Current News

Vermont Business Magazine Phil Scott, Republican candidate for governor, today introduced his plan to modernize state government by streamlining services to produce more efficiency, while also creating a better experience for Vermonters, principally by upgrading the state's Information Technology system. He also bludgeons existing management protocols by using the "disastrous" example of Vermont Health Connect to make his point.

Vermont Business Magazine Tax revenues did not meet targets again in May, despite a spectacular performance by the Corporate income tax. While the state is still trying to rectify Personal income tax errors that have plagued many electronically filed returns, the consumption taxes, especially the Sales and Gasoline taxes suffered. Gasoline receipts were down over 16 percent, which dragged down the Transportation Fund nearly 7 percent. GF Revenues were also down for the fiscal year. May is the 11th month of FY 2016. May tends to be a slower month for consumption taxes as it's between tourism seasons. Overall, General Fund revenues for the month were down by -$.66 million or –0.86 percent, totaling $75.38 million versus a monthly target of $76.04 million. This shortfall is driven by underperformance across the board with the exception of the Corporate Tax, which saw an above target performance of $3.17 million versus a target of $.43 million. The General Fund finished May with a cumulative year-to-date shortfall of -$15.31 million, $1,283.82 million versus a target of $1,299.13 million. Compared to the prior fiscal year, (FY2015), the current cumulative results for GF are +$30.05 million, or 2.40 percent ahead.

Vermont Business Magazine Vermont Employer Support of the Guard and Reserve has announced its 2016 award recipients for service and support to Vermont’s Guard and Reserve members. At their annual banquet held recently in Montpelier, VT ESGR recognized over 30 employers who provided outstanding support over the past year. Guest speaker for the event was Lieutenant General (Retired) Mike Dubie, previous Adjutant General for Vermont, and now President, Revision Military Technologies.

Top award recipients receiving the “Pro Patria” award were Northfield Savings Bank, small business private sector category; Radiology Services at the UVM Medical Center, large business private sector category; and Windsor Police Department, public sector category. This is the highest award that a state ESGR office can present.

Vermont Business Magazine - Today Governor Shumlin signed H.857, An act relating to timber harvesting, with the following message: As part of signing H.857, I am directing the Secretary of Commerce and Community Development to work with the Secretary of Natural Resources to publish guidance for the appropriate implementation of Section 16 of the bill.  Specifically, I direct ANR to work with ACCD to promulgate rules and revise ACCD’s Planning Manual to include the following direction for planning commissions seeking to fulfill obligations under the Municipal and Regional Planning and Development Act, Chapter 117 of title 24.    

Vermont Business Magazine - On Saturday, June 11, MedAssets-Precyse will celebrate the on-boarding of 18 medical coding graduates who recently completed an intensive pre-apprenticeship education program. Earlier this year, more than 350 unemployed or underemployed Vermont residents applied to be selected for one of the slots in Vermont HITEC’s Certified Medical Coder Program.  The program prepares the students for the American Academy of Professional Coders (AAPC) medical coding certification exam, and upon graduation from the program participants are provided a certified medical coder apprentice position at MedAssets-Precyse.  These positions receive full wages and benefits.

Vermont Business Magazine - $5,000 grant will support Basic Needs and a Stable Home programs. VSECU, a member-owned cooperative and not for profit credit union for everybody in Vermont, today announced that it has awarded Spectrum Youth & Family Services (“Spectrum”) with a $5,000 grant for its Basic Needs and Stable Home initiatives, which help homeless and at-risk youth. This gift will ensure that young people have access to critical support, including meals, material needs, shelter, housing, and improved connections to community support services. 

In addition to the grant, VSECU’s Vice President of Accounting Kasey Furness and Burlington Branch Manager Abbi Kiley participated in the Spectrum Sleep Out for the second year in a row, to show solidarity with youth who are or are likely to become homeless. Together, the VSECU Sleep Out team raised more than $2,000.

Vermont Business Magazine - Keurig Green Mountain announced Tuesday that it has discontinued making the Keurig Kold system and has laid off over 100 employees effective immediately. According to a Keurig spokesperson, "After careful review and consideration, we are discontinuing the first generation of Keurig KOLD as of today and we are offering consumers a refund for the full purchase price of their KOLD drink-makers. The decision to discontinue KOLD also means that the roles of many of our colleagues are impacted. Earlier today, we notified 108 Vermont employees that their roles were affected by a workforce reduction. The majority of those impacted were employees on our KOLD pod manufacturing and related support team whose roles were impacted by our decision to discontinue our first generation Keurig KOLD system. Employees whose roles were affected will receive severance benefits including salary continuation and outplacement support.

Vermont Business Magazine - BalanceWorks of Rutland has received a $25,000 Regional Economic Development Grant sought by Rutland Economic Development Corporation (REDC) and provided by the State of Vermont. 

“Investment spurred by the grant will create two new jobs in the region and increase productivity at BalanceWorks through the purchase of a 3-D printer, software, technical support, and other equipment and supplies,” said Lyle Jepson, executive director of REDC.

“Recent improvements in 3-D printing technology have brought the cost of sophisticated printing and imaging equipment within reach of a growing small business,” Jepson said. “This new equipment will allow BalanceWorks to meet the increased demand for its custom foot orthotics and shoe customization.”

REDC applied for the grant on behalf of BalanceWorks owner David Goodspeed, a certified pedorthist. 

Vermont Business Magazine CoreLogic Home Price Index (HPI) and HPI Forecast data for April 2016 shows national home prices are up both year over year and month over month. Vermont, consistent with slow-growth in home prices the last several years, showed only a 1 percent increase year-over-year, one of the smallest increases in the US. Home prices nationwide, including distressed sales, increased year-over-year by 6.2 percent in April 2016 compared with April 2015 and increased month over month by 1.8 percent in April 2016 compared with March 2016,* according to the CoreLogic HPI.

Vermont Business Magazine On Saturday, June 11, MedAssets-Precyse will celebrate the on-boarding of 18 medical coding graduates who recently completed an intensive pre-apprenticeship education program. Earlier this year more than 350 unemployed or underemployed Vermont residents applied to be selected for one of the slots in Vermont HITEC's Certified Medical Coder Program. The program prepares the students for the American Academy of Professional Coders (AAPC) medical coding certification exam, and upon graduation from the program participants are provided a certified medical coder apprentice position at MedAssets-Precyse. These positions receive full wages and benefits.

Vermont Business Magazine The Centers for Medicare & Medicaid Services (CMS) on Monday released a final rule improving how Medicare pays Accountable Care Organizations in the Medicare Shared Savings Program for delivering better patient care. Medicare is moving away from paying for each service a physician provides towards a system that rewards physicians for coordinating with each other.

by Annette Smith In his May 25 Letter to the Editor to the Rutland Herald, Peter Yankowski asked House Speaker and Lieutenant Governor candidate Shap Smith to explain his relationship with renewable energy developer David Blittersdorf, his partner Ritchie Berger’s complaint filed against me with the Vermont Attorney General, and the apparent conflict of interest that has resulted in the refusal of the House under Speaker Smith’s leadership to pass meaningful renewable energy regulation.