Current News

Vermont Business Magazine This weekly report is a list of planned construction activities that will affect traffic on state highways and interstates throughout Vermont for the week of October 10, 2024. Please remember to drive safely in all work zones. Lives depend on it.  

by Jules Older It’s time again for your SOHO — small office, home office — gear guide. But before you dig in, three things you might want to know: Whenever a company offers to send me a product to test, I always reply, “Let me Mirandize you. I try never to write about a product I haven't tested. When I like it, I say so. When I don't, I say so.” This time, with one exception, I've bought and paid for all the products. And this time, whenever I was able to try similar products, I've turned it into a competition — the fight is on!

Vermont Business Magazine This informative online workshop October 8 will identify and describe capital sources for your business, including debt, loans, and equity. Attendees will gain a high-level understanding of the business lifecycle and capital available to businesses at different stages of the lifecycle. We'll also discuss strategies to make your business bankable or equity-ready, as well as how to bootstrap your business if capital is not immediately available.

Vermont Center for Emerging Technology Jeff’s journey began by printing T-shirts, and now, his company works with household brands like Dunkin’, Saucony, and Pepsico. Jeff is the co-founder of Select Design, a creative agency that conquers brand chaos. At just 22, he and his co-founder Kevin were hustling to sell apparel, relying on every connection they could make. His story is about having people in your corner that root for you, and how Vermont is the perfect place to find it. This is the perfect listen for someone wanting to start a business in VT but doesn’t know where to start.

by Noah Diedrich, Community News Service Spectators mingled amid camp chairs and canopies as they gathered at Chimney Point last weekend, primed for views of the Adirondacks across Lake Champlain from the state historic site. Suddenly a light fwoosh and a dull thunk punctured the serene afternoon as one giant arrow, then another, punched into a black-and-white target affixed to the side of a bale of hay. Husband and wife Stephen Gatesy and Maryann Davis, emeriti professors at two New England colleges in paleontology and clinical psychiatry, respectively, walked toward the target to retrieve their arrows. A man with a clipboard showed them their scores. 

Vermont Business Magazine Free and open to all, Vermont Independent Media, publisher of The Commons celebrates its 20th anniversary on Sunday, October 6 from 4-6:30 p.m. at the Retreat Farm, North Barn to honor and thank the community that has been integral to its success. The party promises to be a joyous occasion filled with music, community spirit, and a few surprises. For the first time, Vermont Independent Media will present two special awards – The Community Partner Award which will be presented to a business to honor and recognize their commitment and vital role in successful collaboration that brings a community closer together. The second award will honor a community member whose generosity in supporting nonprofits and special projects has made a lasting difference.

VermontBiz U.S. Senator Peter Welch (D-Vt.), Chair of the Senate Agriculture Subcommittee on Rural Development and Energy, celebrated the U.S. Department of Agriculture’s (USDA) announcement of more than $2.1 million to Vermont to support renewable energy projects and help lower energy costs for rural farmers and small businesses. USDA’s investment in Vermont through the Rural Energy for America Program (REAP) will create over $2 million in annual value of energy generation by funding the installation of new roof-mounted solar panels and retrofitting buildings to capture heat waste. The projects will increase the amount of energy generated by 93,499,773 kilowatt hours (kWh)— enough to power over 8,500 homes. 

Vermont Business Magazine University of Vermont Medical Center is temporarily pausing construction of its planned outpatient surgical center. This decision comes as the hospital works to meet the obligations of Green Mountain Care Board orders that significantly reduce its budget for the new fiscal year, which began this month. These budget reductions are due in part to further budget reductions imposed by the Green Mountain Care Board related to increased patient demand for care that exceeded approved limits on the amount of care we provided last year. While planning related to the project may continue, active construction will be paused until next year at the earliest. UVMMC said in a statement that this decision is an early step of a difficult, but necessary process to reduce our budget, which will impact our ability to deliver the care patients need.

Vermont Business Magazine Vermont small business owners and entrepreneurs have access to a new round of funding to expand their international reach. The Vermont Department of Economic Development (DED) has been awarded a $249,000 grant from the U.S. Small Business Administration’s State Trade Expansion Program (STEP), and the new award period is underway. STEP funding provides financial assistance to small businesses, helping them overcome challenges in entering and expanding into global markets. These grants can cover costs associated with trade missions, website optimization, international marketing, and participation in trade shows. Eligible businesses may be reimbursed for up to 75% of approved expenses. 

Vermont State Police Jordan Lawyer has been located and taken into custody. The incident occurred Friday morning, Oct. 4, 2024, in Enosburgh that left one person dead and a second hospitalized. The incident began at about 8:45 when the Vermont State Police received a call reporting a disturbance at a home on West Enosburgh Road, also known as Route 108, near Tyler Branch Road. Responding personnel located one individual deceased outside the home. A second person was taken by ambulance to the hospital for treatment.

Vermont Business Magazine For the fifth consecutive year, the University of Vermont (UVM) has achieved a new record for research funding: attracting $266 million in extramural support for the 2023 fiscal year. More than doubling the university’s annual research funding of five years ago, UVM faculty members garnered nearly 700 research awards to launch over 1,000 new projects confronting head-on some of society’s most pressing issues, from climate change to public health, supported by government agencies, corporate partners, foundations and donors.

by Timothy McQuiston, Vermont Business Magazine Weekly unemployment claims fell slightly last week to a very low level and their lowest levels since September 2023. For the week ending September 28, 2024, new claims were 181, which is down 19 claims from the week before and 43 fewer from last year. Meanwhile, unemployment claims and hiring have rebounded strongly across the US, as the Federal Reserve Bank cut interest rates by a robust 0.5% (50 basis points). Economists suggest the positive numbers suggest that the economy will indeed negotiate a "soft landing" and avoid a recession. Recent national and international events, however, could alter that outcome. For the week, total unemployment insurance claims were 1,746 for the week (down 26 for the week and down 306 from this time last year). Meanwhile, the state unemployment rate remains second lowest in the nation even as it rose one-tenth in August, as unemployment grew modestly (2.2 percent in August 2024).