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Public Asset Institute The labor market continued its strong streak, as unemployment fell another notch in March, to 2.3 percent. But the trend is different for women 45 to 54 years old, who were less likely to be working in 2018 than five years earlier. Preliminary data from the Bureau of Labor Statistics showed that 77.5 percent of women ages 45 to 54—often a worker’s highest-earning years—were on the job last year, the lowest rate in 20 years. Meanwhile, women 25 to 34 years old were more likely to be working.

Vermont Business Magazine Steve Gagner, owner and founder of 14th Star Brewing Company in St Albans is being recognized by the US Small Business Administration for employment growth, financial success, expansion and community involvement. One month after reaching a historic low, Vermont's unemployment rate fell again to a record low 2.4 percent in February, according to the Vermont Department of Labor report, tied for lowest in the nation. General Fund tax revenues fell below expectations for February and are now behind targets for the fiscal year. The vital personal income tax, after a strong January, was off by -11.25 percent, or -$3.02 million. A whopping increase in the corporate tax was undermined by a poor month in the insurance premium tax. February marks the eighth month of Fiscal Year 2019. The City of Burlington has closed on the transfer of Burlington Telecom to Schurz Communications, marking the final step in the resolution of the city’s years-long financial crisis. AND MORE...

Vermont Business Magazine Over the past several years, Southwestern Vermont Health Care (SVHC) has trained hundreds of people to become licensed nursing assistants (LNA). Many have gone on to rewarding careers in the health system’s skilled nursing facilities or in the hospital’s inpatient units.

Vermont Business Magazine In a just-released survey, young professionals in the Burlington area defied stereotypes and said they want to stay in Vermont and even buy a single-family home. In both cases, however, circumstances and opportunity are limiting their opportunities. Completed by 500 young professionals in the region between January and March of this year, the State of the Greater Burlington Young Professional Community Survey covered housing, employment, and civic engagement topics as a means to understand what young professionals want and need to continue to live and work in the greater Burlington area.

Vermont Business Magazine After a slight drop last week, unemployment claims increased last week. They've been bouncing up and down this spring. Claims for the week of April 13, 2019, rose from a relatively average level of 519 to 698 last week. Weekly unemployment claims were also 73 higher than they were at this time last year.

Vermont Business Magazine Today, the Vermont Department of Labor released the March 2019 unemployment rate, which shows that it has dropped to 2.3 percent, a historic low and again tied for the lowest rate in the nation. This is third consecutive month in which the state's jobless rate has set a new record low.

Vermont Business Magazine On the evening of April 18th, the Burlington Board of School Commissioners unanimously ratified a contract agreement with Paraeducators in the District for the 2019-2020 school year. "We are glad to see the continued collaboration between the para's BEA bargaining team, the board, and the District has resulted in the collective bargaining process resolving much sooner than in previous years," said Superintendent Obeng and Board Chair Clare Wool in a joint statement. "We are most pleased that we were able to avoid mediation this year and we look forward to continuing to work together to strengthen relationships and serve our students."

Vermont Business Magazine Green Mountain Glove (GMG) of Randolph has been granted $6,330 from the State of Vermont, Vermont Training Program (VTP). This grant will allow GMG to train skilled leather sewers and meet increasing demand. More specifically, the company will develop and implement their own workforce processes congruent with robust quality assurance programs. The training will also position them to obtain ISO 9001 certification (International Standards Organization), which will enable them to break into new markets.

“We feel extremely lucky to own and operate our business in Vermont because there are so many resources on the state level designed to help small businesses like ours grow and positively impact on our economy, our employees, and our local community,” said GMG Owner Sam Hooper.

by Julie Moore The Blue Marble is an image of planet Earth made in December 1972 by the crew of the Apollo 17 at a distance of about 18,000 miles from the earth’s surface. It is one of the most reproduced images in human history. It is also the image my dad gave me when he and my mom dropped me off for my first semester of college, saying, “This is why you are here.” This charge felt a bit overwhelming. 

Vermont Business Magazine Governor Phil Scott signed new legislation into law strengthening Vermont’s captive regulation in a variety of areas. This year’s bill proposed several updates to Vermont’s leading captive law, including modifications to the captive examination schedule and improvements to the statute governing group captive investments. The many enhancements included in this year’s bill highlight the state’s ability to work closely in partnership with Vermont’s Governor and state legislature to ensure its captive law remains the industry gold standard.

Vermont Business Magazine Tim Burke, of White + Burke Real Estate Investment Advisors, Inc in Burlington, is pleased to announce the signing of two leases totaling 22,000 square feet for the University of Vermont Medical Center at 55 Community Drive in South Burlington. UVMMC is the state’s largest hospital and part of The University of Vermont Health Network, a four-hospital network serving patients and their families in Vermont and northern New York. 

Burke represented UVMMC; ReArch Company represented the Landlord, 55 Community Drive LLC, in the lease transaction.

White + Burke Real Estate Investment Advisors specializes in commercial real estate development services, asset management, permitting, and brokerage.

Source: SOUTH BURLINGTON, VT (4/17/19) - White + Burke Real Estate Investment Advisors, Inc

Vermont Business Magazine The Champlain Housing Trust announced today that it had closed on the permanent financing for its efforts to transform the St. Joseph School into the Old North End Community Center. The $8.8 million transaction secured $2.6 million in federal tax credits by leveraging several other local funding sources. CHT will now initiate construction and ensure that rents remain affordable for the nonprofit tenants and public uses. Just two weeks ago the Trust announced a lead gift of $500,000 from Trey and Dominique Pecor. Since then, $90,000 in donations have come in, leaving just $110,000 to raise from the community to finalize the $8.8 million project.