Current News

Vermont Business Magazine Sovernet Communications today announced that its state-of-the-art fiber network now supports broadband services for numerous rural Vermonters in the so-called “last mile,” by providing dedicated Internet access and data transport to other service providers. These providers, in turn, are extending further and further into rural Vermont to serve residential and business customers. In 2010, Sovernet was the sub-recipient of a $33.4 million “middle mile” federal broadband stimulus grant from the National Telecommunications and Information Administration. As a combined result of the proceeds from the federal grant, Sovernet’s own investment of $12 million, and additional funding from the state of Vermont, Sovernet now delivers high-quality voice, data, and Internet services to more than 300 vital community institutions, including public libraries, schools and colleges, healthcare facilities and hospitals, municipal and state government offices, and other service providers throughout Vermont.

Vermont Business Magazine If Vermont development officials are looking to grow the economy, they might want to look at a relatively small segment that produces big results. Vermont has an estimated 439 middle market companies ($10 million-$1 billion in annual revenues), which make up 0.93 percent of all firms in the state according to the latest Middle Market Power Index from American Express and Dun & Bradstreet. The newest report in the series finds that the middle market is an increasingly important sector as it has accounted for more than half (53 percent) of total job growth nationally since 2011. Additionally, while middle market firms make up less than 1 percent of all US businesses (0.96 percent), they contribute one in four dollars (26 percent) and employ one in four workers (27 percent) in the private sector. Vermont ranks 45 out of all 50 states and the District of Columbia for growth in number of middle market firms from 2011-2016.

by Mike Smith Since our earliest days as a nation, America has been the hotbed of entrepreneurship in the world — a place where hard work and ambition can turn a dream into economic success. But recent polling data, and the unexpected popularity of two presidential candidates, suggests many Americans have lost confidence in significant parts of our economic system. For example, in 1979, according to polling done by the Gallup organization, a strong majority of Americans, some 60 percent, had either a great deal or quite a lot of confidence in the banking industry. In 2015, after the housing and banking crisis and the collapse of huge financial institutions like Lehman Brothers and Bear Sterns, that number had shrunk to only 28 percent. 

And according to a recent poll, also conducted by Gallup, those between the ages of 18 and 29, view socialism nearly as positively as they do capitalism. 

Vermont Business Magazine The Community College of Vermont (CCV) held its graduation ceremony Saturday at Norwich University’s Shapiro Field House. More than 550 students from across the state received associate degrees at the event. Students representing all 14 Vermont counties graduated along with students from 12 other states and 18 countries worldwide. The youngest graduate was 17 and the eldest was 66. Also among the graduates were 41 veterans and active duty military personnel.

Vermont Business Magazine In 2011, Vermont experienced two extraordinary storms. In the late spring, rains caused Lake Champlain to rise to its highest level on record. At the end of August Tropical Storm Irene hit. Researchers suggest more extreme weather could be on the way. Costs from hurricane damages in the United States are expected to increase 39 percent in the coming decades because of the effects of climate change and coastal development, according to a new report prepared by the Congressional Budget Office for Sens. Bernie Sanders and Patty Murray. The 2016 hurricane season began Wednesday.

Vermont Business Magazine - In an effort to build on health care cost containment efforts that have been a priority since he came to office, Governor Peter Shumlin has signed a law to make Vermont the first state in the US to require greater transparency of drug manufacturers when they increase the prices of prescription medications. Under the legislation (S216), insurers will be required to provide Vermonters with information about how much prescription drugs will cost out of pocket. The law also requires state health care regulators to develop a yearly list of the top fifteen drugs that have yielded the highest price increases. Manufacturers of those medications would then be required to justify the increase to the Attorney General’s Office.

Vermont Business Magazine - Renowned researcher, Dr. Esther Sternberg, presents concepts from her best-selling book. Southwestern Vermont Health Care, with support from the Susan Sebastian Foundation, is proud to host Dr. Esther Sternberg at 4 p.m. Saturday, June 11 at the Arkell Pavilion on the campus of the Southern Vermont Arts Center in Manchester, VT.

Vermont Business Magazine - by Jeffrey R Wakefield  It’s the height of irony. Irrigation systems designed to buffer farmers from the effects of a warming planet may be causing them to think their local area is cooler and wetter than it is, says research published June 1 in the journal Global Environmental Change -- perceptions that other studies suggest may slow their efforts to address climate change.

The paper is the first to show the impact of infrastructure on climate perception, said principal investigator Meredith Niles of the University of Vermont         

The research compares the climate record since 1980 of two wine producing regions in New Zealand, Marlborough and Hawke's Bay, with resident farmers' perceptions of climate change. Both areas rely heavily on irrigation for growing grapes and other crops.

by Joyce Marcel Vermont Business Magazine Unless you’re Abenaki, everyone in Vermont is an immigrant. So it doesn’t seem too far-fetched, given a shrinking population, a significant amount of empty housing stock and an expanding job market, that immigration might look like a smart way for a city to go. Rutland Mayor Christopher Louras certainly thinks so. After a great deal of soul-searching and study, the city under his leadership is planning to accept 100 Syrian refugees beginning in October of this year. This decision has made national news. 

Vermont Business Magazine Weekly unemployment claims fell dramatically last week to under 500 for the first time in nearly three months. Still, claims are running a bit higher versus a year ago. For the week of May 28, 2016, there were 490 claims, down 287 from the previous week's total and 46 more than they were a year ago. By industry, claims were down for Services, but about tripled for Manufacturing. 

Vermont Business Magazine The first graduating class of Castleton University passed across the stage at its 229th Commencement ceremony on May 7, bringing to close the 2015-16 academic year. Captain Richard Phillips addressed the more than 3,500 guests in attendance and thousands more streaming the ceremony live online. Phillips spoke of unwavering personal strength, focus and determination, and the importance of living every moment to the fullest. With 533 graduates, this marks the largest class in Castleton's storied history.

Vermont Business Magazine Governor Peter Shumlin today at the new I-89 interchange in Waterbury signed the FY 2017 Transportation Bill, which approves $612,574,418 in infrastructure improvements and maintenance of the state’s highways, bridges, rail lines, and airports. It also provides capital and operating support for public transit systems and other programs critical to the safe and efficient movement of people and goods in Vermont. The bill includes new provisions for increased fines for trucks that get stuck in Smugglers’ Notch, increased use of ignition interlock systems for repeat DUI offenders and an overhaul of the trespassing regulations to improve safety on Vermont’s rail lines.