Current News

Vermont Business Magazine This afternoon in the House Committee on Energy and Commerce markup of the FDA Reauthorization Act of 2017 (HR 2430), Representative Peter Welch (D-VT) introduced an amendment to authorize the importation of safe, low-cost medicine from Canada.In his opening remarks on the amendment, Welch decried the high cost of prescription drugs in the United States and implored the Committee to allow Americans to get their prescription drugs from Canada where prices are significantly lower.

A full transcript of Welch’s remarks can be found here.

by Stephanie Hainley Over 50 million working Americans are headed toward poverty in retirement. The lack of retirement savings is staggering, but fortunately, there is one simple way to help change that: give more people access to workplace savings plans. Some states, including Vermont under the guiding hand of Treasurer Beth Pearce, the Governor’s support, and bi-partisan efforts, have taken it upon themselves to help more working families save by creating a state-based public retirement option, which makes it incredibly simple for Vermont’s small employers to offer their employees access to a vetted product. Vermont’s small business economy depends on innovative solutions like this, and I am pleased to see Green Mountain Secure Retirement on the horizon.

Vermont Business Magazine As part of improving access to health care for all Vermonters, especially those living in rural parts of the state, Governor Phil Scott signed a bill that seeks to expand the use of telemedicine, defined as health care services delivered via a live interactive audio and video connection. The bill signing took place Wednesday morning at The University of Vermont Medical Center.

Vermont Business MagazineVail Resorts, Inc today announced that it has closed on its acquisition of Stowe Mountain Resort inVermont, the premier, high-end resort for skiers and snowboarders on the East Coast. Vail Resorts acquired the resort from MtMansfield Company, Inc, a wholly owned subsidiary of American International Group, Inc(AIG).The final purchase price, after adjustments for certain agreed upon terms, including a reduction in the price by the amount that the resort's EBITDA exceeded capital expenditures for the period fromNovember 1, 2016, through closing, was$41 million.The original estimate at the time the deal was announced in February was $50 million.

Vermont Business Magazine Vermont’s regional planning commissions and the Vermont Department of Environmental Conservation (DEC) are pleased to invite municipalities to sign up for a new Municipal Roads Grants-in-Aid Pilot Project. DEC’s Clean Water Initiative Program is offering approximately $2.1 million to support this pilot project. The funding will help Vermont achieve its water quality goals by aiding municipalities in implementing best management practices on municipal roads. This additional support will help municipalities get a jumpstart on meeting the forthcoming DEC Municipal Roads General Permit requirements:http://dec.vermont.gov/watershed/stormwater/permit-information-applications-fees/municipal-roads-program.

Vermont Business Magazine Artificial intelligence just got smarter. IBM (NYSE: IBM), its Research Alliance partners GLOBALFOUNDRIES and Samsung, and equipment suppliers have developed an industry-first process to build silicon nanosheet transistors that will enable 5nanometer(nm)chips. The details of the process will be presented at the 2017 Symposia on VLSI Technology and Circuits conference in Kyoto, Japan. In less than two years since developing a 7nm test node chip with 20 billion transistors, scientists have paved the way for 30 billion switches on a fingernail-sized chip. GLOBALFOUNDRIES bought IBM's legacy chip plants in Essex Junction, Vermont, and Fishkill, NY in July 2015.

Vermont Business MagazinegroSolar, based in White River Jct,JEA, and AEP OnSite Partners, an American Electric Power (NYSE: AEP) company, have announced the commercial operation of the 7-megawatt (MWAC)Northwest Jacksonville Solar Partners (NWJAX) solar farmin Jacksonville, Florida. The project is located on Arnold Road just north of the Jacksonville International Airport. The NWJAX project is owned by AEP OnSite Partners and features single axis trackers that track the sun from east to west throughout the day greatly increasing the efficiency of the project.

Vermont Business Magazine CAA-Quebec's traditional survey of Quebecers' summer vacation plans reveals that residents of the province are highly confident this year. Whereas many respondents in 2016 said they'd be staying at home (or close by), this summer people have clearly regained their thirst for adventure, with holiday plans that are more ambitious in every respect. The northern New England states will see many visitors from the north, but the strength of the US dollar will send others overseas if they decide to travel out of the country.

The flags of Quebec and Vermont fly side-by-side, a common site in the summer in Vermont, as tourists from the north are an important part of the travel economy and an imporant part of the state's heritage.

Vermont Business Magazine Keurig Green Mountain, Inc, based in Waterbury, has introduced a new lineup of brewer colors just in time for the spring and summer seasons. Knowing the importance of color in the kitchen, Keurig worked closely with its longtime partner, the Pantone Color Institute to create an assortment of new beautiful and bold colors for select Keurig brewers that complement a variety of design aesthetics.

“With today’s continually evolving design and color trends, consumers have so many ways of incorporating different accents into their home” says Phil Drapeau, Vice President of Hot System Appliances. “Each year we look forward to introducing new colors to our Keurig coffee maker lineup so consumers can bring their own personal style into the kitchen.”

Vermont Business Magazine ValChoice, a national insurance analytics and rating firm, has ranked Vermont as the 16^th worst state for home insurance value in the nation. For comparison purposes, the average price of auto insurance in Vermont is $665, up 5 percent over three years. Homeowners insurance in Vermont rose 12.8 percent to $844 in the same period.

Vermont Business Magazine Attorney General Thomas JDonovan, Jrhas announced that Vermont has entered into asettlementwith JPay Inc, a provider of communication services to correctional facilities. The settlement involves a promotional contest that JPay conducted in violation of Vermont law. JPay will pay a $7,380 penalty to the State of Vermont, and will refund atotal of approximately $400 in fees paid by 82 Vermonters who entered the contest.

Vermont Business Magazine Gray Television, Inc(NYSE: GTN and GTN.A)announced today its promotion of veteran broadcasters to lead its television stations in four markets.Like all other new Gray General Managers named in 2017, all four of these individuals were promoted from within Gray's station ranks. Gray owns over 100 stations in generally middle markets across the US. Gray took over WCAX on June 1 in a $29 million deal announced May 4.