Current News

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.

Vermont Business Magazine Fill up your bellies with a burger, fill your mind with information, and fill up your car with clean electricity! It’s all possible at Zoey’s Double Hex Restaurant in Manchester Center and the Northshire Bookstore, thanks to a partnership between Green Mountain Power and the two Manchester businesses. GMP’s commitment to a comprehensive statewide EV charging network will help increase Vermont’s energy independence and contribute to cleaner air and lower carbon emissions. GMP has installed charging stations in 22 locations, eight of which have a DC Fast Charger.

Vermont Business Magazine The Agency of Natural Resources has launched its new Web site, anr.vermont.gov. Aimed to better serve the public, the new site features intuitive links to existing programs within each of the Agency’s three departments in addition to expanded content on available maps, planning tools, permitting requirements, grants, loans, and internship opportunities. Working in close communication with the Departments of Environmental Conservation, Fish & Wildlife, and Forests, Parks and Recreation, and the Offices of Planning and General Counsel, the ANR web team has created a central hub where visitors can expect complete and current information about state-funded environmental initiatives.

Wall Street pleased with results, shares up 25 percent

by Timothy McQuiston Vermont Business Magazine Keurig Green Mountain, Inc (NASDAQ: GMCR), the Waterbury, Vermont-based personal beverage system company known for its single-serve coffee brewers, on Wednesday announced that both its quarterly and year-end results were down from the same period last year, as net income was off by double digits for both reporting segments. While single-serve pod sales were up slightly up, brewers, which have been struggling to maintain sales for a year, were down 23 percent for the year. However, national analysts were generally happy with the results, which exceeded Wall Street expectations (pushing shares up 25 percent by noon Thursday to $56.60), and which included a hike in the firm's dividend.

Vermont Business Magazine As budget negotiations in Washington, DC, intensify, Vermont Governor Peter Shumlin and four other New England governors have united across party lines to support a critical federal housing program. The HOME Investment Partnerships Program funds the development of affordable homes and is threatened to be nearly eliminated under congressional budget proposals. Governors Baker (R-MA), Hassan (D-NH), Malloy (C-CT), and Raimondo (D-RI) have joined Shumlin in sending a letter to the New England delegation in the US Senate supporting restored funding for the HOME Program.

Vermont home sales have been steadily rising over the last several months, but prices have actually gone down. In October, prices rebounded somewhat and were up over the same time last year. Meanwhile across the region, the residential market in New England year-over-year sales increased by 3.8 percent, according to The RE/MAX INTEGRA, New England October Monthly Housing Report. Pending sales were up 12.3 percent over October 2014 (Vermont 11.7 percent) while average days on market decreased by nearly 11 percent (Vermont nearly 14 percent). Vermont still had the highest DOM at 153. On a year-to-year basis, Vermont median homes sale prices were up $6,500 to $196,500 (3.4 percent).

Vermont Business Magazine Lyndon State College President Joe Bertolino has been appointed to the American Association of State Colleges and Universities (AASCU) Board of Directors for a three-year term. The appointment took place at the association’s annual meeting on October 27, 2015. The AASCU is a Washington, D.C.-based higher education association of more than 400 public colleges, universities, and systems whose members share a learning- and teaching-centered culture, a historic commitment to underserved student populations, and a dedication to research and creativity that advances their regions’ economic progress and cultural development.