Current News

Vermont Business Magazine Don Sinex, managing member of Devonwood Investors LLC and BTC Mall Associates LLC, the owner and developer of the Burlington Town Center, issued the following statement regarding the zoning permit appeal filed by a group of opponents attempting to block redevelopment of the Burlington Town Center: The opponents have filed various challenges along the way and have focused their appeals on the 14-story height of some of the new complex as out-of-scale to the rest of Burlington. The project recently received private financing and has been approved by local zoning officials and by voters in March. This new appeal has gone to the Vermont Superior Court Environmental Division.

Vermont Business Magazinie Vermont once again has one of the highest business tax burdens in the nation, according to new analysis by Anderson Economic Group (personal income taxes are due today, Tuesday April 18). The study, which ranks states based on the portion of business income that goes toward taxes, found that 12.6 percent of Vermont businesses profits go toward taxes, placing the state at 48^th out of 51 states including the District of Columbia. The study also ranks states on 11 different types of business taxes and shows that Vermont has one of the highest business property and unemployment compensation tax burdens nationwide.

Vermont Business Magazine The Vermont Association of Snow Travelers (VAST), a 501(c) (3) organization, is launching a $3 million capital campaign for the continued redevelopment Lamoille Valley Rail Trail (LVRT). When completed, the trail, extending 93 miles from St. Johnsbury to Swanton, will be the longest rail trail in New England. As a year-round recreational corridor, it serves walkers and runners, bicyclists, snowmobilers, horseback riders, cross country skiers and mushers. VAST Executive Director Cindy Locke believes that the trail is going to be the top four-season recreation destination in Vermont when it is completed. In addition to its recreational amenities, LVRT will be a powerful economic engine for the 18 towns along its route.

Vermont Business Magazine Grace Cottage Family Health of Townshend, VT, has received Level 3 Patient-Centered Medical Home (PCMH) recognition from the National Committee for Quality Assurance (NCQA). This certifies that Grace Cottage’s Rural Health Clinic has achieved the highest level of evidence-based, patient-centered, coordinated care. The NCQA PCMH model of primary care combines teamwork and information technology to improve access, communication and patient involvement, and to reduce costs. Medical homes use systematic, patient-centered, coordinated care to foster ongoing partnerships between patient and provider, rather than approaching medical care as a series of episodic office visits.

Research shows that medical homes can lead to higher quality and lower costs, and can improve patient and provider reported experiences of care.

Vermont Business Magazine Nokian Tyres and POWDR Adventure Lifestyle Co. today announced a two-year partnership making Nokian Tyres the official tire partner for POWDR’s nine North American resorts. Nokian's North American headquarters are in Colchester, Vermont. “Since our first winter tire rolled off the line in 1934, Nokian Tyres has focused on producing tires capable of performing safely in the most demanding conditions, especially the snow and ice of northern climates,” said Hans Dyhrman, director of marketing, Nokian Tyres North America.

Vermont Business Magazine The discovery of a protein signature that is highly predictive of leukemia could lead to novel treatments of the leading childhood cancer, according to new study showing that competition among certain proteins causes an imbalance that leads to leukemia. The new study in the journalNature Immunologyreveals that the activation of a protein known as STAT5 causes competition among other proteins that leads to acute lymphoblastic leukemia (ALL). If a drug could be developed to prevent the initial activation of STAT5 and restore the natural balance of proteins, ALL could potentially be treated more effectively.

Vermont Business Magazine Vermont Teddy Bear is proud to announce their newest Bear to the Bears That Care program: Limb Loss & Limb Difference Bears. Working closely with the Amputee Coalition, Vermont Teddy Bear has created this collection of Bears to help those with limb loss and limb difference. “We are really proud of the whole Bears That Care program, and are very excited about this Bear and our partnership with the Amputee Coalition,” says Bill Shouldice, CEO of Vermont Teddy Bear Company.

Vermont Business Magazine Shane Jacobson, a highly-accomplished and experienced development and advancement executive, has been named president and CEO of the University of Vermont Foundation. Jacobson currently serves as the vice president for development and alumni relations at Grinnell College, which is consistently ranked as one of the top 20 liberal arts colleges in the nation. Under his leadership, Grinnell’s alumni giving rates have increased rapidly, fundraising production has experienced double-digit growth and – thanks to a strategic effort to build a much larger alumni volunteer base – alumni engagement has expanded and diversified.

Vermont Business MagazineThe Vermont Women’s Fund, a component fund of the Vermont Community Foundation, awarded $124,000 through its competitive grant round this spring to 14 organizations working to improve the lives of young women and girls in Vermont. The grants support programs across the state that provide young women and girls ages 12-25 with opportunities to gain financial literacy, job-training skills, mentorship, and experiences that expand their vision for the future.

“For many young women in Vermont, these programs are essential to their success,”says Meg Smith, director of the Women’s Fund. “Without family supports or strong role models, many young women are quick to fall through the cracks of cyclical poverty. We applaud all the program providers who give their time, energy, and love to help Vermont’s young women create a new future for themselves.”

Vermont Business MagazineVermont Works, a new Vermont investment firm that plans to invest $50 million in Vermont companies through its social impact fund, is partnering with VSECU through its wholly owned subsidiary, Vermont Heritage Financial Group, Inc(VHFG) to spur economic growth and create new jobs in the Green Mountain State. The partnership will combine Vermont Works’ vision of increasing investments, particularly in growth stage capital — that is, capital for established companies looking to expand operations or relocate to Vermont — with VSECU.

VSECU CEO Rob Miller will advise the management company responsible for the investment fund and help guide the organization’s development and social impact investment decisions.

Public Assets Institute The purpose of the state budget is “to address the needs of the people of Vermont.” Yet each year Montpelier focuses its attention on closing the General Fund budget gap. Elected leaders acknowledge investments are needed to clean up Lake Champlain, provide families with child care financial assistance, and make higher education more affordable. But progress has been slow in making these investments. And to balance the budget they make cuts—to Reach Up benefits for the poorest families, to affordable housing programs, to key policy staff. Despite the cuts, however, the budget gap reappears year after year, thanks to persistent structural problems: anemic state revenues even in a growing economy, and rising health care costs that demand an increasing share of state spending.

Leonine Public Affairs With three weeks left in the 2017 legislative session, the Senate Appropriations Committee continues to hammer out its version of the FY18 budget bill. It is likely the committee will bring the bill to the Senate floor next week. Once that happens the Senate will be spending a lot of time debating the budget. To accommodate extended floor sessions and the need on the part of the Senate “money committees” (Appropriations and Finance) to hold extensive meetings the Senate’s “morning committees” will not, after today, hold any more regularly scheduled meetings.