Current News

During the last quarter of 2010, the Vermont Economic Development Authority (VEDA) approved $52.6 million in financing assistance to Vermont businesses undertaking development and expansion projects throughout the state.
‘Development projects in many different sectors of Vermont’s economy will receive financing support from VEDA,’ said VEDA Chief Executive Officer Jo Bradley. ‘Business investments will be made in Vermont’s commercial, manufacturing, agricultural, technology, energy, and small business sectors, translating into jobs being created or retained for Vermonters.’

The United States has an abysmal international ranking in Internet broadband connectivity speeds and Vermont is even worse. While the US is 25th in the world in average connection speeds, Vermont ranks only 45th in the US. Rural areas here and across the country predictably fare worse than urban and suburban regions.
The fourth annual speedmatters.org survey reveals an extensive ‘Digital Speed Divide.’ The survey is conducted on behalf of the Communication Workers of America. The trade union represents 700,000 workers in communications, media, airlines, manufacturing, and public service.

Governor-elect Peter Shumlin announced today that Beth Pearce will be Vermont’s next State Treasurer. Beth is currently Vermont’s Deputy Treasurer and will assume the role of State Treasurer in January when Jeb Spaulding becomes the Secretary of Administration.
‘No one in Vermont is more qualified than Beth Pearce to succeed Jeb Spaulding as our state's Treasurer,’ said Shumlin. "Beth's many years of experience in the Treasurer’s office, her enthusiasm for the job, and her passion for the state’s fiscal stability will serve Vermonters well.’
Beth joined the Office of the Vermont State Treasurer on June 30, 2003, as Deputy Treasurer. In this capacity, she has been responsible for a full range of operations including retirement administration of three state-wide systems (State, Teacher and Municipal), unclaimed property, accounting, budget, debt and capital financing, cash management, investment of short term funds in State custody and risk management.

Rochester, NY ‘ December 20, 2010 ‘ MVP Health Care today announced that it is now offering Preferred Gold, its nationally top-ranked Medicare Advantage health plans* for employer group retirees throughout Vermont.

The MVP Medicare Advantage plans are the only plans of their kind being offered statewide and offer members a number of health and wellness benefits:
Free fitness center memberships through the Silver Sneakers Fitness Program
$100 Health Dollars towards a variety of health, wellness or fitness classes or programs
Assistance with paying for eyewear and hearing aids
Part D Prescription Coverage
24/7 Nurse Advice Line for after-hours assistance
No deductibles

A new report by the website 24/7 Wall St ranks Vermont as the greenest state in American, Governor Jim Douglas announced today. The report considered energy consumption, pollution problems and state energy policies in evaluating the environmental standing of states.
‘This most recent report reaffirms the Green Mountain State’s reputation as the greenest state in America,’ said Governor Douglas. ‘Our strong record of environmental stewardship includes the nation’s smallest carbon footprint and the greenest energy portfolio. I’ve fought for tougher automobile emissions standards and against threats to our state’s air quality, and was the first Governor to sign onto the Regional Greenhouse Gas Initiative (RGGI). All Vermonters can be proud of our state’s deep commitment to a healthy environment.’

Vermont gained the second most construction-related jobs in November, but still ranks only 45th in the nation over the last year. Construction employment expanded in 20 states between October and November, while the list of states with year-over-year construction job gains grew to 13 states plus the District of Columbia, the Associated General Contractors of America reported in an analysis of state employment data released today by the Labor Department. The new figures continue a year-long pattern of mixed results in construction employment as overall demand remains weak, association officials noted.
‘It is encouraging that the number of states adding jobs year-over-year was higher in November than at any time since February 2008,’ said Ken Simonson, the association’s chief economist. ‘However, the data also make clear that these gains are as spotty as they are tenuous.’

James Dwinell interviewed Governor James Douglas on December 1st in his Pavilion office overlooking the State House.
VBM: As a native of Springfield, Massachusetts, what brought you to Vermont?
Jim Douglas promised to be accessible to the people when he was first running for governor. He has famously lived up to that promise, and seems to have remembered everyone's name along the way. Here he speaks before the official grand opening of Sugarbush's $10 million addition on December 10. To his left is Sugarbush CEO Win Smith. Behind him is a specially commissioned painting by Woody Jackson.
Douglas: I had some teachers in high school who were alumni and they knew that I was interested in foreign languages and encouraged me to apply. Middlebury College is a school that is and was renowned for its foreign language departments. I do not regret the choice.

VBM: Did you meet your wife (Dorothy) while you were a student?

Colchester, VT--(Marketwire - December 17, 2010) - Highlighted Links

Green Mountain Power

Green Mountain Power will help to keep the heat on this winter for Vermont households in crisis through its $82,000 contribution to the WARMTH Support Program.

"Many elderly and disabled Vermonters and households with young children are making hard choices as they try to meet their basic needs this winter. We want to be sure that we are doing all we can to help reduce the burden on the most vulnerable members of our community," said Mary Powell, Green Mountain Power president and chief executive officer. "We encourage anyone in a position to do so to join us in protecting our friends and neighbors who may be struggling to stay warm."

In a rare weekend session, the Senate Saturday unanimously approved legislation to increase the number of frequencies available for Low Power FM (LPFM) radio stations, providing an outlet for hyper-local, independent noncommercial broadcasting. Senator Patrick Leahy (D-Vt.) has been a proponent of the legislation in each of the last three Congresses.
‘By using low power stations, community groups can access underutilized spectrum and provide content tailored to smaller communities,’ said Leahy. ‘This legislation is important because LPFM stations provide opportunities for local organizations to serve local communities. Vermont has LPFM stations serving local communities in Vermont from Hyde Park to Brattleboro to Warren. There is room for more.’

Montpelier, VT-The Department of Labor announced the state-allowed deductions for employer-provided meals and lodging allowance will be increasing on January 1, 2011. An employer shall be entitled to deduct from the wages earned, an allowance for meals and lodging actually furnished and accepted. The original allowances and the increased rates are as follows:

Breakfast $2.75 daily
Lunch $3.08 daily
Dinner $3.43 daily
Full Board $9.26 daily or $64.83 per week

Nightly Lodging $3.77 daily
Full Room $22.68 weekly
Full room and Board $78.33 per week

POULTNEY, VT, Dec. 17, 2010 /PRNewswire-USNewswire/ -- Nineteen Green Mountain College students in assistant environmental studies professor Lucas Brown's design & build course unveiled a semester-long project Monday: a "tiny house" of their own design. The 8-foot by 12-foot house was built almost entirely from reclaimed materials and cost only $1,927 to build. The final cost was just a few dollars over the class budget, funded by a $100 per student course fee.

"The $20 per square foot cost is pretty low compared to the $80-$200 per square foot cost of new construction," said senior Todd Sirak of Poultney.
The class expects to recoup its investment by selling the house in the spring. By then, the moveable structure will be equipped with a solar-powered electrical system. Another design & build course next semester, which will be taught by GMC alumnus Khanti Munro of Solar Energy International, will focus on photovoltaics.

Vermont had the lowest foreclosure activity in the nation in November, with 10 foreclosures at a rate of only 1 for every 31,262 units. North Dakota was a very distant second with 49 foreclosures for a rate of 1 in 6,395. New Hampshire had 561 foreclosures for a rate of 1 in 1,064.
RealtyTrac (www.realtytrac.com), the leading online marketplace for foreclosure properties, has released its US Foreclosure Market Report for November 2010, which shows foreclosure filings ‘ default notices, scheduled auctions and bank repossessions ‘ were reported on 262,339 US properties in November, a 21 percent decrease from the previous month and a 14 percent decrease from November 2009. One in every 492 U.S. housing units received a foreclosure filing during the month.