Current News

by Public Assets Institute Vermont’s unemployment rate, which counts only those actively looking for work, remained steady at 3.7 percent last month. But that’s not the whole story. In October the number of Vermonters working, including the self-employed, slid to its lowest point since 2003. Based on household surveys, the Bureau of Labor Statistics estimated 332,440 Vermonters employed in October — 2,000 fewer than in September and a drop of about 4,500 since July.

by Elizabeth Hewitt vtdigger.org In a crowded Statehouse conference room, the Senate Government Operations Committee roughed out a sketch of what a regulated cannabis market in Vermont could look like. Legislative attorneys anticipate getting a first draft of the bill to committee chair Senator Jeanette White, D-Windham, by the end of the month. The tight timeline will give lawmakers just enough time to prepare the legislation for lawmakers’ return to Montpelier in early January. The preliminary legislation proposes a five-tiered licensure structure that would allow some Vermonters to cultivate plants at home in a 100-square-foot plot. Other licenses would regulate transporters of marijuana, product manufacturers, researchers and retailers.

Vermont Business Magazine Attorney General William Sorrell joined with eight other state attorneys general in urging leadership of the nation's largest credit card issuers to speed up implementation of chip and PIN technology, which is widely considered a more secure means of processing credit card transactions than that used with traditional magnetic-stripe payment cards.

Vermont Business Magazine Janice St Onge, President of the Flexible Capital Fund, L3C, announced Thursday an investment of $600,000 in two Vermont companies to accelerate growth in the renewable energy and natural resource market sectors. Northern Reliability, a renewable and distributed energy systems provider located in Waitsfield, received a $400,000 royalty (revenue share) loan for permanent working capital. Pulmac Systems International, a testing equipment manufacturer for the pulp and paper mill industry based in Colchester, secured a $200,000 term loan plus royalty.

Vermont Business Magazine Vermont's weekly unemployment claims, which had surged to over 700 the last couple of months, fell back modestly last week, after their historically low run at the end of the summer. For the week of November 14, there were 666 claims, a decrease of 38 from the previous week's total and 126 fewer than they were a year ago. Generally, claims have been running below last year's totals. Total claims were up in most regions of the state for the week, but down nearly everywhere for the year. By industry, claims decreased significantly for Manufacturing, but nearly doubles for Construction, as its season wound down. As has been the trend, Services led all categories with 48 percent of all claims, which was down for the week.

by Timothy McQuiston Vermont Business Magazine Despite no change in Vermont’s unemployment rate for October, the seasonally adjusted supporting numbers are actually worse, as there was a loss in both the workforce and the number of employed. However, there was no change in the number of unemployed. The Vermont Department of Labor announced today that the seasonally-adjusted statewide unemployment rate for October was 3.7 percent. This is the same as the revised September rate (3.7 percent). The national average in October was 5.0 percent. Vermont remains tied for eighth lowest in the nation and second lowest east of the Mississippi; New Hampshire's rate is 3.3 percent.

Vermont Business Magazine The People’s United Community Foundation, the philanthropic arm of People’s United Bank, announced today that it has awarded $5,000 to Cathedral Square Corporation for accessibility improvements at Kelley’s Field. Cathedral Square, created in 1977, develops and operates communities for seniors and individuals with special needs. Modifications to Kelley’s Field - a subsidized, 24-unit senior development in the heart of Hinesburg - began this spring, when Cathedral Square and Housing Vermont collaborated to rehabilitate the 1979 property. Improvements included increased accessibility, greater energy efficiency and water conservation measures, and preserved affordability.

by Timothy McQuiston Vermont Business Magazine Vermont Auditor Doug Hoffer had praise for the progress made by Vermont Health Connect, the state’s health insurance marketplace, but also had several concerns, in an audit of VHC dated November 18. Among the concerns he has is: the lack of full implementation of enhancements; the software developer’s (Exeter) decision to no longer support a key component; a failure to follow protocol in contracting policy; and lingering security weaknesses.

Hoffer said in the report: “The addition of automated change of circumstances and QHP (Qualified Health Plan) renewals are significant improvements to the VHC system’s functionality that should help alleviate customer dissatisfaction with the system.

by Timothy McQuiston Vermont Business Magazine Vermont Gas CEO Don Rendall said at a news conference today at company headquarters in South Burlington that the company has reached agreements with 98 percent of landowners – 160 out of 164 – along the 41.2-mile Addison Natural Gas Project corridor. Nearly 11 miles of the project are completed with the next phase of construction coming by the end of the construction season in 2016 “on time and on budget,” according to Rendall, who is celebrating his first anniversary on the job.

Vermont Business Magazine Autumn Harp, Inc, located in Essex Junction, has been named a Vermont Green Business by the state of Vermont for their environmental stewardship and sustainability efforts. The Vermont Green Business Program provides assistance to businesses desiring to “green up” their operations and recognizes businesses of all sizes for meeting a set of environmental standards. These standards are posted on the program websites (www.vbep.org). In addition to participating in an environmental assessment, Autumn Harp initiated a composting program, committed to purchasing environmentally sustainable supplies, and adopted a company environmental mission statement. Construction of the company’s warehouse, completed in 2013, incorporated energy efficiencies through insulation, energy recovery ventilators, and high-efficiency furnaces.

Vermont Business Magazine A Vermont organization that educates students about climate science was awarded $91,000 by the US Environmental Protection Agency to better prepare youth for the challenges of climate change. The Vermont Energy Education Program in Montpelier received the funding for its Vermont Climate Change & Education Project, which educates elementary and high school students and teachers throughout the state on climate change and climate science.

The program was one of seven New England groups awarded a total of $533,000 for programs that educate the community about climate change and other environmental issues. The organizations selected from Massachusetts, Vermont, Connecticut and Maine were among nearly four dozen organizations in New England to apply for funding.

Vermont Business Magazine The goal of powering a company, city, state, or nation with 50%, 75%, or even 100% renewable electricity would have seemed preposterous not long ago. But increasingly, a growing number of companies and governments are aim­ing to achieve such targets.