Current News

by Timothy McQuiston, Vermont Business Magazine Several important economic recovery loan and grant programs, with both federal and state funding, are approaching deadlines. But those and some ongoing programs still have money available. The most pressing grant program is the state sole proprietor program whose final application deadline is Thursday at midnight and whose funding will likely be exhausted. Other programs like the SBA's EIDL and Paycheck Protection Program (PPP) are still open for new applications and still have money available. The state's own Economic Recovery Grants programs also have funds available.

Economic Development Commissioner John Goldstein told VBM Tuesday that while the US SBA EIDL grant/advances are no longer available, the loan portion of the program is still open. Small businesses typically can get up to $150,000 in the form of a low interest loan with payments not beginning for 12 months.

Vermont Business Magazine The Vermont Department of Health today reported three new cases of COVID-19 for 1,405 total statewide. There is one person hospitalized. Deaths have been holding at 56 since mid-June. Given this continuing good health news, Governor Scott announced that schools will reopen on September 8. Health Commissioner Dr. Mark Levine. “When I weigh the health risks against the educational, developmental, social and emotional risks for young children, I come to the same conclusion as the pediatricians and education experts: now is the right time for Vermont to re-start in-person learning.”

Vermont Business Magazine At a press conference Tuesday in Montpelier, Governor Phil Scott addressed school reopening and announced he will issue an Executive Order to set Tuesday, September 8, as the universal start date for student instruction. This action gives schools an additional one to two weeks to prepare staff and test the systems they’ve built over the summer to provide the best possible start for students when they return. The local school districts are charged with setting the manner of education. This could entail full in-person education, a hybrid system that would include part-time at school along with distance learning, or full distance learning. Guidelines for sports will not be ready until August.

Vermont Business Magazine As COVID-19 infections continue to surge across America and nearly 30 states impose public mask-wearing requirements, Sen. Bernie Sanders (I-Vt.) and over three dozen of his Democratic colleagues in the Senate and House introduced lifesaving legislation today to manufacture and distribute high-quality, reusable masks to everyone in America.

Vermont Business Magazine The annual Rabies Bait Drop, a week-long, cooperative effort between the State of Vermont and US Department of Agriculture (USDA) Wildlife Services to stop the spread of the rabies, starts on August 1. Rabies vaccine — in the form of a sweet-smelling oral bait that is attractive to raccoons and skunks — will be dropped in rural areas of Vermont from low-flying aircraft and placed by hand in residential centers. Approximately 450,000 quarter-sized blister packs containing rabies vaccine will be distributed in nearly 100 Vermont communities across nine counties. A switch allows pilots to control where the baits fall, in order to avoid roadways, homes and other places where people are most likely to be.

Vermont Business Magazine Gardening for Health is an introductory gardening, nutrition and health education program created to cultivate patient and community health. The program connects concepts of physical activity, healthy eating and confidence building over an eight week period. Participants engage in workshops both at home and in a shared garden space at the Rooftop Garden at UVM Medical Center’s Main Campus. This pilot program is made possible through funding from The University of Vermont Medical Center Foundation.

Vermont Business Magazine NBT Bancorp Inc (NASDAQ: NBTB) on Monday reported net income and diluted earnings per share for both the three and six months ended June 30, 2020. Net income for the three months ended June 30, 2020 was $24.7 million, or $0.56 per diluted common share. NBT Bank has branches in Northwestern Vermont. Net income was up $14.3 million from the previous quarter primarily due to lower loan loss provision and lower noninterest expense and down $5.8 million from the second quarter of 2019 primarily due to higher provision for loan losses related to the deterioration of economic conditions caused by the COVID-19 pandemic. Excluding real estate repositioning charges of $0.7 million, net income and earnings per diluted share were $25.2 million and $0.57, respectively.

ACEDC Applications for Economic Recovery Grants for Vermont small businesses are still being accepted and funds remain available. If you are a business with at least one non-owner W-2 employee that suffered a 50% or greater loss in any one month period, and you meet other eligibility criteria, you should apply. Deadlines for some grant programs are fast approaching.

Senator Patrick Leahy (D-Vermont) MONDAY, July 27, 2020 Since Democrats united around the Heroes Act, and it passed the House on May 15, President Trump and Republican Leadership opted for a “wait-and-see” approach, because they did not feel a “sense of urgency.” Well they waited, and the American people have seen the results of their delay. In that time, confirmed cases in the United States have more than doubled and 56,000 more Americans are now dead.

Vermont Business Magazine OneCare Vermont has partnered with statewide health organizations to launch an online learning system for Vermonters and health care providers. Vermont Health Learn (VTHL) was developed in collaboration with the Vermont Department of Health and the Vermont Blueprint for Health within the Department of Vermont Health Access.

Vermont Business Magazine Schools in Vermont support the academic, social and developmental needs of children, help address food insecurity, and provide mental health services. The American Academy of Pediatrics Vermont Chapter said in a statement that in weighing the health risks of reopening schools in fall 2020 against the educational and developmental risks of limiting in-person instruction, school districts should prioritize full-time, in person attendance for all students preschool through grade 5 and students of all ages with special needs.

by John McClaughry In this election season almost every candidate is promising to deliver “more affordable health care!” Most of them are at least subconsciously thinking “I’ll support legislation to have the government compel somebody else to pay more of your health care costs. That ‘somebody else’ includes, variously, the taxpayers, your employer, others in your insurance pool, and the providers themselves.”