Current News

by Timothy McQuiston, Vermont Business Magazine The Emergency Board met Tuesday to hear and accept the tax revenue projections presented by Jeff Carr of Economic & Police Resources of Williston and Tom Kavet, Kavet, Rockler & Associates, LLC of Townshend. Revenues are expected to continue their blistering pace, which includes impressive returns for the personal income tax, benefits from changes in some sources and the recent and likely short-lived windfall from the interest income, which in this report is the fourth largest revenue source. The economics told the E-Board that their consensus revenue report includes $50 million in new revenues from tax and fee changes will increase revenue expectations across all three funds by about $198 million in FY25 and $179 million in FY26 relative to the prior January forecasts.

by Timothy McQuiston, Vermont Business Magazine Gambling on sports only became legal in Vermont in January. So, the data is only for the last half of fiscal year 2024 (January-June). With no history to draw from, state officials projected that revenues to the state would be about $1.2 million for the first six months. Revenues came in at $3.5 million. The total handle was $101.1 million from 232,884 users. Basketball boasted the largest share (39.8%) with $40.2 million.

Vermont Business Magazine Vermont Businesses for Social Responsibility (VBSR), the statewide, nonprofit business association advancing a just, thriving, and transformative economy that works for all people and the planet, has launched the second cohort of ClimateReadyVT, a free program helping small businesses in Vermont adapt to our changing climate and prepare for climate-related business disruptions. ClimateReadyVT is accepting applications for the Fall 2024 Cohort through Friday, August 23. The cohort will convene starting in early September.

Vermont Business Magazine The Fletcher Free Library is excited to announce that three government grants will support preservation work to protect and preserve its historic 1904 Carnegie Building. A $500,000 grant from Save America’s Treasures, in tandem with grants from the National Endowment for the Humanities and the State Historic Preservation Office, will enable preservation work to begin in 2025. The Save America’s Treasures grant is awarded through the Historic Preservation Fund, as administered by the National Park Service, Department of Interior. These grants will receive matching funds from the City of Burlington.

Vermont Business Magazine The Vermont Retail & Grocers Association (VRGA) announced today a significant leadership transition as the current President, Erin Sigrist, will step down effective October 1. During Sigrist’s tenure, VRGA has experienced remarkable changes, including guiding the retail industry through the COVID-19 pandemic, advocating successfully on various issues within the state house, modernizing office operations, increasing fundraising, and streamlining communications. Her leadership has been instrumental in representing the interests of Vermont’s retail and grocery sectors. Ed Fox has joined the association and will begin the leadership transition immediately. 

Vermont Business Magazine Grassroots groups on the front lines of flood relief will gather at the State House Thursday morning to share demands for state-level action towards a just recovery. Speakers will address the relationship between flooding impacts and ongoing climate and housing crises, and present the People’s Demands for a Just Recovery from Flooding, and signed by organizations across Vermont.

Vermont Business Magazine Grassroots groups on the front lines of flood relief will gather to share demands for state-level action towards a just recovery. Speakers will address the relationship between flooding impacts and ongoing climate and housing crises, and present the People’s Demands for a Just Recovery from Flooding, available here and signed by organizations across Vermont. Grassroots organizations and community mutual aid groups are the first to mobilize when disaster strikes—drawing on relationships, local knowledge, and that combination of grit and care that makes us Vermonters. In a time of ever-unfolding disaster, we recognize the need to balance short term needs and long term transformation.

Vermont Business Magazine Vermont Mutual Insurance Group, based in Montpelier and one of the oldest property and casualty insurers in the United States, recently announced that it has eclipsed the $5 million mark in donations through their Charitable Giving Fund (the “Fund”). Vermont Mutual established the Fund back in 2014 with the expressed mission to enhance the quality of life in communities where the Group conducts business by providing financial support to community organizations.

Agency of Commerce and Community Development Today is another tough day in Vermont, with the Northeast Kingdom facing the aftermath of yet another major flooding event. We are here to help as best we can with the ongoing recovery in communities across Vermont. As part of this effort, we are requesting that victims of both of the July flooding events complete the Department of Economic Development's Flood Damage Survey for Businesses. This will further aid the relief and recovery response as we seek to capture the type and scale of the flood-related damage businesses suffered in communities throughout the state.

Agency of Commerce and Community Development The US National Weather Service states, "Isolated strong thunderstorms and embedded downpours could result in more flooding and localized strong to damaging wind gusts this afternoon into evening. Parts of Caledonia County and the Northeast Kingdom in Vermont received 6-8 inches of rain last night and saw considerable/catastrophic flash flooding. If thunderstorms travel over the same areas that had heavy rainfall and flooding last night, more flash flooding is possible."

Vermont Business Magazine Mascoma Community Development (MCD) has announced the closing of $15 million in New Markets Tax Credit (NMTC) allocation to finance the construction of a new peanut shelling facility in Santee, South Carolina. The funding will allow Premium Peanut, LLC to build a facility that improves the supply chain for its peanut grower-owners and creates quality jobs while conducting near-zero waste operations, as every part of the peanut is utilized.

by Timothy McQuiston, Vermont Business Magazine For the week ending July 20, the Vermont Department of Health reported that there has been a spike in outbreaks at Long-Term Care Facilities, but there have been no COVID-19 related death since mid-June. COVID fatalities remain at 1,157 since the beginning of the pandemic over four years ago. The weekly report also shows that hospitalizations and general "syndromic" cases remain low but have increased somewhat in the last few weeks to over five people being treated at a Vermont hospital each week. Also, the number of COVID cases is elevated and has more than tripled in the last month, with a weekly total now of 146. The pandemic death total stands at 1,157 as of July 20, 2024.