Current News

Vermont Business Magazine For the eighth time since 2010 Vermont is receiving a grant to assist small businesses reach global markets. A $306,420 grant was recently awarded to Vermont through the Small Business Administration's State Trade Expansion Program, a Federal-State partnership initiative to increase the number of small businesses exporting and the value of exports by the small business sector. The state of Vermont is providing $102,140 for a total of $408,560 in state exporting funds.

“The SBA has provided Vermont a grant each year because the state continues to show it is building a sustainable network for small businesses to gain access to international trade,” said Darcy Carter, SBA Vermont District Director.

Vermont Business Magazine Weekly unemployment claims fell by over a quarter last week. For the week of September 22, 2018, there were 267 claims, 89 fewer than than they were the previous week, and 31 fewer than they were a year ago. Altogether 2,407 new and continuing claims were filed, an decrease of 54 from a week ago, and 125 fewer than a year ago. Weekly claims remain at a very low level. For most weeks of 2017 and 2018 claims have been below the year before. Vermont currently is locked into a historically low period of unemployment.

For UI claims last week by industry, Services, which typically accounts for most claims, represented 49 percent of all claims, while Manufacturing fell by more than double and accounted for 17 percent of all claims.

Vermont Business Magazine Vail Resorts, Inc (NYSE: MTN) today reported results for its fourth quarter and fiscal year ended July 31, 2018 and provided its outlook for the fiscal year ending July 31, 2019. Vail closed on its acquisition of Okemo in Ludlow, Vermont, on Thursday and bought Stowe Mountain Resort last year.

Vermont Business Magazine The 2019 SKI Magazine Readers Survey has awarded highest honors to Smugglers’ Notch Vermont, declaring the Resort “Best in the East.” The debut award takes a “whole package” approach toward determining the best resort in the East, citing Smugglers’ as a unique standout based on their combination of family-friendly offerings on and off slope, as well as some of the most challenging terrain in the East.

Smugglers’ owner and managing director, Bill Stritzler said: "The efforts put forth by Smugglers’ staff are terrific. The members of our team are committed to providing a level of service which exceeds the expectations of our guests, constantly working to improve upon our current offerings, and developing new and exciting programs to provide many options for the diverse range of families we serve."

Vermont Business Magazine The Burlington Electric Department, joined by Mayor Miro Weinberger, Burlington homeowner Brett Roeser, contractors, credit union representatives, and other community partners, today invited the community to the second annual Burlington Home Energy Tour, taking place tomorrow, Saturday, September 29, 2018 from 10:00am-1:00pm featuring five Burlington homes. The goals of the self-guided tour are to offer inspiration on how to reduce home heating and cooling costs while living comfortably, and provide participants with opportunities to learn from Burlington homeowners who are using solar, cold climate heat pump technology, and energy control devices, as well as enhanced weatherization, to keep their homes warm in winter and cool in summer. Mr. Roeser shared details of the recent weatherization work performed on his home.

Vermont Business Magazine On October 1, 2018, the Vermont Public Utility Commission will hold a workshop as part of its investigation into promoting the ownership and use of electric vehicles in Vermont. The workshop will begin at 9 am in Room 11 at the Vermont Statehouse, 115 State Street, Montpelier. The workshop is open to the public, and everyone interested is encouraged to attend.

by Timothy McQuiston, Vermont Business Magazine There was no honking, slogans, cheering, sign waving or epithets this morning, as there was back in July when nurses at The University of Vermont Medical Center announced they would go on strike. Instead, lead nurse negotiator Molly Wallner, backed by a few colleagues, quietly read a statement saying that about 70 percent the Vermont Federation of Nurses and Health Professionals had ratified a new three-year contract. Nearly 1,100 of the 1,800 nurses had cast votes, she said.

Vermont Business Magazine The Vermont Manufacturing Extension Center (VMEC) has received a grant to provide Lean Manufacturing and Leadership Skills workshops to manufacturing companies in Caledonia, Essex and Orleans counties at 50 percent off the standard fees. Multiple Lean Manufacturing and Leadership Skills workshops are planned to be held at locations in Newport and St Johnsbury.

This workforce development opportunity for Northeast Kingdom manufacturers is made possible through a recently-awarded Northern Border Regional Commission (NBRC) grant, through the Northeastern Vermont Development Association (NVDA) and the Lake Champlain Regional Chamber of Commerce (LCRCC) through the Vermont Quebec Enterprise Initiative.

Vermont Business Magazine US Senator Bernie Sanders (I-Vermont) issued the following statement Thursday after Judge Brett Kavanaugh and Dr Christine Blasey Ford testified before the Senate Judiciary Committee: "I listened to Dr Ford, and I listened to Judge Kavanaugh. I believe Dr. Ford. Brett Kavanaugh does not belong on the Supreme Court.

Vermont Business Magazine Governor Phil Scott today issued the following statement Thursday afternoon: “As the U.S. Senate continues to consider the appointment of Judge Kavanaugh to the U.S. Supreme Court, I urge them to require a thorough, independent and non-partisan FBI investigation into the accusations that have been brought against the Judge and take the appropriate time necessary to do so.

Vermont Business Magazine On Thursday, September 20, the Vermont Housing & Conservation Board awarded $5,838,948 in state and federal funds to create and preserve 146 affordable homes and to conserve 577 acres of forestland with provisions for public access and water quality protection. VHCB Executive Director Gus Seelig said, “We are excited to support investment in nine towns that will result in new affordable housing options, increased recreational opportunities, improved water quality and support for agriculture. The projects funded this month are made possible by the Housing Revenue Bond and other public resources that leverage private investment in order to improve Vermont’s communities, our economy, and our quality of life.”

Vermont Business Magazine Vail Resorts, Inc (NYSE: MTN) today announced that the Company has closed on its acquisition of Triple Peaks, LLC, the parent company of Okemo Mountain Resort in Vermont, Mount Sunapee Resort in New Hampshire and Crested Butte Mountain Resort in Colorado. The Company purchased Triple Peaks from the Mueller family for a final purchase price of approximately $74 million (originally listed at $82 million), after adjustments for certain agreed-upon terms. As part of the transaction and with funds provided by Vail Resorts, Triple Peaks paid off $155 million in leases that all three resorts had with Ski Resort Holdings, LLC, an affiliate of Oz Real Estate.