Current News

Vermont Business Magazine KeyBank Foundation is proud to announce the recipients of its $5.4 million special grant program designed to strengthen Community Development Financial Institutions (CDFIs). In celebration of KeyBank's (NYSE: KEY) bicentennial, the KeyBank Foundation launched a national grant initiative to support CDFIs across its 27 markets, with a focus on affordable housing and small business growth. In markets where no eligible CDFI proposals were received, KeyBank is establishing a $200,000 donor-advised fund to ensure each of its communities are a part of this historic celebration. This includes the Rutland West Neighborhood Housing Services inc. dba Cornerstone Housing Partners.

Vermont Business Magazine The Vermont Economic Progress Council (VEPC) has approved the City of Rutland’s first phase filing in its Tax Increment Financing (TIF) District, paving the way for the City to move forward with critical infrastructure upgrades along Center and Wales Streets in support of the proposed hotel. VEPC unanimously approved the first phase filing during its July 31 meeting. It outlines the City’s plans to begin work on burying overhead electrical lines, as well as upgrades to water, sewer and stormwater systems. Streetscape enhancements, such as wider sidewalks, improved lighting and landscaping, are also included in the scope.

Vermont Business Magazine Governor Phil Scott today issued the following statement: “After a clear call from Vermonters for change, this past legislative session, my team and I worked with the legislature to pass a bill that will transform our education system, stabilize property taxes, and reverse the growing inequality in our current system to unlock more opportunities and better results for our kids. The next major step in this process is establishing new districts to consolidate unnecessary administration and operate more effectively. And tomorrow, the School District Redistricting Task Force will begin that work."

Vermont Business Magazine Northeastern Vermont Regional Hospital in St Johnsbury issued a statement Wednesday saying it is cutting 5 jobs and will close or transfer certain services in order to lower costs and meet financial goals. NVRH said it is committed to lowering the cost of health care while promoting access to essential services. In response to ongoing financial pressures and the evolving healthcare landscape in Vermont and the nation, NVRH has implemented a cost-containment strategy designed to maintain high-quality care while securing the organization’s long-term sustainability. The plan was developed through careful analysis and input from leaders and staff across the hospital to minimize disruption to patient care. 

Vermont Business Magazine ATTOM, a leading curator of land, property data, and real estate analytics, today released its second quarter 2025 U.S. Home Equity & Underwater Report, which shows that 47.4 percent of mortgaged residential properties in the country were equity-rich, meaning the combined estimated amount of loan balances secured by those properties was no more than half of their estimated market value. That was up from 46.2 percent in the first quarter of this year, reversing a recent trend where the share of equity-rich homes had declined for three straight quarters after peaking at 49.2 percent in the second quarter of 2024. The states with the highest proportions of equity-rich homes in the second quarter of 2025 were Vermont (84.9 percent), New Hampshire (60.3 percent), Rhode Island (60.3 percent).

by Timothy McQuiston, Vermont Business Magazine Average gasoline prices in Vermont are $3.09 per gallon, unchanged from last week, down 6 cents/g from last month and down 34 cents from a year ago. The lowest price in the state this week was $2.57/g while the highest was $3.25/g, a difference of 68.0 cents per gallon. Prices were lowest in Bennington ($2.94/g) and Rutland ($3.04/g) counties and highest in Lamoille ($3.18/g), Franklin ($3.19/g) and Grand Isle ($3.20/g), according to AAA. The national average price of gasoline fell 2 cents per gallon in the last week, averaging $3.14/g today.

Vermont Business Magazine The Vermont Fish and Wildlife Department now has information on its website about the 2025 controlled waterfowl hunts at Dead Creek Wildlife Management Area in Addison and at Mud Creek Wildlife Management Area in Alburgh.  Hunting on October 14 and 16 at Mud Creek will be by lottery drawing only, and blind sites will be assigned at the time of the permit lottery.  Any vacancies due to “no-shows” on those days will be filled on the morning of the hunt with a self-check-in process.  All other Tuesdays, Thursdays and Saturdays, except for opening day on Saturday, October 11, during the open season will be self-registration days with permits available at the Mud Creek operations building.

Vermont Business Magazine As Vermont continues to recover from the floods of 2023, 2024, and 2025, the state is shifting its resources. The Department of Mental Health’s Starting Over Strong Vermont (SOSVT) program concludes today, July 31, 2025, as planned. Ongoing support will continue through Long-Term Recovery Groups, the FEMA-funded Disaster Case Management (DCM) program, and other community-based services. SOSVT was funded by the Federal Emergency Management Agency (FEMA) and the SAMHSA. The Program has provided flood survivors with emotional support, coping skills, community education, and resource referrals since July 2023. 

Vermont Business Magazine The U.S. economy showed notable resilience in the second quarter in the face of significant uncertainty, according to the national Citizens Business Conditions Index (CBCI), released today. The second quarter index reading of 50.2 indicates that business conditions remained modestly positive during the period. In Vermont, the index pulled back slightly to 48.6 after a solid start to the year. However, on the whole, both the Vermont and national economy have remained remarkably resilient even despite trade and geopolitical upheaval. Corporate revenue trends in the state were healthy during the second quarter  and, as we look ahead, business sentiment is feeling much stronger for the back half of the year.

Vermont Business Magazine The U.S. Department of Agriculture’s Wildlife Services, in coordination with the Vermont Department of Health and the Vermont Fish & Wildlife Department, will conduct an annual rabies vaccine bait drop beginning Aug. 1 to help combat rising rabies rates in wildlife. The August rabies bait distribution will deliver approximately 762,000 rabies vaccine bait in areas of Addison, Caledonia, Chittenden, Essex, Franklin, Grand Isle, Lamoille, Orange, Orleans and Washington Counties. The vaccine – in the form of a sweet-smelling oral bait that is attractive for raccoons and skunks to eat – will be dropped from low-flying airplanes in rural areas, by helicopter in suburban areas, and placed on foot and by hand from slow-moving vehicles in residential areas.

Vermont Business Magazine U.S. Senator Peter Welch (D-Vermont), a member of the Senate Finance Committee, this week pushed for a vote on his bipartisan Creating Access to Necessary American-Canadian Duty Adjustments (CANADA) Act, legislation to exempt United States-owned small businesses from tariffs imposed on Canada. Senate Republicans blocked the unanimous consent request and refused to support small businesses in their states. Senator Welch took to the Senate Floor to slam the Trump Administration’s plan to increase tariffs and enact new sweeping global tariffs on August 1. 

by Joshua Brown, University of Vermont In a first-of-its-kind experiment tracing evolution across 25 generations, scientists have discovered that marine copepods—the tiny crustaceans at the heart of the ocean food web—rely on a largely unknown biological toolkit to survive the stresses of climate change. Published July 15, 2025, in the Proceedings of the National Academy of Sciences, the study reveals that it’s not only genetic changes (permanent alterations to DNA) that help these animals adapt to warming and acidifying ocean conditions. In addition, little-known epigenetic changes (temporary “on/off” chemical modifications to parts of DNA) play a crucial role too. Remarkably, the researchers discovered that the two mechanisms operate independently but in concert, offering what they call a “two-pronged strategy” for long-term resilience.