Current News

Public Assets Institute In November 550 more workers were employed. But over the longer term the trends have been different for different age groups. The biggest change is for the youngest Vermonters, ages 16 to 24. After a long decline, the share who had jobs climbed more than 6 percentage points from 2012 through 2016—from 52.2 percent to 58.6 percent. Meanwhile, the percentages of prime-age (25-54) and older (55-plus) workers employed has remained about the same since the end of the recession in 2009.

by Timothy McQuiston Vermont Business Magazine The Vermont Department of Labor announced today that the seasonally-adjusted statewide unemployment rate for November was 2.9 percent. This reflects no change from the revised October and September rates. Jobs grew in both the seasonally adjusted and unadjusted data for both the month and year-to-year. The Labor Force also increased. However, the unadjusted unemployment rate for the state and in every Labor Market increased for the month, but are still below where they were a year ago. The national rate in November was 4.1 percent, also unchanged. As of the prior month’s preliminary data, the Burlington-South Burlington Metropolitan NECTA was tied for the ninth lowest unemployment rate in the country for all metropolitan areas. Overall, Vermont’s unemployment rate was tied for the fifth lowest in the country for November. New Hampshire was tied for third (2.7 percent, unchanged from October, see chart below).

Vermont Business Magazine Today, Secretary of Administration Susanne Youngissued a directiverequiring all executive branch employees participate in sexual harassment training classes offered through the State of Vermont Department of Human Resources (DHR). In response to the national dialogue around the prevalence of sexual harassment, Governor Phil Scott called on DHR to review the State’s sexual harassment policies and procedures and recommend any necessary changes. Policies were found to be current and in line with best practices, and the Department identified an opportunity to improve training requirements to increase effectiveness.

Vermont Business Magazine Green Mountain Power is preparing for a series of storms that are forecasted to hit Vermont startingFriday. Forecasters say theFridaystorm could bring 3-8” of snow, with the heaviest snowfall in Southern Vermont. Then another storm is set to impact Vermont earlySaturdaymorning with rain, freezing rain, and sleet.

“Our crews are preparing now and are ready to respond quickly to any outages from these storms,” said Kristin Carlson, GMP’s Vice President Strategic & External Affairs. “Early preparation is key to making sure we can get the lights on quickly and safely for customers.”

Safety is most important during winter storms and GMP reminds Vermonters to be careful on the roadways especially, as these storms will cause hazardous travel conditions.Sundayis forecasted to be clear, but GMP is tracking another snow storm forecasted for Christmas Day.

Vermont Business MagazineThe Attorney General and the Vermont Human Rights Commission have released their Report onAct 54 - Racial Disparities in State Systemsto the Joint Justice Legislative Oversight Committee.Section 3 of Act 54charges the Attorney General, together with the Human Rights Commission and interested stakeholders, with developing a strategy to address racial disparities within the state systems of education, labor and employment, access to housing, healthcare, and economic development.The over-arching theme was that in order for Vermont to successfully address and reduce racial disparities, it will need to change the underlying culture of our state with regard to race.

by Timothy McQuiston Vermont Business Magazine The Vermont Public Utility Commission today approved Green Mountain Power’s rate increase of 5.02 percent for 2018. An average homeowner will see his electric bill go up about $5 a month (the average bill now is $97 and it will increase to $102). GMP and the Public Service Department had worked out a memorandum of understanding in early November that settled on a slightly higher rate than GMP’s original request of 4.98 percent by eliminating three capital projects that would have generated revenues for the Colchester-based utility. GMP is the largest utility in the state. The new rates will increase total revenues for GMP by $29.8 million, with residential accounting for $12.9 million of that.

Vermont Business Magazine Today, the Green Mountain Care Board (GMCB) voted unanimously to approve OneCare Vermont’s $620 million 2018 Accountable Care Organization (ACO) budget. The budget was approved with a series of conditions that the ACO must meet to better ensure that quality improvement and cost containment efforts are successful. The Board also voted unanimously to submit a Medicare rate trend factor of 3.5 percent for the Centers for Medicare & Medicaid Services’ (CMS) approval, resulting in a blended rate increase, inclusive of Medicaid and commercial insurance, of less than 3.0.

This new wellness program called "All-Payer" willcover an estimated 120,000 Vermonters, or about 20 percent of the population, beginningJanuary 1, 2018. The idea is by keepingpeople healthier, there will be less chronic disease, fewer major health events, and ultimately a healthier population with resultant lower costs.

Vermont Busines Magazine The 2018 Burlington Housing Trust Fund (BHTF) grant awards were announced today. This year, the fund provided $310,455 in projects and capacity funds to projects that will help create or preserve over 70 affordable homes in Burlington through Cathedral Square and the North Avenue Co-op and will support capacity at Champlain Housing Trust, COTS, Green Mountain Habitat for Humanity, and HomeShare Vermont.

Mayor Miro Weinberger, City Councilor Adam Roof, and Community and Economic Development Office Director Noelle MacKay and community leaders announced the recipients of the 2018 awards. Councilor Roof and Director MacKay are members of the BHTF Administrative Committee that makes the awards.

Vermont Business Magazine Today, the Vermont Business Roundtable announced that it has hired Mary Anne Sheahan of Shelburne, as Executive Director of the Vermont Talent Pipeline Management Program (VTPM). “The Roundtable and its VTPM partners around the state are very excited about this important next step toward the full realization of our program, which will improve alignment of employer needs with education and workforce programs, and grow Vermont’s economy,” said Roundtable President, Lisa Ventriss.

Vermont Business MagazineWith interest in legal, non-psychoactive hemp and CBD products growing rapidly, and the explosive growth of legal hemp cultivation, processing, and products being made in Vermont, Heady Vermont presentsCBD 101: Cannabidiol for Winter Sports Athletes and Weekend Warriors.The inaugural event will take place onSaturday, January 20, 2018atBurke Mountain Hotel and Conference Center, and will be part member ski day, part farmers market, and directly support hemp education and understanding, as well as spotlight the local, legal, and fast-growing Vermont hemp industry and the pioneering farmers and small businesses leading the way.

Vermont Business MagazineA.M. Besthas affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Ratings of “bbb-”forMVP Health Plan, Inc.,MVP Health Services Corp.andMVP Health Insurance Company(all domiciled in Schenectady, NY) (collectively referred to asMVP Group). The outlook of these Credit Ratings (ratings) is stable. Concurrently, A.M. Best has withdrawn the ratings as the company has requested to no longer participate in A.M. Best’s interactive rating process.

Vermont Business Magazine The Vermont Attorney General’s Office announced it has reached a settlement with a Berkshire, Vermont farm to resolve claims relating to agricultural water quality. In July 2016, the silage leachate pond at Pleasant Valley Farms of Berkshire, LLC discharged into the nearby Godin Brook. The leachate discharge flowed at least 7,200 feet downstream toward the Missisquoi River. Godin Brook is considered impaired for nutrients and outlets in Missisquoi Bay, which is impaired for phosphorus and has one of the highest concentrations of phosphorus of any segment of Lake Champlain.