Current News

For the Week of 09/26/2009. There were 760 new regular benefit claims for Unemployment Insurance last week, a decrease of 20 from the week before. Altogether 9,384 new and continuing claims were filed, 304 fewer than a week ago and 3,645 more than a year earlier. The Department also processed 4,595 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), 22 more than a week ago. In addition, there were 923 Second Tier claims for benefits processed under the EUC08 program, which is an increase of 54 from the week before. The Unemployment Weekly Report can be found at: http://www.vtlmi.info/. Previously released Unemployment Weekly Reports and other UI reports can be found at: http://www.vtlmi.info/lmipub.htm#uc

Senate and House negotiators have agreed to provide $350 million for hard-pressed dairy farmers, Sens. Bernie Sanders (I-Vt.) and Patrick Leahy (D-Vt.) announced today. The funding was first included in a Senator Bernie Sanders (I-VT) amendment to the Department of Agriculture appropriations bill.
Sanders welcomed the agreement that he said “came at a time when Vermont's dairy farmers are struggling hard to stay in business with record-low milk prices.” He added that “this is a good step forward but we need to do much more if we are to preserve family based dairy agriculture in Vermont and America.” Leahy, a senior member of the Senate Appropriations Committee which handled the Senate’s work on the bill, said he hopes the aid will “offer relief to Vermont’s dairy farmers and small businesses that are struggling to stay afloat,” and also pledged to seek additional relief.

From 2006 to 2008, Vermont households lost an average of $5,757 in income, the second worst in the nation and the largest percentage decrease at 10.3 percent. New Jersey had the highest income drop at $7,214 and the second highest percentage loss at 10.1 percent. Georgia was third worst ($3,404, -6.4 percent). The biggest factor appears to be in investment income as the stock market fell precipitously from its high in October 2007 through the end of 2008 and beyond. On October 12, 2007 when the Dow Jones average closed at a record 14,903 to October 10, 2008, when it closed 8,451, is the worst one-year performance since the Great Depression. Vermont counts on "unearned" income more than most states when calculating household income. This would seem to indicate that when 2009 numbers come out in about a year, Vermont should see a marked improvement as the Dow now stands at 9,789 (9.29.2009).

The inventor of the world's first seat video and imaging apparatus, CruiseCam International, Inc. (Pink Sheets: CCMC), impressed companies that manage the largest fleets in North America, which attended the annual Vermont Captive Insurance Association (VCIA) conference last month. Companies use captive insurance as an alternative to traditional insurance to reduce costs, enhance risk management, gain greater control over their insurance and directly access the reinsurance market. The VCIA conferees recognized the liability advantages of CruiseCam's fully operational commercial vehicle seat with its latest generation Gemini near High Definition Digital Video Recording System compared to windshield camera systems.

Northern Power Systems, Inc (www.northernpower.com), based in Barre, Vermont, a next-generation wind turbine company and manufacturer of the Northwind 100, today has announced its expanded presence in Europe. To strengthen its commitment and better support its customers, Northern Power Systems has appointed Reinout Oussoren as European Managing Director and has opened its European headquarters in Zurich, Switzerland.
Mr. Oussoren brings more than 20 years of commercial and operational leadership experience to Northern Power, most recently with GE
Energy. He will manage strategy, business development, sales, applications engineering and a growing network of premier development partners.

In ceremonies including the Board of Trustees, Saint Michael's College will dedicate the $2 million Antonio and Rita Pomerleau Alumni Center on Saturday, Oct. 3, at 12:30 p.m. in the new center, located on Route 15, but entered from Lime Kiln Road, in Colchester. The multi-use building is the first deliberately environmentally friendly, 21st Century structure on the Saint Michael’s campus. Made possible through the generosity of The Tony B. and Rita M. Pomerleau Foundation and over 1,000 alumni contributions, the Alumni Center is a multi-use facility housing alumni and development offices and public meeting spaces.
“This building will be a tangible way to keep our alumni close to the college,” said President John J. Neuhauser.

The Associated General Contractors of Vermont (AGC/VT) named Cathy Voyer of Morrisville to lead the 150 member organization today. A former member of the Vermont House of Representatives, Voyer has worked for Governor Douglas in the Agency of Human Services managing legislative, housing and transportation issues. Voyer's experience both in the State House and with partner organizations throughout the state will be valuable to contractors as they face the twin challenges declining building cycle and increased federal stimulus funds.
"Cathy Voyer brings leadership, experience and energy to AGC which is exactly what is needed for contractors in Vermont during this economic cycle," said Don Wells, President of DEW Construction and Chair of the Board of Directors of AGC/VT.

The Vermont Downtown Development Board today announced that the City of Montpelier has been awarded Growth Center Designation. In action taken Monday by the Vermont Downtown Development Board, the designation comes after several months of discussion between Montpelier, the Downtown Board and its advisory group. Growth Centers were enabled by the legislature in 2005 to encourage communities to plan for denser and mixed use development in areas surrounding the state s downtowns and village centers.
I am very pleased that Montpelier has received this designation, which will help support the City in its planning efforts, Governor Jim Douglas. This is why I signed the Growth Center bill, to encourage communities to create more compact and dense mixed use development in appropriate areas.

Congressman Peter Welch on Tuesday introduced legislation to protect dairy farmers by closing a trade loophole that allows for the unlimited importation of a form of dried milk product. Welch s bill, the Milk Import Tariff Equity Act, will update existing trade regulations to include milk protein concentrate (MPC) and treat it like all other imported dairy products. In the past decade, MPC imports have more than doubled, undermining the market for domestic powdered milk and driving down the price Vermont s dairy farmers are paid for their milk.
As international dairy producers have flooded the American market with milk protein concentrate, Vermont s dairy farmers have paid the price. By circumventing trade agreements, these producers have contributed to the plummeting price of milk and caused many Vermont farmers to go out of business, Welch said. This legislation will simply level the playing field and ensure that all dairy producers play by the same rules.

Foliage is reaching peak color this week in sections of the Northeast Kingdom and Lamoille County, and most areas of the state will be displaying multiple stages of colorful foliage over the next several days. State foresters say most sections of Essex, Orleans, Caledonia and Lamoille counties in northeastern and north central Vermont are showing vibrant fall colors that are near or at peak.
“At this point we are now seeing – and will see this weekend – peak colors in many areas of the Northeast Kingdom and Lamoille County,” said Orleans and Lamoille County Forester Raymond Toolan. “Good color will be found on pretty much any road from Stowe to Quebec.”
With cooler temperatures in the forecast, the foliage progression will continue to accelerate around Vermont over the next several days. Higher elevations across the state offer excellent opportunities for foliage viewing, and the hillsides are showing brilliant shades of red, orange and yellow.

US Senator Patrick Leahy and the Preservation Trust of Vermont announced that five historic downtown buildings will receive federal funds to help spur village redevelopment. Historic buildings in Putney, Readsboro, Poultney, Richmond and Shoreham will get restoration work using a $425,000 federal grant Leahy secured for the Preservation Trust of Vermont s Village Revitalization Initiative.
These historic buildings are at the very heart of the identity and economy of our communities, said Leahy. These grants do more than ensure the stability and aesthetics of a building, they also open these buildings to the public and help to keep our villages healthy.

Vermont State Colleges, Community Capital of Vermont, Inc., and Central Vermont Economic Development Corporation (CVEDC) representatives celebrated with community leaders and small businesses at the Shops at Millstone Hill in Websterville (Barre Town), VT, today. Rhonda Shippee, Acting State Director for USDA Rural Development along with Congressional Representatives, presented each recipient with a ceremonial check to celebrate the 2009 Rural Business Grant Enterprise and Opportunity Grant awards totaling $422,725.
These grants will spur business growth and strengthen existing businesses throughout most of the state. said Shippee. The business development services these organizations will provide to over 100 small businesses will help create and sustain jobs, which is critical as we strive towards economic recovery.