Current News

Vermont Business Magazine The Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program (NFIP) is advising local residents to act now to prepare their homes and families for potential flash flooding due to heavy summer rains. With the steadily rising waters of Lake Champlain and the Winooski River, Burlington residents who live in flood-prone areas need to act today to protect their homes.

Floods are the most common natural disaster in the United States, and damage can be costly for residents.

Local residents should consider these four tips:

Vermont Business Magazine Glenn Lavoie, AGC/VT President and Senior Vice President of Winterset Inc. of Lyndonville and the Board of Directors, has announced the appointment of Richard J. Wobby, Jr. as the next Executive Vice President of The Associated General Contractors of Vermont. He will be succeeding Cathleen Lamberton who is fully engaging in her emotional fitness business Cathleen L, on September 14, 2018, after nine years in the position.

Wobby has had the position of Director of Safety Training and Membership for close to twenty years. Well steeped in workplace safety issues, Wobby is well known in the Vermont construction industry for his acumen concerning rules and regulations promulgated by the Occupational Safety & Health Administration (OSHA) and the US and Vermont Departments of Labor concerning safety and health in gravel pit operations.

Vermont Business Magazine Champlain College has completed its $36 million downtown student housing project in anticipation of more than 300 students moving in later this week for the start of the 2018-2019 academic year. The building, known as 194 St Paul Street, was designed to provide housing for upper-class undergraduate students looking to live in suite-style apartment accommodations. The mixed-use, six-level complex contains 105 apartments for 314 Champlain students. Along St Paul Street, there is also approximately 4,400 square feet of street-level retail space and 53 covered parking spaces available to the public and accessible from King Street and Maple Street.

The project, located downtown on the site of the former Eagles Club and Browns Court parking lot, is located on St Paul Street between King and Maple. Work began on the project in January 2017.

by Timothy McQuiston, Vermont Business Magazine After a torrid pace to the last half of the last fiscal year, General Fund revenues fell below targets for the first month of the new fiscal year. Tax revenue projections were raised because of the strong finish to Fiscal Year 2018. The vital Personal Income tax is up about 10 percent above last year's actual collections. It came in just under 9 percent above last July. General Fund revenues for July totaled $80.55 million, or -$0.87 million below the consensus revenue target adopted by the Emergency Board on July 27, 2018, according to Secretary of Administration Susanne Young. The below-target performance was driven by a -$0.61 and -$1.5 million under-performance in the Personal Income and Inheritance and Estate taxes respectively.

by Timothy McQuiston, Vermont Business Magazine He even looks the part. Waterbury-based Ben & Jerry's - the progressive ice cream maker known for its chunk-and-swirl-laden flavors, irreverent sense of humor, sometimes iffy puns and work as an aspiring social justice company - has named Matthew McCarthy its new Chief Executive Officer. McCarthy, a 21-year veteran at Ben & Jerry's parent company, Unilever, took over July 1, 2018.

The new CEO has wasted no time challenging the business to "double its social impact," attesting it will also lead to continued performance in the marketplace and meeting Ben & Jerry's triple bottom line focus on producing the world's best ice cream, earning a fair profit, and giving back to the community.

Vermont Business Magazine The University of Vermont Medical Center today released its Form 990 for fiscal year 2017. The annual filing, which is required for all nonprofit organizations, includes information about community benefit investments and other details about the UVM Medical Center’s governance. The form includes revenue and expense figures, compensation of top wage earners and provides a glimpse into the organization’s work to fulfill its mission as the region’s only academic medical center, Level 1 trauma center, children’s hospital and the community hospital for Chittenden and Grand Isle Counties.

In FY 2017, the UVM Medical Center’s community benefits totaled $193 million – up approximately $20 million from FY 2016 – and includes free care, grants to community organizations, and underpayments in Medicaid and other programs. This represents approximately 16.2% of total expenses.

Vermont Business Magazine The Champlain Housing Trust announced today that it has acquired a 15-acre property with 105 apartments on Dorset Street in South Burlington. Dorset Commons, which was originally built in the late 1970s. It was sold by Catic Exchange.

Vermont Business Magazine Governor Phil Scott today announced 239 Vermont schools have been awarded school safety grants totaling $4 million, which will fund infrastructure upgrades designed to improve school safety. This funding is possible through a $5 million funding package proposed by Scott and passed by the Legislature this spring. An initial $4 million in grants will fund 560 separate projects in 239 schools to help tighten security and notification infrastructure. An initial $4 million in grants will fund 560 separate projects in 239 schools to help tighten security and notification infrastructure. Purchases will include interior and exterior door locks, indoor and outdoor public address systems and other infrastructure upgrades to improve safety. Schools were eligible for up to $25,000 and will be responsible for a 25 percent grant match. The average award is around $16,000. The funds will be distributed by the beginning of the 2018-2019 school year.

Vermont Small Business Administration The IRS encourages everyone to use the Withholding Calculator, https://apps.irs.gov/app/withholdingcalculator/, to perform a quick “paycheck checkup.” This is even more important this year because of recent changes to the tax law for 2018. The Calculator helps you identify your tax withholding to make sure you have the right amount of tax withheld from your paycheck at work.

Vermont Business Magazine The Green Mountain Care Board (GMCB) today announced its decision to reduce the 9.6 percent rate increase requested by Blue Cross and Blue Shield of Vermont (BCBSVT) for insurance plans offered through Vermont Health Connect (VHC) to 5.8 percent, with the rate increase to be felt by Vermonters averaging 3.2 percent.

Vermont Business Magazine Small Dog Electronics’ founder and CEO Don Mayer announced today that the company is seeking new ownership or partners. The company, located in Waitsfield with stores in South Burlington and Key West, Fl, generates about 50 percent of their revenue from sales to the government and the balance from retail and on-line sales. The company is an Apple Premier Partner and specializes in Apple products and services as well as home automation products. Mayer and Small Dog have been longtime leaders of Vermont Businesses for Social Responsibility.

Vermont Business Magazine Vermont Businesses for Social Responsibility (VBSR) is pleased to honor three outstanding individuals and organizations who are pushing new ideas and initiatives forward, leading by outstanding example, and developing successful socially responsible business models. Our 17^th Annual Awards Ceremony and Dinner will recognize Jen Kimmich, Co-Founder of the Alchemist, with the Terry Ehrich Award for Lifetime Achievement.

The VBSR Terry Ehrich Award for Lifetime Achievement (formerly the Terry Ehrich Award for Excellence in Socially Responsible Business) honors an outstanding individual in honor of Terry Ehrich, late owner of Hemmings Motor News, founder of the First Day Foundation and a founding member of the board of directors of VBSR. The award is given annually to a person exemplifying Terry’s commitment to community, the environment, progressive public policy, and the workplace.