Current News

Vermont Business Magazine On Thursday the State of Vermont received a decision from the United States Citizenship and Immigration Services (USCIS) granting the state’s motion for USCIS to reconsider its July 3, 2018 Notice of Termination. That earlier decision terminated the Vermont Regional Center (VRC) and put the immigration status of hundreds of foreign investors in jeopardy. The state filed its motion to reconsider on October 25, 2019 following the denial of its initial administrative appeal. In granting this motion, USCIS reversed its prior decision to terminate the regional center, citing: (1) the State’s implementation of enhanced project oversight; (2) the state’s investigation and subsequent enforcement action against the Jay Peak project developers; and (3) the continued economic benefit the EB-5 projects brought to Vermont despite the Jay Peak fraud.

by Attorney General TJ Donovan As Vermont and our nation continue to work toward a more fair and equitable criminal justice system, the Vermont Legislature is considering an important bill that can provide a fresh start for thousands of Vermonters, promote public safety, and reduce incarceration. S.7 expands Vermonters’ ability to expunge old criminal records. Clearing old criminal records for Vermonters who have served their penalty and remained trouble-free for years is pro-jobs, pro-opportunity, pro-fairness, and plain common sense.

Vermont Business Magazine People's United Financial, Inc has reported results for the first quarter of 2021: Operating Earnings of $0.37 per Common Share; Common Dividend Increase for 28th Consecutive Year; Announced merger with M&T Bank Corporation, which is expected to close in the fourth quarter of 2021; Sustained excellent asset quality as evidenced by net loan charge-offs to average total loans of 12 basis points, and provision for credit losses resulting in a net benefit of $13.6 million.; Maintained strong deposit inflows as period-end balances increased $1.3 billion or three percent linked-quarter; Reached agreement with Stop & Shop on the timing of the exit from all New York in-store branch and ATM locations, which will begin in the third quarter of 2021 with a full exit occurring over four quarters.

Vermont Business Magazine Vail Resorts, Inc (NYSE: MTN) has updated its guidance range for the nine month period ending April 30, 2021. The company now expects net income attributable to Vail Resorts, Inc to be between $258 million and $280 million and Resort Reported EBITDA to be between $636 million and $650 million. Vail is the owner of Stowe, Mount Snow, and Okemo resorts in Vermont.

Vermont Business Magazine As part of Second Gentleman Doug Emhoff’s visit to Burlington Wednesday to learn about vaccination efforts, our friends and partners at the Association of Africans Living in Vermont hosted a performance about vaccines. On stage at the O.N.E. Community Center, AALV case manager and artist KeruBo and a member of the Health Department’s Health Equity Team, Ruth Baldasty, performed the original song “Chanjo” — Swahili for vaccine. After the song, they spoke with Emhoff about the importance of reaching community and helping to address misinformation through music and creative outlets. Emhoff shared his appreciation for this work and how this aligns with the nationwide efforts to expand vaccine access. The VDH is reporting 78 new cases of COVID-19 today and no new deaths, which are holding at 243. Every Vermont adult is now eligible to sign up to get vaccinated.

Vermont Business Magazine Wild leeks, also known as ramps (Allium tricoccum), are a wild edible that many Vermonters enjoy each spring. If you are foraging for them, be careful to not mistake the ramps for a poisonous lookalike plant called false hellebore. The young leaves of American false hellebore (Veratrum viride) are often mistaken for ramps. False hellebore contains poisonous chemicals called alkaloids, and eating false hellebore can make people very sick, enough to hospitalize them.

University of Vermont researchers are partnering with Vermont officials on a new $7-million program that takes a unique approach to protecting watersheds: paying farmers to reduce phosphorus pollution. The pilot program, informed by UVM research, will test a new tool—financial incentives for farm performance—to advance the state’s phosphorus reduction efforts. Until now, the focus has primarily been on inspection, enforcement, and pay-for-practice financial assistance programs.

by Dawn Schneiderman Blue Cross employees are taking the Vaccine Pledge. To support Vermont public health goals, encourage our friends and neighbors to get their COVID vaccinations, and contribute to our overall community health goals, our employee Worksite Wellness Program is donating $100 for each employee who commits to be vaccinated when their group is approved by the state. These donations in the employee’s name will go to their choice of three local community service organizations. Employees have enthusiastically joined the movement, boosting their overall wellness, and supporting our local community organizations.

Vermont Business Magazine Union Bankshares, Inc (NASDAQ - UNB) has announced results for the three months ended March 31, 2021 and declared a regular quarterly cash dividend. Consolidated net income for the first quarter was $2.9 million, or $0.64 per share compared to $2.2 million, or $0.49 cents per share, for the same period in 2020, an increase of $680 thousand, or 30.9 percent. Union Bankshares, headquartered in Morrisville, Vermont, is the bank holding company parent of Union Bank.

Vermont Business Magazine The Vermont Natural Resources Council awarded a Small Grant for Smart Growth to the Cross Vermont Trail Association to further its goal of connecting villages, schools, and conserved natural areas in Central Vermont. CVTA is working to build out a network of trails that serve the upper Winooski Valley, from Montpelier to the Groton State Forest, winding through East Montpelier, Plainfield and Marshfield, providing a way for pedestrians and cyclists to conveniently access the outdoors. The basis of the Cross Vermont Trail lies in an old railbed formerly used by the Montpelier & Wells River Railroad, which for many decades was used as an informal public trail.

Vermont Business Magazine It’s well known that low-income students in urban schools face significant challenges in attending college. But rural students go to college and remain there at even lower rates than their urban counterparts. A new initiative, the North Country Brilliant Pathways Program, aims to address this under-recognized gap for students at 20 elementary, middle and high schools in rural Vermont and northeastern New York by providing them with a multi-faceted, comprehensive college readiness program.

Vermont Business Magazine In recognition of Earth Day, the Vermont Agency of Transportation (AOT) today announced that it has joined the effort to protect the Monarch butterfly by enrolling highway right-of-way lands throughout the state in a voluntary nationwide conversation program. The eastern Monarch population has declined by approximately 77 percent since 1995.