Current News

by Timothy McQuiston, Vermont Business Magazine The Vermont House today fast-tracked a $93 million Coronavirus Emergency Economic Recovery Grants package and sent it to Governor Phil Scott for his signature. The money is targeted for those businesses most impacted by the COVID-19 pandemic and the resultant economic impact. The Vermont unemployment rate is at a record 15.6 percent. However, Scott and his administration are "frustrated" with the package that cuts his $310 million proposal by more than two-thirds and adds restrictions in how it is dispersed.

The House bill provides:

• $50 million of Coronavirus Emergency Economic Recovery Grants distributed to businesses by the Department of Taxes and Agency of Commerce and Community Development.

by Timothy McQuiston, Vermont Business Magazine Initial unemployment claims increased last week for the first time since their peak in early April. At that point, Governor Scott's "Stay Home" order resulted in the closing of schools, restaurants, construction and more, while other businesses cut back operations. As the governor continued to open up the economy, the weekly unemployment insurance claims had fallen until last week.

by Dr Jonathan Spiro, Interim President of Castleton University I am pleased to announce Castleton University’s intention to resume face-to-face instruction this fall. As you know, the COVID-19 pandemic is expected to extend through the year, and the arrival of students on campus will likely require a number of safety measures. Nevertheless, I am excited for students to return in August, and our faculty and staff are working hard to ensure we can provide them with the best possible experience.

Vermont Business Magazine School immunization data released by the Vermont Department of Health shows that over 95% of Vermont students from kindergarten to 12th grade have all their required vaccines. According to Health Department data, 77% of schools — representing 89% of Vermont students — meet the 95% immunization rate needed for community immunity against measles. Ninety-five schools had a MMR (Measles, Mumps and Rubella) vaccination rate of less than the 95% immunization rate.

Buyers and Sellers need to be prepared for fast-paced market

Vermont Business Magazine The real estate market in northwest Vermont is recovering after the necessary shut down due to Covid-19. The stay at home order went into effect on March 25^th with restricted showings beginning again in late April.

New listings in April declined 45% and pending contracts declined nearly 50%. As a result, a steep decline in closed sales followed in May. Real estate transactions typically take 45-60 days to close – therefore the restricted activity in late March and April is seen in May numbers. Although new listings in May declined over the same period last year, it is an improvement over April. And June appears on par with 2019 numbers.

Vermont Business Magazine Vermont Technical College is embarking on an exciting collaborative process to assist in the development of a plan to transform its agriculture and food systems educational programming. The nine-month re-visioning and transformational process, led by a volunteer steering committee, will develop a business plan for the operations and delivery of experiential education.

Vermont Business Magazine Governor Phil Scott and the Agency of Transportation (AOT) today announced the Federal Transit Administration (FTA) has awarded federal funds to Vermont for the purchase of electric public transit vehicles through the Low or No Emission Program. The FTA will provide $793,420, which will cover 80% of the cost of four vehicles, bringing Vermont’s total number of electric public transit vehicles to 12. Green Mountain Express in Bennington and Rural Community Transportation in Lyndonville will each receive two vehicles. AOT will use the funds to purchase four "cutaway" vehicles, which are smaller than standard city buses and similar to large vans.

Vermont Business Magazine Vermont State Treasurer Beth Pearce today announced twenty K-6 students who were selected as contest winners for their completion of the Treasurer’s Reading is an Investment financial education program. Despite the onset of COVID-19 and school disruptions, Vermont teachers worked closely with the Treasurer’s Office to ensure more than 4,500 students completed Reading is an Investment this academic year.

Vermont Attorney General TJ Donovan As the Vermont Senate considers criminal justice reform measures, the Senate Government Operations Committee has compiled a list of potential measures to consider. My office is expected to testify on these measures tomorrow in the Committee. We will testify that it is time for Vermont to act.

Vermont Business Magazine The Health Department continues to work with Winooski and Burlington city officials and community partners to test residents and trace contacts in an effort to contain the COVID-19 outbreak. As of Wednesday evening, a total of 78 cases are associated with the outbreak. About 80% of cases are in Winooski. Most of the rest are in nearby Burlington, with a small number elsewhere in Chittenden County. There have been no deaths associated with the outbreak. Overall statewide, there were 16 new cases for 1,110 total, only three hospitalized and deaths are holding at 55, which they have been for two weeks.

Vermont Business Magazine High percentages of Vermonters agree with the social distancing measures put in place by the state in response to the coronavirus pandemic and have complied with them, according to a new survey. But their attitudes and actions, while protecting their health, have come at a significant economic cost, especially for low income Vermonters, one of several ways in which poorer Vermonters have been disproportionately affected by the pandemic.

Vermont Business Magazine Northern Vermont University will begin the fall semester on Tuesday, August 18, one week earlier than planned, and end early with residential students returning home for Thanksgiving break and remote exams to complete the semester. This change to the academic calendar will best position NVU and its students, employees, and communities—in the event of an increase in COVID-19 cases or another wave in the fall.