Current News

Cost pressures require 5.45% base rate increase offset by 6% credit to customers as a result of accelerated tax credit return

Vermont Business Magazine Green Mountain Power today filed a traditional rate case with the Public Utility Commission for rates set to take effect January 2019. The filing calls for a base rate increase of 5.45 percent and a bill credit that equals about 6 percent, more than offsetting the increase. The result for customers is a net decrease of 0.5 percent through September 2019, due to returning benefits from the federal tax change.

Vermont Business Magazine Secretary of Administration Susanne Young remains cautious despite tax revenues exceeding expectations for the month and the year-to-date. The Personal Income tax, the single most important revenue source, was nearly $18 million ahead of its target for the month (more than double). She revealed the numbers today but noted that positive news at this same time last year soured by the next month. She also said there is still uncertainty regarding how Corporate taxes will ultimately play out.

Vermont Business Magazine On Thursday LaunchVT announced the eight Vermont startups that will be participating in its 2018 cohort. This is the sixth cohort of startups to come through LaunchVT’s early stage acceleration program and pitch competition. Over the past five years LaunchVT has provided mentorship and over $400,000 in cash and in-kind services to accelerate 35 Vermont startups.

Over the next seven weeks, entrepreneurs in the LaunchVT cohort will work with a dedicated coach, strategic advisors, and each other to refine their business models and hone their pitches. They will participate in Peer Workshops and Office Hours with local business advisors, and then compete in the Final Pitch Competition for $100,000 in cash and in-kind services. The Final Pitch Competition takes place on May 17th from 5-8pm at the Film House at Main Street Landing. The event is FREE and the public is invited to attend!

Vermont Business Magazine The Vermont Attorney General’s Office announced that it has reached a settlement with a Vermont solid waste removal business for violations of Vermont’s Waste Transportation Rules. Through the court-approved settlement, County Waste and Recycling Service, Inc., doing business as Ace Carting (Ace Carting), resolved claims that it had violated Vermont’s Waste Transportation Rules, including claims relating to transporting solid waste without a permit and the failure to file quarterly franchise tax returns with the Agency of Natural Resources (ANR). Vermont’s permit and reporting requirements for commercial solid waste haulers are aimed at reducing the threat to public health and the environment that comes with the transportation of wastes.

Vermont Business Magazine Mayor Miro Weinberger today announced that Community & Economic Development Office (CEDO) Director Noelle MacKay will be accepting the role of Chief Operating Officer at the Regulatory Assistance Project (RAP), and will be concluding her successful tenure with the City on May 25. RAP is an independent, non-profit organization dedicated to accelerating the transition to a clean, reliable, and efficient energy future, and has offices in Montpelier, Europe, and China. As CEDO Director since 2016, MacKay played a critical role in a number of important community and development projects, including leading the City’s engagement with the CityPlace Burlington and new marina projects, overseeing CEDO’s lead program, and supporting the growth and development of the My Brother’s Keeper initiative and restorative practices in partnership with the Burlington School District.

Vermont Business Magazine Today, Congressman Peter Welch (D-VT) and Congressman Charlie Dent (R-PA) introduced bipartisan legislation to require judicial review of any decision to fire an independent special counsel, including Special Counsel Robert Mueller.

Vermont Business Magazine US Senator Bernie Sanders (I-Vermont) issued the following statement Friday after President Donald Trump signed an executive order demanding an evaluation of the Postal Service’s finances.

Vermont Business Magazine Green Mountain Power is preparing for possible outages this weekend as a storm moves into Vermont that forecasters say could bring wet snow, icing and possible gusty winds. Forecasters say some of the worst weather could be in parts of the state hardest hit by the wind storm last week. GMP tracks the weather through multiple forecasters, watching for possible impacts to customers. Forecasters are saying the areas most at risk for possible outages from the winter precipitation are Rutland, Windsor, Windham and Bennington counties, but the storm will roll across the entire state Saturday afternoon through Sunday evening. Forecasters are also watching possible gusty winds up to 40 MPH starting late Sunday into Monday morning through Monday afternoon.

Vermont Business Magazine Weekly unemployment claims last week rose by nearly 200, but remain below levels for the same time last year. For the week of April 7, 2018, there were 623 claims, 189 more than than they were the previous week, but 141 fewer than they were a year ago. Altogether 5,479 new and continuing claims were filed, an increase of 85 from a week ago, but 826 fewer than a year ago. For most weeks of 2017 and into 2018 claims have been below the year before.

by Timothy McQuiston Vermont Business Magazine The Scott Administration is bristling at a suggestion made earlier this week by Vermont's largest union that the state implement a single statewide health insurance contract for all public school employees. A year ago, Governor Phil Scott advocated for a statewide teacher health insurance plan to save money and equalize benefits. The teachers' union rebuffed such a plan and Democratic leadership opposed it. The standoff led to a budget veto and ultimately a compromise that did not include a statewide plan. Today Susanne Young, Secretary of Administration, issued the following statement on the Vermont NEA’s proposal to move to a statewide health benefit.

Vermont Business Magazine The Bennington Area Chamber of Commerce, serving the Shires of Vermont region, had some of its key people speak at this year’s Vermont Tourism Summit. The Summit, attended by over 300 tourism-based agencies, businesses and stakeholders, was held on Wednesday, April 11 and Thursday, April 12 in Manchester, Vermont at the historic Equinox Resort.

Matt Harrington, the executive director of the Chamber, opened the summit on Wednesday as part of a 4-person panel discussing the evolving Vermont brand. Michael Jager of Solidarity of Unbridled Labour, Sas Stewart of Stonecutter Spirits, and Hans van Wees of Hotel Vermont joined Harrington on stage. The panel discussed the ongoing efforts of the Vermont brand to be relevant and modern in an age of ever evolving marketing and branding strategies and tools.

Vermont Business Magazine Runamok Maple, the Cambridge, Vermont-based company, which produces organic, infused, barrel-aged, and smoked maple syrups, took home a 2018 sofi (specialty outstanding food innovation) Award, winning Best New Product in the Dessert Sauce or Topping Category. Regarded as the “Oscars of Specialty Food” in the culinary industry, the sofi Awards have been presented by the Specialty Food Association (SFA) since 1972. This year, Runamok’s Ginger Root-Infused Maple Syrup stood out among 2,650 product entries, wowing a panel of 58 culinary experts during a blind taste test in March.