Current News

Vermont Business Magazine The Personal Income tax, by far the state's most important General Fund revenue source, was below its target by over $25 million for April. The PI had been running ahead of annual projections, but has now fallen over $11 million behind with only two months left in the fiscal year. The Sales and Rooms & Meals taxes also were below targets. The only component now ahead for the year is the Corporate tax, which was up for the month over 34 percent and for the year nearly 19 percent.

Vermont Business Magazine The East Central Vermont Telecommunications District (“ECFiber”) has completed a $14.5M revenue bond financing to complete its construction providing universal broadband coverage for 6 entire towns – Pittsfield, West Windsor, Pomfret, Barnard, Strafford and Thetford. The $14.5M financing will also allow ECFiber to begin the process to cover several additional towns (350 miles) in 2018, refinance higher cost debt, and connect over 800 subscribers in 2017.

“This is the second step in a four step financing process that began in 2016,” said Irv Thomae, Chairman of ECFiber and Governing Board delegate from Norwich. “We’re excited that more residents in these areas can now enjoy the benefits of locally controlled, state-of-the-art real broadband. Our plan is raise additional capital in 2018 and 2019 to fully cover 21 of our 24 towns by 2019.”

WCAX History:by Timothy McQuistonVermont Business MagazinePeter Martin pulled out his iPhone 5 and showed how one could watch the WCAX news broadcast crystal clear on a cell phone. So much for “film at 11,” a viewer can now get the TV news on a mobile device or at the CAX website. Won’t that just cannibalize your own news programming? “If we don’t cannibalize ourselves, someone else will,” Martin said.

Vermont Business MagazineGray Television, Inc (NYSE: GTN and GTN.A)announced today that it has reached an agreement with MtMansfield Television, Inc to acquire WCAX-TV, the CBS affiliated television station in South Burlingtonfor$29million. TheBurlington, Vermont-Plattsburgh, New York, marketis the 97th largest in the nation. WCAX has 95 employees.

Vermont Business Magazine Charlotte, NC-based FairPoint Communications, Inc (Nasdaq:FRP), Vermont's largest telecom, today announced that it lost -$23.9 million (-$0.88 per share) for the first quarter of 2017, compared to net income of $18.6 million for first quarter of 2016. The first quarter ended March 31, 2017. The company that plans to buy FairPoint during the second quarter of this year (ending June 30) also reported a quarterly loss.

Vermont Business Magazine Through a grant provided by the Vermont Department of Environmental Conservation (DEC) as part of the State’s Clean Water Initiative, the Town of Underhill and the Chittenden County Regional Planning Commission (CCRPC) will develop a Stormwater Master Plan for the Town. This type of planning is needed as development pressure is exerted on the Town due to its proximity to employment centers in central Chittenden County.

Vermont Business Magazine Governor Phil Scott joined Senators Patrick Leahy and Bernie Sanders, and Congressman Peter Welch today in welcoming a $2 million federal grant to increase access to opioid misuse prevention, treatment and recovery services for Vermonters. In a letter to Governor Scott, US Health and Human Services Secretary Tom Price said the funding is the first of two rounds as provided for in the 21st Century Cures Act. The funds will be allocated through the State Targeted Response to the Opioid Crisis Grants administered by the Substance Abuse and Mental Health Services Administration (SAMHSA).

Vermont Business Magazine Sometimes in sports, "a tie is as good as a win," but in the case of Governor Phil Scott's proposal to roll all local teacher health insurance contracts into one state plan, a tie vote in the House Wednesday night was a loss. An amendment to an existing bill to create a statewide teacher health insurance plan was defeated when Speaker Mitzi Johnson cast the tying vote on the amendment. A clear majority is required to add an amendment. The House then added an amendment supported by Democratic leadership that would take anticipated savings on school health care plans negotiated district-by-district across the state and put them against the statewide property tax. The governor called that plan a "hope and a prayer," in a VPR interview. At issue is what both sides agree is the prospect of $26 million in savings to property tax payers.

Vermont Business Magazine The Public Service Department today announced the next meeting of the Nuclear Decommissioning Citizens Advisory Panel (NDCAP) will be held on Thursday, May 25, 2017, from 6:00 PM to 9:00 PM in the multipurpose room at Brattleboro Area Middle School at 109 Sunny Acres in Brattleboro. Representatives from the Nuclear Regulatory Commission will be in attendance to take public comment on the proposed sale of Vermont Yankee, specifically the license transfer application filed by Entergy and NorthStar and NorthStar’s revised Post Shutdown Decommissioning Activities Report (PSDAR).

Vermont Business Magazine Newport and Bennington area residents will soon receive free trees to plant in their yard through Energy Saving Trees, an Arbor Day Foundation program. The trees will help to cool homes in the summer, saving homeowners money on energy costs in the process. The tree giveaway is being coordinated by the Vermont Urban & Community Forestry Program, a partnership between the Vermont Department of Forests, Parks, and Recreation, University of Vermont Extension, and the Vermont Department of Health’s Climate & Health Program.

Vermont Business Magazine This year marks the state’s 47^th annual Green Up Day, during which Vermonters collect litter and debris left behind by the spring snow melts on city streets and in our parks and neighborhoods. Mayor Miro Weinberger, ECHO Leahy Center for Lake Champlain Executive Director Phelan Fretz, Burlington Electric Department General Manager Neale Lunderville, City Sustainability Coordinator Jennifer Green, Skinny Pancake Founder and Owner Benjy Adler, and Edmunds Elementary School first, third, and fourth graders on Wednesday encouraged community participation in the City of Burlington’s Green Up Day efforts this Saturday, May 6.

Public Assets InstituteA newstudyranked Vermont the #1 state to raise healthy kids. That’s the good news. Vermont often ranks high on quality of life surveys (here,hereandhere, for example). The question is: Can Vermont stay on top if it continues to cut state services and postpone investments? The study looked at three broad categories: 1) kids’ health and access to health care; 2) kids’ nutrition, physical activity and obesity; and 3) kids’ oral health. Vermont ranked #1, #1 and #5 respectively.