Current News

Vermont Business Magazine As the United States struggles to control record-breaking increases in COVID-19 infections and hospitalizations, the roll-out of two approved vaccines offers tremendous hope for saving lives and curbing the pandemic. To achieve success, however, experts estimate that at least 70 to 90 percent of the population must be inoculated to achieve herd immunity, but how can we ensure folks will voluntarily receive a vaccine?

Vermont Business Magazine Northeastern Vermont Regional Hospital (NVRH) has received the Vermont Prevention Center of Excellence’s Grant. The grant, which totals $450,000, tackles two components of prevention: the promotion of healthy lifestyles and norms that reduce the risks associated with the use of alcohol, tobacco and other drugs and the reduction of the impact of those at higher-than-average risk for substance misuse. This includes individuals currently experiencing problems related to use.

Vermont Business Magazine The Vermont Department of Economic Development announced today that the State of Vermont licensed 38 new captive insurance companies in 2020, Vermont is now home to 589 licensed captives, consisting of 564 active and 25 dormant captive insurance companies. The new captives were licensed in healthcare, real estate, manufacturing, insurance, transportation, technology, construction, and professional services. New and notable companies this year include the University of Southern California, State Street Bank, Saputo, and the Blackstone Group. At least six of Vermont’s new captives in 2020 were formed by companies with international roots — including Canada, Germany (2), Sweden, Dubai, and Australia.

Vermont Business Magazine Union Bankshares, Inc (NASDAQ - UNB) has announced results for the three months and year ended December 31, 2020. Net income was $3.8 million and $12.8 million for the three months and year ended December 31, 2020, resulting in earnings per share of $0.85 and $2.86 for the same periods, respectively. The Board of Directors also declared a cash dividend of $0.33 per share for the quarter, an increase of 3.1% from the cash dividend of $0.32 paid in recent prior quarters, payable February 5, 2021 to shareholders of record as of February 1, 2021.

Vermont Business Magazine VGS President and CEO Neale Lunderville issued the following statement: “VGS praises President Joe Biden on his decision to return to the Paris Climate Agreement, which sets ambitious goals for all countries to dramatically reduce their carbon footprints in the years ahead. At VGS, we will continue to be guided by science. Our nation and our world has experienced an unprecedented health and economic crisis with the COVID-19 pandemic. Although hope is on the horizon with the vaccine rollout, we know another health threat still looms: climate change..."

Vermont Business Magazine Renewable Energy Vermont applauds US Senators Patrick Leahy and Bernie Sanders and Congressman Peter Welch for supporting smart investments in renewable energy that can grow our local economy while addressing the climate crisis. Thanks to their efforts, a federal tax credit is now available to cover 26 percent of the installed price of new residential advanced wood heat systems, making it easier for Vermonters to stay warm this winter.

Vermont Business Magazine The Vermont Agency of Agriculture, Food and Markets has introduced the new Northeast Dairy Business Innovation Center (NE-DBIC), hosted by VAAFM. In 2019, we were selected as one of three Dairy Business Innovation Initiatives in the US by USDA. NE-DBIC provides support to cow, goat, and sheep dairy businesses throughout the Northeast region. Projects promote the development, production, marketing, and distribution of dairy products and will target dairy farms and processors while providing additional support through market research and technical assistance.

Vermont Business Magazine Adult Continuing Education at Burlington Technical College (ACE-BTC) has launched a new program to help individuals without previous experience find jobs in the solar industry. ACE’s “Solar Installation Apprenticeship Program” started in the fall with the mission of offering workforce development programs that graduate highly qualified students to enter the workforce, with all the skills and abilities to succeed.

by Rob Roper Responding to an email inquiry from a concerned citizen about the real impact – and cost -- of the Global Warming Solutions Act, passed last spring over the veto of Governor Phil Scott (R), Representative Scott Campbell (D-St. Johnsbury) admitted, “Let me start by repeating that no one, least of all me, believes Vermont can stop climate change — or even affect climate change. It’s tempting to focus on that narrow issue because of the specific metrics in the law, namely the required greenhouse gas reduction thresholds (leaving aside the unfortunate name of the Act),” and, “GWSA will not ‘mitigate’ climate change…” Thanks for the honesty!

Vermont Business Magazine The Vermont Department of Health today is reporting two more deaths from COVID-19 for a statewide total of 165. There were a total of 124 new cases. Vermont has now vaccinated more than 36,000 people, and 6,575 have received both doses. The Vaccine Dashboard now includes information on the number of doses received.

Vermont Business Magazine Governor Phil Scott has tested negative for COVID-19. As his most recent potential exposure occurred at Tuesday’s briefing, in accordance with Vermont Department of Health guidance, he will continue to fulfill his duties while in quarantine and will be tested again on Tuesday, January 26.

by Timothy McQuiston, Vermont Business Magazine Led by the personal income and corporate taxes, all three revenue funds substantially exceeded their projections for the month of December 2020 and all three are now ahead of their annual targets. Meanwhile, the Emergency Board on Wednesday upgraded its forecast for FY21 and FY22, which had been downgraded last August because of the pandemic-caused economic downturn. The State’s General Fund, Transportation Fund, and Education Fund receipts were a combined $54.33 million, or 30.6% above consensus expectations.