Current News

Vermont Business Magazine The Vermont Economic Development Authority (VEDA) has approved $57.4 million in bond and loan financing to support a variety of economic development projects throughout Vermont. "VEDA is pleased to make tax-exempt bond financing available for a large-scale nonprofit development project that will produce jobs," said VEDA Chief Executive Officer Jo Bradley. "Additional energy, agricultural, manufacturing and small business ventures also will receive financing assistance from VEDA, enabling them to create jobs and contribute to Vermont's economic vitality."

The project approved by VEDA for tax-exempt bond financing assistance is:

Vermont Business Magazine Berkshire Hills Bancorp, Inc(NYSE: BHLB), the parent company of Berkshire Bank with branches in southwestern Vermont, reported on Monday first quarter 2017 earnings of $15.5 million, or 44 cents per share. Core earnings totaled $19.4 million, or $0.55 per share. Net income increased by 50 percentover the prior quarter and core earnings increased by 8 percent, including the first full quarter benefit of the acquired First Choice operations. Non-core after-tax merger charges totaled $0.12 per share for the quarter.

Vermont Business Magazine Governor Phil Scott today announced the appointment of John Quinn as Secretary of Digital Services and Chief Information Officer. Quinn will lead the Agency of Digital Services (ADS), which was created by Gov. Scott under Executive Order 06-17 to establish a unified organizational structure for the state’s Information Technology (IT) portfolio.

“John has been integral in the planning of the Agency of Digital Services and in our overall strategy for modernizing state government,” said Gov. Scott. “His leadership and experience in IT and project management will continue to be incredibly valuable as we establish this Agency and take a more coordinated and accountable approach to managing the state’s IT infrastructure.”

Vermont Business MagazineAttorney General Donovan today joined a multistate letter calling out the USDepartment of Education for abdicating its responsibility to millions of student loan borrowers. The Department is revoking critical reforms designed to help students avoid default and curtail loan servicer misconduct.The multistate letter – co-sponsored by Massachusetts Attorney General Maura Healey and Illinois Attorney General Lisa Madigan, and joined by 19 attorneys general and the Office of Consumer Protection of Hawaii – was sent to Education Secretary Betsy DeVos in opposition to the Department’s recentrollback of guidanceintended to protect student loan borrowers and reform the student loan servicing industry.

Vermont Business Magazine Nine Chittenden County municipalities and three other entities are launching Rethink Runoff, a new multi-year public education and participation campaign focused on reducing the impacts of stormwater runoff. The campaign, with technical assistance from the Chittenden County Regional Planning Commission (CCRPC), is a combined effort of the municipalities of Burlington, Colchester, Essex, Essex Junction, Milton, Shelburne, South Burlington, Williston and Winooski plus Burlington International Airport, the University of Vermont and the Vermont Agency of Transportation. For several years, these 12 partners have operated the successful but separate efforts of the Regional Stormwater Education Program and the Chittenden County Stream Team to engage the public.

Leonine Public Affairs The Senate Appropriations Committee approved its version of the state FY18 budget bill on Friday afternoon. The Senate Appropriations Committee transferred approximately $8 million of teacher retirement expenses from the General Fund to the Education Fund. This freed up $8 million of General Fund dollars to fund numerous items on the committee’s “wish list” including the Vermont State Colleges, early education, Medicaid rate increases for mental health and home and community based providers and retaining the “cold weather exemption” for the homeless, among other things. The Senate Appropriations Committee also used $4.2 million in proceeds from a recent Volkswagen court settlement to make one-time investments in a variety of areas.

Vermont Business MagazineThe University of Vermont has broken ground on a new $1.4 million headquarters for UVM Rescue, a student-run organization created in 1972 that provides advanced life support ambulance services to the campus and greater Chittenden County. In 2016, UVM Rescue received 1,615 service calls. UVM Rescue’s new home, to be located on the south end the of the parking lot at 284 East Avenue, will open in the fall of 2017. The service is now located within the 284 East Avenue complex.

Vermont Business Magazine The Bennington Area Chamber of Commerce will unveil the new regional visitors guide onThursday, April 27thin two locations. The area guide, a staple of the Chamber’s tourism efforts, is updated yearly and distributed throughout the Northeast as a way to showcase the region’s various tourist attractions. This year, as the Chamber announced its 2020 Vision to become a fully regional chamber, the visitors guide took on a new mission as well.

Vermont Business Magazine State Treasurer Beth Pearce, House Speaker Mitzi Johnson, Champlain College Center for Financial Literacy Director John Pelletier, and members of the Vermont Financial Literacy Commission today urged policymakers to act on the recommendations contained in the Commission’s 2017 Financial Literacy Report.

Vermont Business Magazine Robert Larner, MD, the Burlington native for whom the UVM Larner College of Medicine was named in September of 2016, died peacefully at his home in Woodland Hills, CA, on Thursday, April 20, 2017. He was 99 years old. Over the years, Larner and his wife Helen have pledged $100 million to the university, primarily to the instruction of medical students. “Dr Bob Larner’s vision was always to support medical students through their important journey in medical school,” said Tom Sullivan, UVM president. “He wanted to ensure that his investment would help them achieve greatness in the practice of medicine. His financial support and personal relationships reached thousands of medical students here at UVM and well beyond. We will deeply miss Bob’s wonderful support of our medical students and his love of the University of Vermont.”

Public Assets Institute In 2016, Vermont’s lowest-paid workers saw the biggest wage gains of any group: 4 percent. When unemployment is low, workers are in short supply, so wages should increase. But Vermont’s low jobless rate—5 percent or less since 2012—was having little effect, especially at the low end. For those workers wages increased less than 2 percent a year from 2009 to 2014. Last year’s gains were due in part to Vermont’s minimum wage increase of 45 cents an hour.

Vermont Business Magazine The Vermont House gave preliminary approval to H333 on a vote of 123-19 today, requiring that all single-user bathrooms in public buildings be labeled as gender-free. The strong support that this bill received on the floor exemplifies the House’s commitment to supporting Vermonters of all gender identities and ensuring that fundamental equalities are preserved. This legislation is a step forward to protect the basic human dignity of Vermonters and will have an immediate and tangible effect in our communities.