Current News

Vermont Business Magazine Revenue collections for the month of October 2019 released today support a trend in which personal income taxes remain relatively strong, corporate taxes are unpredictable, and the Transportation Fund continues to underperform because of low gasoline receipts and sluggish car sales. Meanwhile, the stalwart rooms & meals taxes, which supported the state’s revenue stream for many years when personal income did not, is not keeping up, despite coming off the fall foliage season. R&M largely reflects tourism activity. The expectations for the R&M have been high because of its strength over the last few years. Despite slipping recently, it is still ahead of year-to-year targets. The sales and use tax, which had been missing targets for several years, is ahead of expectations. This could be because of the state capturing more and more taxes from online sales.

Vermont Business Magazine The US Senate Thursday night passed legislation written and introduced by Senator Patrick Leahy (D-Vermont) and Senator John Cornyn (R-TX) to formally charter a National Cybersecurity Preparedness Consortium (NCPC), which includes Norwich University.
Norwich University is a key player in NCPC, a cooperative effort of universities with expertise in cybersecurity that work with the Department of Homeland Security (DHS) to develop and carry out training and other activities focused on preparedness among state and local governments and first responders for cyber emergencies. The consortium was privately organized to work annually with DHS to fulfill their mission, with Norwich as a founding member, and the new law will allow DHS and NCPC to work together to develop multi-year plans for improving cyber readiness.

Vermont Business Magazine Gardener’s Supply Company, the Burlington, VT-based purveyor of great garden gear, is acquiring a fourth garden center, this time in Hadley, MA. Hadley Garden Center has been supplying gardeners and landscapers with quality products and unparalleled customer service in western Massachusetts for 56 years. The owners are now retiring. In addition to a robust catalog and e-commerce business, Gardener’s Supply Company already has three garden centers located in Burlington and Williston, VT, and in Lebanon, NH.

Vermont Business Magazine Weekly unemployment rose last week to near 700. After a long period of very low numbers, claims have noticeably increased. They are also breaking a trend by being higher than claims from the same time last year. Meanwhile, the upcoming holidays typically bring with them wild swings in claims, as retailers hire and then fire seasonal workers. Initial claims for the week of November 16, 2019, were 693, up 57 from last week and 64 more than they were at this time last year. Altogether 3,400 new and continuing claims were filed, an increase of 392 from a week ago, and 90 more than a year ago.

Vermont Business Magazine Governor Phil Scott and the Public Service Department today announced the winners of the first round of grant funding through the state’s new Broadband Innovation Grant Program. The grants will support three feasibility studies and subsequent business plans for the deployment of broadband in rural, unserved and underserved areas of Vermont. CVFiber will receive $60,000. Newbury REDInet District will receive $34,000. Windham Regional Commission (WRC) will receive $60,000.

Vermont Business Magazine For the third consecutive year, the University of Vermont Grossman School of Business’ Sustainable Innovation MBA has been named the No. 1 “Best Green MBA” program by the Princeton Review. By being recognized as the top “Green MBA” for 2018, 2019 and 2020, the continued ranking success underscores that, while the program retains the foundational business school toolkit required for graduates to succeed in business, its complete redesign five years ago prepares and equips the next generation of business leaders to transform existing businesses and create new enterprises that address critical issues facing the planet.

Vermont Business Magazine Casella Waste Systems, Inc (NASDAQ: CWST), a regional solid waste, recycling and resource management services company, has priced the previously announced remarketing of $25.0 million aggregate principal amount of New York State Environmental Facilities Corporation Solid Waste Disposal Revenue Bonds Series 2014. Pursuant to the indenture under which the Bonds were issued, the interest rate period under which the Bonds were previously issued is expiring on December 1, 2019, and accordingly, the Bonds will be remarketed on December 2, 2019 at the new interest rate of 2.875% per annum for the new interest rate period ending on December 2, 2029.

by Joyce Marcel, Vermont Business Magazine The City of Burlington is defined by its waterfront, and its waterfront is defined by the work of Melinda Moulton. Moulton has restored, built or rebuilt some of the waterfront’s most iconic structures, including a stunning restoration of the 1916 Union Station at the foot of Main Street. All the while, she has been proving that you can do well by doing good — really. However, life sometimes circles ‘round and bites you on the butt. Long an outspoken champion of commuter rail, Moulton is now fighting the railroads to preserve her legacy. Moulton, 69, is the CEO and co-founder of Main Street Landing, which is owned by her business partner and co-founder, Elizabeth “Lisa” Steele.

by C.B. Hall, Vermont Business Magazine The controversy over the overnight storage of an Amtrak train due to begin serving Burlington in 2021 heated up at a November 19 public meeting of the City Council's Transportation, Energy and Utilities Committee (TEUC). Speakers directed their ire over the plans primarily at the Vermont Rail System (VRS), for its insistence on construction of a second track, or siding, to accommodate the train at Burlington Union Station, its destination in the Queen City.

Vermont Business Magazine For over 20 years the Bowse Health Trust (BHT) has awarded grant funds to collaborative community programs which measurably improve the health of Rutland County residents. This year the committee has approved funding for three innovative projects over the next three years. To date, the BHT has funded a total of 66 programs many of which are still operating. Rutland County Early Head Start, the Castleton Early Childhood and Special Education Initiative, and the Caregiver Support Program will receive BHT funding starting in 2020. The projects were selected because of a critical need for these services within the community. 

Vermont Business Magazine ARC Mechanical, an HVAC contractor, recently received over $14,000 in grant funding from the Vermont Training Program (VTP). With this grant funding, ARC Mechanical will focus on employee training in areas of plumbing, HVAC, gas training and sheet metal fabrication. Training will be done through professional development and apprenticeship programs at Vermont Technical College, New Hampshire School of Mechanical Trades, Mitsubishi Electric, and Granite State Trade School. 

Vermont Business Magazine Governor Phil Scott today announced the appointment of Heather Pelham as the commissioner of the Department of Tourism and Marketing. Pelham has served as the deputy commissioner of the Department since March 2019 and prior to that served as the state’s chief marketing officer for four years.

Pelham will now lead the team responsible for promoting Vermont as a top tourism destination and attracting 13 million visitors each year who contribute $2.8 billion in spending to the state.

Heather Pelham, Commissioner of the Department of Tourism and Marketing