Current News

Vermont Business Magazine The Federal Nuclear Waste Policy Committee of the Vermont Nuclear Decommissioning Citizens Advisory Panel (VT NDCAP) will hold its next regular meeting on Monday, October 21, 2024, from 12:00 noon to 1:00 PM.  A hybrid format will be used for this meeting.  In accordance with Vermont Open Meeting Law, the Governor Hunt House in Vernon is the available physical location for those wishing to attend this meeting in-person.

Vermont Business Magazine Following an exhilarating weekend of innovation and collaboration, a multi-disciplinary team of talented Norwich University students secured 2nd place at the Rowdy Datathon, an NSA sponsored Data Science Design Challenge. The competition was held at University of Texas San Antonio, October 5-6, 2024. Competing against eight teams, the Norwich team showcased their skills to land second in the intermediate division. The Rowdy Datathon is an annual, weekend-long event that challenges participants to solve complex data science problems. It brings together students from various disciplines to foster teamwork and innovation in a fast-paced, high-pressure environment. Participants are judged on creativity, technical execution, and the potential impact of their solutions. 

Vermont Business Magazine M&T Bank (NYSE:MTB) approved 1,832 7(a) program U.S. Small Business Administration (SBA) loans in the past year and finished the SBA's 2024 fiscal year as the 10th-largest lender in the country. This marked the 16th consecutive year M&T Bank has ranked among the nation's top 10 SBA lenders. M&T has branches across Vermont. M&T Bank approved 1,832 SBA 7(a) loans for a total of $207.8 million in fiscal year 2024, which ended September 30, 2024. The average size of the bank's SBA loans in 2024 was $113,432.

Vermont Business Magazine Senators Bernie Sanders (I-Vermont) and Pater Welch (D-Vermont) on Thursday issued the following statements on the death of Yahya Sinwar, leader of Hamas. "Hamas leader Yahya Sinwar, a war criminal who masterminded the brutal October 7th terrorist attack that killed 1,200 innocent people and took 250 hostages, is now dead. There is now no justification for Prime Minister Netanyahu and his extremist government to continue their all-out war against the Palestinian people, which has killed 42,000 Palestinians and injured 100,000 – two-thirds of whom are women, children, and the elderly."

Vermont Business Magazine The U.S. Small Business Administration (SBA) announced today that it has extended the deadline in Vermont to apply for disaster loan assistance for physical damages. Survivors in declared counties now have until Nov. 25, to apply for federal disaster loans for physical damages due to severe storms, flooding, landslides and mudslides that occurred July 9 – 11. On October 15, 2024, it was announced that funds for the Disaster Loan Program have been fully expended. While no new loans can be issued until Congress appropriates additional funding, we remain committed to supporting disaster survivors. Applications will continue to be accepted and processed to ensure individuals and businesses are prepared to receive assistance once funding becomes available.

Vermont Business Magazine The Curtis Fund, a supporting organization of the Vermont Community Foundation that provides educational scholarships, has appointed Lauren Philie as executive director. Philie comes to The Curtis Fund from Vermont State University, where she served as the assistant vice president of institutional advancement and alumni relations. Philie brings over thirty years of fundraising experience to The Curtis Fund, twelve of those in higher education, as well as leadership skills in community engagement.

Vermont Business Magazine Average gasoline prices in Vermont are $3.18 per gallon, down 1 cent per gallon from last week, down 8 cents/g from last month and down 50 cents/g from last year. The county with the lowest price in the state is Bennington with an average price of $3.03/g while the highest was Essex County at $3.32/g, as the price of gasoline was generally lower the farther south you went in Vermont. The national average price of gasoline has fallen 3 cents per gallon in the last week, averaging $3.17/g today.

Vermont Business Magazine Union Bankshares, Inc. (NASDAQ - UNB) has announced results for the three and nine months ended September 30, 2024, and declared a regular quarterly cash dividend. Consolidated net income for the three months ended September 30, 2024, was $1.3 million, or $0.29 per share, compared to $2.5 million, or $0.56 per share, for the same period in 2023, and $5.8 million, or $1.27 per share, for the nine months ended September 30, 2024, compared to $8.2 million, or $1.82 per share for the same period in 2023. The decrease in earnings for the comparison periods was primarily due to the impact of the previously announced strategic balance sheet repositioning executed during the third quarter. 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 a pre-tax realized loss of $1.3 million, which was recorded in the third quarter of 2024.

Vermont Business Magazine Governor Phil Scott and members of his cabinet will be in Chittenden County on Thursday, October 24 for its Capital for a Day 14-county tour. Governor Scott first launched this initiative in June 2018, and he and his cabinet visited all 14 counties over the following 10 months. Capital 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 As winter approaches, the Department of Environmental Conservation (DEC) wants to remind construction professionals and property owners about additional requirements to help protect the state’s waterways during the winter construction season. Proper measures that reduce erosion and keep soil contained on construction sites are crucial, especially during the winter months. “Managing construction sites to protect water quality is a year-round challenge,” said DEC Commissioner Jason Batchelder. “During the winter, rainfall, thaws, and snowmelt can yield substantial flows of water over frozen and saturated grounds. This greatly increases the potential for erosion and sediment flow into our waterways.” 

Vermont Business Magazine The Brattleboro Retreat, a leading provider of mental health services in Vermont, has released its 2024 Annual Report. The report highlights the Retreat’s ongoing commitment to compassionate care, its resilience in the face of healthcare challenges, and a renewed focus on services for Vermont’s youth and underserved populations.  One of the most significant announcements in the report is the revitalization of the Retreat's adolescent residential treatment services. The Retreat has proposed the reopening of its adolescent residential program as a Psychiatric Residential Treatment Facility (PRTF) for youth aged 12-18, providing intensive, around-the-clock care for adolescents facing mental health challenges. 

Vermont Business Magazine With the fall ahead, shoreland residents are getting ready to close their camps for the season. The Vermont Department of Environmental Conservation (DEC) is urging residents to either remove their docks from the water or, if ice damage is not a concern, to let them freeze in place. DEC also recommends forgoing aeration devices (that are designed to prevent ice buildup around your dock) to help protect Vermont lakes and public safety. If you are planning to install an aeration device like a bubbler, ice eater, or de-icer near your dock, you will need to apply for a Lake Encroachment Permit. Bubblers and other aerators attach to docks and circulate air in the water. They are intended to reduce ice, aquatic plants, or sediment. However, adding an aerator into a public lake or pond can impact the lake's environmental health.