Current News

by Vermont State Auditor Doug Hoffer The unfortunate situation with the EB-5 program presents an opportunity to reflect on the State’s approach to economic development. Among other responsibilities, the State Auditor’s office examines various programs to determine whether they achieve the goals established by the legislature. That is, are we getting our money’s worth? 

To answer the question, we conduct performance audits according to Generally Accepted Government Auditing Standards. To do this, we need evidence that is sufficient and appropriate (i.e., quantity and quality). In the absence of such evidence, we cannot reach meaningful conclusions or make recommendations. 

Unfortunately, some economic development programs present serious challenges. Here are some examples. 

Vermont Business Magazine On Friday April 29th, the Vermont Agency of Agriculture, Food & Markets (VAAFM), in partnership with the Vermont Specialty Food Association (VSFA), Vermont Retail & Grocers Association, and the Vermont Fresh Network, hosted its 7th Vermont Food Matchmaker event in Burlington.  Featuring 54 Vermont producers and 40 buyers from 30 retail establishments, the Matchmaker event is a key component of the VAAFM’s domestic export program, which focuses on assisting Vermont food and forest businesses in making and maintaining connections with buyers, brokers and distributors in both in-state and out-of-state markets.

Table 13 consultation. VRGA photos.

by Mike Faher/The Commons, Brattleboro A sharply divided Vermont Supreme Court has opened the door for Brattleboro Retreat to face negligence claims in connection with a 2011 assault committed by a former patient. A majority of justices have ruled that the family of the assault victim, Michael J Kuligoski of St Johnsbury, can pursue claims that the Retreat and Northeast Kingdom Human Services failed to warn of the dangers posed by assailant Evan Rapoza, who had been under the care of both facilities for mental illness.

Vermont Business Magazine Berkshire Bank Foundation announced that it has awarded $22,252 in grants and pledges to 13 nonprofit organizations in Southern Vermont during their first quarter grants cycle. The funding supports a variety of organizations.

Vermont Business Magazine The House of Representatives today approved a package of bills to address the opioid epidemic spreading across the country. The legislation would help states and communities increase their capacity to treat patients in recovery and provide tools to prevent addiction and overdoses. Two bipartisan initiatives authored by Rep. Peter Welch (D-VT) were included in S. 524, the Comprehensive Addiction and Recovery Act.

Vermont Business Magazine VSECU announced today a commitment to foster and grow Vermont’s cooperative economy through strategic equity investments in local cooperative organizations. VSECU (Vermont State Employees Credit Union) will make these strategic investments through Co-op Capital, a new initiative that marks the latest project under the credit union’s vision to bring people together to empower possibilities for greater financial, environmental, and social prosperity. The primary goal of Co-op Capital is to drive significant growth within Vermont’s cooperative economy and positively impact VSECU’s local communities. Accordingly, in addition to weighing the financial viability of its cooperative partners, VSECU will also consider the social impact of the co-ops it chooses to invest in through this program.

Vermont Business Magazine After a long upward trend, unemployment claims were virtually the same as last week and last year. Claims had risen following the "disastrous" winter tourism season, but have now fallen back into a significantly lower range. For the week of May 7, 2016, there were 525 claims, up 2 from the previous week's total and 21 more than they were a year ago. By industry, claims fell across the board, except for Manufacturing and Services, which were up 5 and 4 percent. Services continued to garner by far the most with 65 percent of all claims. 

Vermont Business Magazine Governor Peter Shumlin issued the following statement after the Obama Administration released guidance to schools nationwide making it clear that gender identity is protected under Title IX and that students should be treated consistent with the gender they identify with.

Vermont Business Magazine Gubernatorial candidate Matt Dunne said Thursday that his first priority as governor would be to rebuild trust in Montpelier through significant transparency and ethics initiatives. Dunne’s plan includes establishing a strong ethics commission, eliminating direct corporate contributions to campaigns, establishing monthly campaign finance reports, requiring assets disclosures for all legislative and statewide candidates, instituting a two-year cooling off period before state officials are allowed to lobby or work in the sector they were overseeing, and reforming the public financing system to encourage candidates to use low dollar contributions to fund their campaigns.

Vermont Business Magazine Valener Inc, the public investment vehicle in Gaz Metro Limited Partnership (Gaz Metro is the parent company of Vermont Gas Systems and Green Mountain Power), today reported adjusted net income attributable to common shareholders of $32.4 million for the second quarter of fiscal 2016, unchanged from the second quarter of fiscal 2015. However, the relatively warm winter and lighter winds drove down net income from the Vermont operations to $20.5 million, or 8.1 percent, from the same period last year.

Vermont Business Magazine Norwich University will celebrate commencement and commissioning with ceremonies on Saturday at 2 pm and Sunday at 9 am. On Saturday, May 14, at the 2 pm commencement ceremony, former Army Chief of Staff General Raymond Odierno will deliver the university’s 2016 Commencement address to more than 450 graduating seniors. Both ceremonies are free and open to the public and will be livestreamed.

Vermont Business Magazine The Community College of Vermont will hold its 49^th commencement ceremony at Norwich University’s Shapiro Field House on June 4, 2016. The ceremony will begin at 2 pm. This year, over 500 students from across the state will be awarded associate degrees. Students representing all 14 Vermont counties will be graduating along with students from 12 other states and 18 countries. Also among the graduates are 41 veterans and active duty military. The youngest graduate is 17 and the oldest is 66.