Current News

Vermont Business Magazine Vermont State Treasurer Beth Pearce and Governor Phil Scott issued the following statement after Fitch Ratings, Inc. announced their decision on the State’s bond rating.

“Fitch Ratings has downgraded the general obligation credit rating of the State of Vermont from AAA to AA+ with a stable outlook, its second highest rating. This outcome is not unexpected, and while it is not the outcome we’d aimed for, Fitch’s report also noted many positives. Those include the State’s continued strong financial management, sound reserves, the leveling of Medicaid spending, and modest steps taken towards reducing our pension liabilities, including a path to prefunding for our state employee and teacher other post-employment benefits (OPEB).

Vermont Business Magazine Vermont is the 14^th best state to retire, according to a new Bankrate.com report. The study examined 11 public and private datasets related to the life of a retiree, comprised into five categories (weightings in parentheses): affordability (40%), wellness (25%), weather (15%), culture (15%) and crime (5%). While Vermont finished 1^st in wellness, tied with North Dakota for 1^st in crime and checked in with a 3^rd for culture, it did not fare so well in weather (7^th worst) and affordability (9^th worst), according to Bankrate.

The top 5 states to retire are: Nebraska, Iowa, Missouri, South Dakota and Florida.

The 5 worst states to retire are: Maryland, New York, Alaska, Illinois and Washington.

Vermont Business Magazine Renewable Energy Vermont (REV) joined Governor Phil Scott at today’s press conference on vehicle electrification and offered the following statement.

“Recognizing the need for lower cost and carbon free transportation solutions, the Governor smartly proposed the State’s first incentive for electric vehicles and continued investments in necessary public charging stations.  As one of the only states in New England without a statewide customer incentive for EVs, Vermont needed this to get back on track.

The low carbon transportation investments being made by the state today to help more Vermonters access electric vehicles result in saving Vermonters more than $4 million.  For every $1 invested in EV incentives Vermonters save more than $3 on gas, car maintenance, and health bills.  The monetary savings for Vermonters in gas over 15 years would be an estimated $9,375,000.

Vermont Business Magazine On Thursday, July 18, the Office of Advocacy of the Small Business Administration will host a roundtable in Burlington, Vt., at Hilton Burlington – 60 Battery Street. The event will be from 9:00 a.m. to 12:30 p.m. Eastern Daylight Time. The purpose of this event is to gain valuable insight into which specific federal regulatory burdens present the biggest barriers to small business growth.

Vermont Business Magazine Meredith Corporation's (NYSE: MDP) Travel + Leisure has announced the World's Best Awards 2019, revealing the top travel destinations and companies in the US and around the globe. The Rabbit Hill Inn in Lower Waterford, Vermont, was rated the Best Resort Hotel in the Northeast. Results of this 24th annual readers' survey, in which discerning Travel + Leisure readers rated their experiences, are now featured on www.TravelandLeisure.com/worlds-best and span over 90 category lists, including worldwide rankings.

Vermont Business Magazine In June, Stone Environmental accepted an Engineering Excellence Merit Award from the American Council of Engineering Companies of Vermont (ACEC-VT) for an innovative green stormwater infrastructure design and implementation project for the Oak Street drainage area in St. Johnsbury, Vermont.

. . . Senators Demand To Know Whether Family Separations Will Occur During Upcoming Immigration Raids

Senate Appropriations Committee Vice Chairman Patrick Leahy (D-Vt.), joined by fellow Appropriators Senator Dianne Feinstein (D-Calif.) and Senator Richard Durbin (D-Ill.) – who also serve as the Ranking Member of the Judiciary Committee and Ranking Member of the Judiciary Subcommittee on Border Security and Immigration, respectively – Thursday sent an urgent letter to the Department of Homeland Security and Immigration and Customs Enforcement requesting confirmation whether family separations have been approved as part of the upcoming ICE raids. 

Vermont Business Magazine Governor Phil Scott today detailed efforts to increase electric vehicle use in Vermont as part of the state’s emissions reduction goals.

“Electrifying the transportation sector will help clean the air and keep millions of dollars within our economy,” said Governor Scott. “While more work needs to be done, Vermont has taken strong steps toward a renewable transportation sector. Accelerating vehicle electrification will continue to be a priority of my Administration.”

Funding is now available for organizations and projects in Bennington, North Bennington, Pownal, Shaftsbury, and Woodford through the Opportunity Fund for Southshire Youth at the Vermont Community Foundation. The fund awards grants up to $4,000 for creative and effective initiatives that support, educate, and empower Bennington area youth, particularly low-income and disadvantaged youth, to be engaged and successful in school, work, community, and life. Nonprofits, schools, and grassroots organizations with a fiscal sponsor are encouraged to apply. Applications will be accepted through 5:00 p.m. September 5, 2019.

by Timothy McQuiston, Vermont Business Magazine Winooski-based BioTek Instruments Inc, will be acquired by Agilent Technologies of Santa Clara, CA, for $1.165 billion, or a whopping seven times annual revenues. BioTek CEO Briar Alpert made the announcement this morning. The deal between BioTek, a life-science tool and software firm, and Agilent (AJ-i-lent), with whom they’ve partnered, will close during the fourth quarter of this year.

Vermont Business Magazine Bullrock Solar, The UVM Health Network Porter Medical Center and The University of Vermont Medical Center announced that through a collaborative effort and a renewable initiative, The UVMHN Porter Medical Center will be the beneficary of an 800-kilowatt solar field developed and constructed by Bullrock Solar and located in Addison, VT. Outgoing UVMHN Porter Medical Center President, Dr. Fred Kniffin has led this initiative to reduce the environment footprint of the hospital. This project represents a significant step toward achieving that environmental goal, additionally it is anticipated that the electrical savings from the solar array will be greater than $650,000 over the next 25 years.

Vermont Business Magazine In June, the Vermont Youth Conservation Corps (VYCC)’s was honored by the Woodstock community with the Annette Compton Fiertz Award. The award recognizes outstanding contributions by individuals or organizations that advance the Woodstock Trails Partnership goals of trail stewardship, outreach and education, volunteerism, and partnership development that supports and enhances the Woodstock trail network.