," including mobile homes They stated that more housing across the board would reduce the affordable housing problem, help solve the workforce shortage and ease societal issues, including homelessness.

Vermont Business Magazine Senator Bernie Sanders (I-Vermont), Chairman of the Senate Committee on Health, Education, Labor, and Pensions (HELP), today issued the following statement after the CEO of Steward Health Care, Dr. Ralph de la Torre, refused to appear before the Committee despite a bipartisan subpoena compelling his testimony: "I am disappointed, but not surprised, that Dr. Ralph de la Torre, the CEO of Steward Health Care, who has made hundreds of millions of dollars ripping off patients and health care providers, is refusing to testify in the HELP Committee in defiance of a subpoena. Perhaps more than anyone else in America, Dr. de la Torre is the poster child for the type of outrageous corporate greed that is permeating through our for-profit health care system."

Vermont Business Magazine The Center for Community News at the University of Vermont today announced its third annual cohort of CCN Faculty Champions, a national initiative to support the people running local news reporting programs at U.S. colleges and universities across the country. News-academic partnerships have emerged as a critical contributor to the national news landscape and one solution to the crisis facing local news. “The news coverage that these programs are providing in coordination with their local outlets is helping to meet critical information needs,” said CCN Director Richard Watts. “Most importantly, they offer students a chance to contribute to public life and develop skills that will serve them in journalism and far beyond.”

Vermont Business Magazine Johnson community members are encouraged to participate in the second part of the Re-Imagine Johnson process to discuss and vote for actions generated by the community to address the long term flood recovery in Johnson and review the Community Resilience Assessment outcomes. The meeting will take place on Tuesday, September 10th from 5:00-8:30 pm at the Johnson Elementary School with pizza from the Community Oven and childcare provided. This event is the second step of a three-step process that brings together community members, including those displaced from the July 2023 flooding and impacted in the 2024 flooding, to examine issues, decide top priorities, and develop action plans for the future of their town. During step two, the community will review ideas generated in step one, advocate for what is most important to their community, then select top priorities and sign up to begin moving those priorities forward.

Vermont Outdoor Business Alliance The Business Emergency Gap Assistance Program (BEGAP) application portal is now open to businesses and nonprofits that suffered physical damage from flooding and severe storms in 2023 and/or 2024. $7 million is available to provide rapid relief for physical damage from the 2024 events. An additional $5 million will be available for ongoing recovery from the 2023 floods. Businesses may be eligible for both 2023 and 2024 BEGAP funding. Up to three separate grant applications can be submitted for each year's funding, for each physical location. Businesses have until November 15 to apply to cover 30% of net uncovered damages up to $100,000 per business location. 10% of funds are for Black, Indigenous, and Persons of Color applicants. Submissions will be considered on a rolling basis until all funds are expended. Also, nominations for the Patrick Leahy Trailblazer Legacy Award are being accepted.

Northeastern Vermont Development Association Governor Scott's request for FEMA disaster declaration to assist individuals and communities impacted by flooding from July 9-11, has been approved by the Biden Administration. This provides funding for individuals in Addison, Orleans, Washington, Caledonia, Chittenden, Lamoille and Essex counties to apply to FEMA for assistance. Register at DisasterAssistance.gov or call 1-800-621-3362. The deadline to apply for FEMA's Public Assistance Program for July 9-11 flooding (DR-4810) is Sept 20th. This declaration also includes funding to help cities and towns receive reimbursement for emergency storm repairs to public infrastructure. Town briefings will be scheduled soon.