Current News

Vermont Business MagazinePersonal income tax revenues, the most important General Revenue source, rebounded in November to push them up over 24 percent for the month (+$10.08 million) and ahead for the year. November marks the fifth month of fiscal year 2018. General Fund revenues collected for the month of November totaled $104.58 million, $8.30 million above the consensus cash flow expectation for the month. The November monthly consensus cash flow target reflects where General Fund receipts overall should be through the month, given the consensus revenue forecast for fiscal year 2018, adopted by the Emergency Board on July 21, 2017, according to Secretary of Administration Susanne Young.

Vermont Business Magazine Governor Chris Sununu announced today that New Hampshire will opt out of the FirstNet plan presented by AT&T, and will instead pursue a contract with Rivada Networks, LLC for the provision of an alternative plan for the build out of a high speed wireless broadband network for New Hampshire's first responders. Vermont Governor Phil Scott announced last week that Vermont would opt-in to the FirstNet/AT&T plan. New Hampshire is the first state to opt-out of what is intended to be a nationwide safety plan.

Scott followed the recommendation of the Public Safety Broadband Network Commission issued November 20.

Public Assets Institute This is the 11th year in a row that Montpelier has projected spending obligations will exceed state revenue projections going into the start of the legislative session. Maybe it’s time to acknowledge that the state’s revenue system isn’t keeping up with even modest budget growth. Projected General Fund revenue for next year is $1,591 million. That’s about $34 million more than Vermont had available to pay for base appropriations for this year ($1,557 million). If this revenue growth were distributed evenly, there would be enough for an increase of just over 2 percent across state government.

Vermont Business Magazine Attorney General TJDonovan raised concerns over the FCC for allowing “fake comments” to be posted on its public comment pages related to proposed rules that would roll-back net neutrality rules. “Net neutrality should be protected and preserved. Fake comments undermine the integrity of the entire process.” said Donovan. In July, the Vermont AG submitted comments to the FCC supporting an open internet.

Vermont Business MagazineVail Resorts, Inc(NYSE: MTN) today reported results for the first quarter of fiscal 2018 endedOctober 31, 2017, and provided season pass sales results and certain early ski season indicators. Vail has seen immediate positive impact from its recent acquistions of Stowe Mountain Resort in Vermont and Canada'sWhistler Blackcomb, the largest ski resort in North America.Whileearly season results have been mixed across the Vail network,Whistler Blackcomb andStowehave had a strong start to the season with early snow and cold temperatures conducive to snowmaking.ColoradoandUtahhave been challenged with limited early season terrain.

Vermont Business MagazineGovernor Phil Scott and Agriculture Secretary Anson Tebbetts visited the Vermont Christmas Tree Farm in Barton Wednesday to highlight the importance of these businesses to the rural Vermont landscape and economy. After touring the farm with owners Bill and Sue Tester, Governor Scott cut three trees, two for his offices in Montpelier and one to bring home. The Testers also provided tips on the best method for cutting and transporting the trees back to his Pavilion office.

Vermont Business Magazine The US Environmental Protection Agency's efforts to preserve air and water quality “are really, at this point, in jeopardy,” said Gina McCarthy, who headed the agency under President Barack Obama and spoke Friday afternoon at the University of Vermont. “It is very, very difficult today not to get a little bit down.” Still, everyone must stop worrying, buck up and move forward, she told those who attended the speech, sponsored by UVM’s Rubenstein School of Environment and Natural Resources. That’s what her father would have demanded, McCarthy said.

Vermont Business Magazine Dynapower Company, LLC, the world’s leading independent manufacturer of energy storage inverters and fully-integrated storage systems, today announced that the United States Patent and Trademark Office has issued the company a patent for itsDynamic Transfertechnology. The patented technology enables the seamless transition of an energy storage system with a Dynapower inverter from grid-tied to backup battery power in the event of a grid disturbance.

Vermont Business Magazine EPA has awarded $1,345,000 million in grants to strengthen the capacity of the states to protect and restore wetlands. The Wetland Program Development Grants provide interstate agencies, tribes, and nonprofit organizations with funding to develop and refine comprehensive state and local wetlands programs. Supplemental funding for these projects will be awarded in FY18 but the amounts will be budget dependent.

“These grants are a good example of our productive relationship with state partners, achieving meaningful environmental benefits for American communities by working collaboratively,” said Deb Szaro, acting regional administrator for EPA’s New England office. “Protecting wetlands is a cost-effective way to help communities take advantage of the significant benefits provided by healthy wetlands: buffering from storms and flooding, filtering stormwater, protecting habitat and offering recreational enjoyment.”

Vermont Business Magazine Dynapower Company, the world leader in energy storage inverters and converters, is pleased to announce the first deployments of its patent-pending, UL-listedDPS-250DC converters in utility-scale solar plus storage projects in the Southeastern United States The deployments at three project sites are with two of the nation’s largest independent power producers.

Vermont Business MagazineThe School for International Training this week activated a new solar power project that is expected to produce approximately 260,200 kilowatt hours (kWh) of renewable energy annually and mitigate 183 metric tons of carbon in the first year alone. The 196.5-kilowatt project is also expected to save the institution approximately $10,000 in energy costs per year. The carbon offset equates to more than 105 tons of coal burned annually.

“This project goes a long way in helping SIT move toward our goal of becoming a greener campus,” said SIT President DrSophia Howlett. “It is part of an organization-wide climate action plan to become more energy efficient.”