Current News

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.

Vermont Business Magazine Brattleboro’s newly formed Parks and Plazas, Inc introduced the final stage of the Brooks House's $24 million redevelopment project to a community crowd of over 200 Wednesday. Bob Stevens (Stevens Associates and the Brooks House Development Project) told the crowd that Brattleboro is a great downtown, but it is fragile — it's suffered from fire and Irene flooding, from old tired buildings, and from on-line stores and big boxes. From the very beginning of the Brooks House Project, the Brooks House team believed the land outside the back entrance to the Brooks House and currently occupied by Frankie’s Pizza, could support downtown vitality.

Vermont Business Magazine Southern Vermont College Director of Athletics Michael McDonough announced on June 1 the naming of Ashley Hodges as the new Assistant Director of Athletics for SVC, as the Bennington college was one of 26 National Collegiate Athletic Association (NCAA) Division III members to be awarded with the Association’s diversity grants for the 2016-17 academic year. Hodges has been the head athletic trainer for Southern Vermont athletics since the fall of 2009, and she assumed the Senior Woman Administrator role in the fall of 2010. She has been a part of numerous committees both at the College and at the NCAA level, including serving on SVC’s recent presidential search advisory committee which resulted in the hire of David Rees Evans, PhD, as the College’s ninth president. She also chaired the College’s search for its new Vice President and Dean of Admissions which landed Daniel Summers II in the position back in November.

Vermont Business Magazine Governor Peter Shumlin has issued an executive order to allow Vermonters to continue to display the Vermont Strong license plate. The exemption allowing Vermonters to display the plate on the front of their vehicle was slated to expire June 30, 2016. The executive order will remain in effect until a new governor rescinds it or the Legislature revisits the issue. "These plates remind us of how our state pulled together in the wake of Irene to rebuild stronger than the storm found us," Shumlin said. "The plate has become a symbol of pride for many Vermonters, myself included, and I want ensure people can continue to display them."

The full text of the order is copied below.

STATE OF VERMONT

EXECUTIVE DEPARTMENT

EXECUTIVE ORDER NO. 04-16

[Vermont Strong License Plates]  

by Mike Faher/The Commons Vermont Yankee’s property value has plummeted by almost 70 percent, according to a tax deal that has been approved by the Vernon Selectboard and the state. The six-year tax-stabilization contract sets the shut-down nuclear plant’s value at $78 million, down from a $250 million valuation that had been in effect. The change affects the town and state differently, but the end result will be the same — a loss of millions of dollars in Vermont Yankee tax revenue over the life of the agreement. But officials also say the deal contains some positives for Vernon, including a substantial annual payment in lieu of taxes to cushion the blow of lost taxes. That means Vermont Yankee owner Entergy will be paying much more than required, said Patty O’Donnell, a Vernon official who was involved in negotiations with Entergy.