Current News

Vermont Business Magazine The US Environmental Protection Agency's (EPA) New England Office recently awarded four 2023 Regional Wastewater Treatment Awards to Vermont wastewater treatment plant operators to recognize them for their commitment to improving water quality. The EPA Regional Wastewater Awards Program recognizes personnel in the wastewater field who have provided invaluable public service managing and operating wastewater treatment facilities throughout New England. 

Vermont Business Magazine Nominations are now open for the 2024 Vermont Agricultural Hall of Fame through www.VTAgHallOfFame.org. Nominations will be accepted in three categories: Emerging Leaders, Ag Innovators, and The Lifetime Achievement Award. Nominations will be accepted through Friday, March 8th, 2024, at 5 PM. With over 100 Vermonter’s recognized in the last 22 years, the Vermont Agricultural Hall of Fame is ready to accept YOUR nominations for 2024! All are welcome to submit a quality nomination at a chance to honor Vermont farmers, producers and people dedicated to supporting Vermont’s working landscapes.

Vermont Business Magazine Concepts NREC, based in White River Jct, has acquired RBTS, Inc, a Pennsylvania company renowned for its expertise in rotordynamics engineering and software solutions. This strategic move reinforces Concepts NREC's leadership and position as the most comprehensive turbomachinery solutions provider in the world today. Founded in 1986, Rotor Bearing Technology & Software, Inc. (RBTS) provides engineering services and software for the analysis of rotating machinery dynamics, bearings, bearing systems, and their structural components. Customers of both Concepts NREC and RBTS will experience the immediate benefits of this union, gaining access to an expanded pool of expertise and software capabilities that transcends traditional boundaries and leverages the strengths of both companies. Financial terms were not disclosed.

Vermont Business Magazine On Monday, Senator Peter Welch (D-Vermont), Chair of the Agriculture Subcommittee on Rural Development and Energy, visited with business leaders at the Black River Innovation Campus (BRIC) in Springfield to learn about new programs and progress on the Park Street School renovation project. The project aims to revitalize Springfield’s town center by developing infrastructure to support technological innovation and prepare the coming generations of Vermonters for a modern workforce. 

Vermont Businesses for Social Responsibility Join VBSR and The University of Vermont – Grossman School of Business Sustainable Innovation MBA (SI-MBA) program February 8 as we network and connect while social responsibility experts share their mission-driven projections for the year – for Talent, People and Culture, ESG, Climate Resiliency, Supply Chain, and more. The "2024 Forecast: What Can We Expect for Purpose-Driven Businesses?" panel promises to be a robust way to ground your organization in best practices as the year begins. Also, VBSR, Champion Members Seventh Generation and SunCommon, and VPIRG will host the annual Businesses for Climate Action Lobby Day at the Vermont Statehouse on Thursday, February 1 in Montpelier.

Vermont Business Magazine Champlain College Online (CCO) has announced a new truED Partnership with Lake Champlain Chamber (LCC), Burlington’s nonprofit Chamber focused on economic opportunity for all Vermonters by serving as a resource for the business community. Through this partnership, eligible LCC members and their families, as well as LCC staff, qualify for reduced tuition for more than 80 degree and certificate programs offered 100% online by the regionally accredited college. CCO’s career-focused undergraduate and graduate programs in business, leadership, human resources, IT and cybersecurity are well-matched with the business and entrepreneurially focused members of LCC. Given the organization’s goal of uplifting Vermont’s business and technology economy, there is ample opportunity for cutting-edge CCO courses to expand LLC member knowledge and skills across many business sectors. 

Vermont Business Magazine Governor Phil Scott was joined by Winooski Mayor Kristine Lott and other local and state leaders today to celebrate the overwhelming success of Winooski’s TIF District which has led to more jobs, more housing, and an increase in the grand list and contributions to the state education fund. Public investments have spurred further development by the private sector. Since 2004, the Vermont Student Assistance Corporation (VSAC) and the Community College of Vermont built new buildings within the TIF; the Champlain Mill along the Winooski River was transformed; a former KeyBank that sat empty at the corner of Main Street and West Allen Street is now a thriving brewery and restaurant; and five housing developments were built, adding 438 units of new stock. These projects grew the grand list and increased property value in the city. Winooski’s grand list grew from $25 million in 2004 to $104 million today.

by Timothy McQuiston, Vermont Business Magazine The General Fund, Transportation Fund and Education Fund all exceeded their monthly cash flow targets in December, despite a 12% miss by the Personal Income tax, which came in nearly $13 million below projections. The GF was led by the Corporate Income tax (up $10 million) and the Other category (up nearly $3 million), which includes interest income. Vermont’s GF, Transpo Fund and Ed Fund receipts were a combined $287.7 million, exceeding the $280.9 million monthly consensus target by $6.8 million, or 2.4%. Year-to-date combined receipts are $26.1 million, 1.7%, above their $1.5 billion target. 

Vermont Business Magazine The Northeast Dairy Business & Innovation Center announces the selected recipients of the Dairy Farm Modernization & Improvement Grant.  In its inaugural funding round, 25 farms were selected for awards across seven states, with total program funding of $1,583,331. Ten Vermont farms will receive funding. This grant funds a wide range of projects that prioritize long-term farm viability, climate and economic resilience for dairy farms. The projects selected for funding include incorporating technologies like robotic manure scrapers to improve herd health and comfort, modernizing milking parlors for increased labor and energy efficiencies, and improving forage with sorghum as a climate-smart alternative to corn silage.  

Vermont Business Magazine The Vermont Agency of Education (AOE) Child Nutrition Programs announced the availability of Summer Food Service Program (SFSP) funding. Funds are available, and sponsors are needed to provide meals for children at summer food program sites. The state is specifically seeking sponsors to serve meals in rural areas and areas with a concentration of migrant farm workers. Vermont’s ability to provide these meals depends on local partners willing to serve as sponsors for this program in their communities. This program, also known as Summer Meals, is federally funded by the United States Department of Agriculture (USDA) and administered by AOE Child Nutrition Programs. This program bridges the gap between school years, giving children ages 18 and under the fuel they need to play and grow throughout the summer months and return to school ready to learn.  While much of the funding related to the COVID-19 pandemic has ended, or will end soon, this program is permanent.

Vermont Business Magazine NBT Bancorp Inc (NASDAQ: NBTB), with bank branches in Vermont, has reported net income and diluted earnings per share for the three and twelve months ended December 31, 2023. Net income for the year ended December 31, 2023 was $118.8 million, or $2.65 per diluted common share, compared to $152.0 million, or $3.52 per diluted common share, in the prior year. Operating diluted earnings per share1 was $3.23 for the year ended December 31, 2023, compared to $3.56 in the prior year. On January 22, 2024, the Board of Directors approved a first-quarter cash dividend of $0.32 per share, which represents a $0.02 per quarter, or 6.7%, increase over the dividend paid in the first quarter of 2023. The dividend will be paid on March 15, 2024 to stockholders of record as of March 1, 2024.

Vermont Business Magazine Vermont’s Killington Resort, the largest ski and snowboard resort in Eastern North America and part of POWDR – an adventure lifestyle company – has granted over $300,000 in cash and in-kind charitable donations through its Play Forever commitment in 2023 to support environmental and community-focused nonprofit organizations.   In 2023, Killington & Pico Resorts introduced Play Forever Fridays, where $1 of all tickets sales on Fridays at Killington and Pico Mountain were donated to a selected cause. Each month’s beneficiary was chosen to be in line with local and global events happening that month.