Current News

Vermont Business MagazinePeople's United Bank, NAannounced today that it has entered into an agreement to acquire LEAF Commercial Capital, Inc. Based inPhiladelphia, PA, LEAF is one of the largest, independent commercial equipment finance companies in the U.S., with approximately$500 millionof annual originations.

Vermont Business Magazine The Lamoille Countystop on the statewide Road Pitch will be held August 4 in Hyde Park.The Lamoille Economic Development Corporation (LEDC) has selected and extensively coached six local entrepreneurs who will present their seven minute “pitches” to 40 or more motorcycle riders who are themselves successful entrepreneurs, venture capitalists, angel investors and business advisors.

This year’s Lamoille County event is co-sponsored by the Lamoille Region Chamber of Commerce. The public is invited to come watch this live Vermont-style “shark tank” event on Friday, August 4^that the Green Mountain Technology and Career Center in Hyde Park.

​Vermont Business MagazineNational Life Group’sfourth annualDo Good Fest, Presented byThe Point, over the weekend raised $35,000 forBranches of Hope, a fund that helps cancer patients with expenses during their treatment.The annual festival, which this year attracted more than 7,000 people, has now contributed $93,000 to the cancer patient fund atCentral Vermont Medical Center, helping countless Vermonters pay expenses ranging from transportation to heating bills while they’re undergoing treatment.

Vermont Business Magazine The Board of Trustees of the New England Center for Circus Arts in Brattleboro on Wednesday night issued the following statement, saying that it had "accepted the resignation of Executive Director Michael Helmstadter, effective at8 amThursday, July 20.

"Following the acceptance of MrHelmstadter’s resignation, all NECCA Board members resigned, effective immediately.

"Progress has been made, coaches have returned to work, and classes are resuming. The board is taking this opportunity to step aside so that new leadership can continue the conversation. We look forward to seeing the new building filled with students.

Vermont Business Magazine Natcore Technology Inc.has signed a Memorandum of Understanding with PSECC Solar Farms Ltd., a climate change mitigation company and developer of solar farms, under which PSECC would engage Natcore to develop solar projects withinthe United States.

Natcore would provide PSECC with access to Natcore's technology, including some level of exclusivity once that technology becomes commercially available. PSECC would facilitate the U.S. projects by, among other things, providing financial assistance that would include 80% of the funding of the projects at a low-interest rate (currently at 4.5%). Such financial assistance would be provided by a large European bank (and possibly others) with which PSECC has a strong relationship. The remaining 20% funding is likely to be obtained from otherUSAsources or European Institutions.

Vermont Business MagazineBarre-basedNorthern Power Systems Corp, a wind turbine technology firm for over 40 years, has seen a surge of interest in wind power in distributed energy (behind-the-meter, on-site power generation) applications in the United States, as the performance and financial benefits of field installations surpass user expectations.

Vermont Business Magazine Rep. Peter Welch and House colleagues representing districts along the U.S. Canadian border have introduced theNorthern Border Regional Commission Reauthorization Act of 2017, which would reauthorize the Northern Border Regional Commission (NBRC) for five years.In Vermont, the Commission is authorized to fund economic and community development projects inCaledonia, Essex, Franklin, Grand Isle, Lamoille, and Orleans counties.Between 2010 and 2016, it provided $5.5 million in funding for 33 Vermont projects.

Vermont Business Magazine New England Federal Credit Union’s (NEFCU) summer Shred Fest, held on Saturday, July 15th at its Main Branch, 141 Harvest Lane in Williston, destroyed 24,000 pounds—12 tons—of sensitive documents and 300 computer hard drives. By destroying documents and computer drives with sensitive personal information, NEFCU Shred Fests help prevent identity theft. Document and hard drive destruction is one of the best defenses against unauthorized access to personal data.

Vermont Business Magazine Berkshire Hills Bancorp, Inc, with branches in southern Vermont, reported second quarter 2017 net income of $19.7 million, or $0.53 per share. Core earnings totaled $21.6 million, or $0.58 per share. Net income was up 23% year-over-year, while core earnings grew 31% due to the benefit of business expansion. Net income per share increased by 2%, while core EPS increased by 7%. Net income was impacted by net non-core charges related primarily to acquisitions.

Vermont Business Magazine At a time when over 5.3 million young people in America do not have jobs, Senator Bernie Sanders (I-Vermont), Rep. John Conyers (D-Mich.) and Rep. Eleanor Holmes Norton (D-D.C.) announced Wednesday at the Sasha Bruce Youthwork center in Washington, D.C. that they will introduce legislation to help young people find work.

Vermont Business MagazineMarty Illick and the Lewis Creek Association, a leading Vermont water quality and conservation organization, have been honored with the eighth annual GMP-Zetterstrom Environmental Award. The award, named for famed osprey advocate Meeri Zetterstrom of Milton, was presented Wednesday for more than 25 years of work and education to improve the Lewis Creek watershed, which spans Ferrisburgh, Monkton, Charlotte, Hinesburg, Starksboro and Bristol in Addison and Chittenden counties.

Vermont Business Magazine Senators Patrick Leahy (D-Vermont) and Bernie Sanders (I-Vermont), along with Congressman Peter Welch (D-Vermont), announced Wednesday that Burlington had been selected for a $500,000 Outdoor Recreation Legacy Partnership (ORLP) program competitive grant from the National Park Service, which will help the city acquire 12 acres on shores of Lake Champlain to develop a new city park and eventually develop a trail connecting two other park properties as well as other recreational amenities. Funding for this project was awarded after a 2016 letter of support from the Vermont congressional delegation. The ORLP program is also funded through the Department of Interior’s Land and Water Conservation Fund (LWCF) that Leahy has long championed as a leading member of the Senate Appropriations Committee.