Current News

Vermont Business Magazine NBT Bank, based in New York with branches in Vermont, announced today that it has acquired Third Party Administrators, Inc, a retirement plan services company located in Bedford, NH. The business provides administrative services for 401(k), profit sharing and defined benefit plans for over 700 businesses as well as Section 125 administration. TPA, Inc will operate as a stand-alone business, retaining its staff, business name and location. Neil Tullis will continue in his role as president of TPA, Inc.

Vermont Business Magazine Mayor Miro Weinberger today announced that the Ewing Marion Kauffman Foundation will partner with the City of Burlington on an 18-month engagement to improve conditions for entrepreneurs in Burlington and study the results of this effort. In collaboration with the City’s Community & Economic Development Office (CEDO) and other community partners supporting Burlington's entrepreneurial growth, the Kauffman Foundation will bring a combination of up to $500,000 in Burlington-specific grants, technical assistance, and research to strengthen the City’s capacity to support entrepreneurs who are starting and growing employer companies in our community.

Vermont Business Magazine With Diaper Need Awareness Week (Sept. 28 - Oct. 4) under way, Seventh Generation, a leading household and personal care company, today celebrated the culmination of its successful diaper promotion with Whole Foods Market and Baby Buggy. For every pack of Seventh Generation Free & Clear diapers purchased at Whole Foods Market between May 1 - September 30, 2015, Seventh Generation donated a pack of its newborn or size one diapers to Baby Buggy, a national nonprofit that provides families with children in need across the country with essential gear, clothing, products and services. Over the past five months, a total of 2.5 million diapers have been dispersed nationwide to families in need through Baby Buggy and Good360.

Vermont Business Magazine The Vermont Public Service Department announces the launch of a new website to help Vermont home owners learn about and access the Department’s Heat Saver Loan. More than $1 million of energy saving projects have been financed using Heat Saver Loans since the program officially launched in October 2014. The Public Service Department, Efficiency Vermont, Opportunities Credit Union and VSECU are working together to help Vermonters prepare for the upcoming heating season. As Vermonters prepare to button up their homes and replace or improve their heating systems, the recently launched HeatSaverLoan.com website has all the program details to help homeowners learn how to finance qualified home energy projects.

Vermont Business Magazine Governor Peter Shumlin, representatives from Vermont’s insurance carriers, and officials and staff from Vermont Health Connect (VHC) gathered today in Montpelier to provide an update on the health insurance marketplace’s progress. The governor announced that the technology upgrade necessary for a smooth open enrollment has been delivered and tested and will be deployed starting this evening; the backlog of change of circumstance cases has been cleared; VHC is now operating at a vastly improved customer service level for change requests; and customers will be able to report many changes online starting Monday. Meeting those milestones is consistent with the schedule laid out by the Governor in March 2015 and in legislation passed later in the spring.

Vermont Business Magazine It is getting easier to charge an electric vehicle in Chittenden County, thanks to a partnership between Essex Outlets and EuroWest Properties and Green Mountain Power. GMP is installing a new NRG EVgo Freedom Station for electric vehicles at the Essex Outlets, one of the first retail centers in Vermont to host one. Construction will begin September 8 and will be available soon after.

“This is part of our commitment announced in June to build a comprehensive fast charging network across the state, increasing Vermont’s energy independence and contributing to cleaner air and lower carbon emissions,” said Dorothy Schnure, GMP spokesperson. “We are so pleased to work with Essex Outlets to host this site where so many people shop and work. These chargers represent the best in fast charging technology and will help us to continue to deliver clean, cost-effective and reliable power.”

Vermont Business Magazine In conjunction with National Manufacturing Day/Month, several Vermont firms will have open houses: October 2, 2015, Maple Landmark Woodcraft will be hosting students, lawmaker(s), and community members for factory tours. This event is part of a nationwide effort to draw greater attention to the outstanding opportunities a career in manufacturing can provide as well as promote the pursuit of skills which lead to a long-term career that offers security and growth.

Vermont Business Magazine On September 1st, Vermont-based Pete’s RV Center officially assumed ownership of Van’s RV Center in South Windsor, Connecticut. Located just 20 minutes from Hartford, Van’s RV has served thousands of customers in Connecticut, southern New England, and New York since opening its doors in 1963. Looking to step out of day-to-day operations after 40-plus successful years, longtime Van’s owner Mark VanOstrand explained the acquisition as being well-timed and an excellent fit, “The acquisition of Van’s RV brings together two of New England’s longest established RV centers. I am excited to be working with Pete’s RV as we blend together the best

Vermont Business Magazine A collaboration of the City of Rutland, Rutland Redevelopment Authority, NeighborWorks of Western Vermont, and Project VISION announced a number of recently completed action steps representing significant progress towards the revitalization of a section of the City’s Northwest Neighborhood. The recent progress will be celebrated with a community block party on October 3. Progress has included the acquisition and demolition of several previously vacant and blighted structures and the acquisition of other less deteriorated property which will be renovated for future owner occupancy.

Vermont Business Magazine Governor Peter Shumlin and Agency of Human Services (AHS) Secretary Hal Cohen announced today that for the second time this year Vermont has received from the US Department of Agriculture a bonus for increased performance in the Supplemental Nutrition Assistance Program (SNAP), which offers nutrition assistance to eligible, low-income individuals and families. The bonus of $252,344 comes on top of a $293,000 bonus received in July.

The decision to award a performance bonus is based on a state’s Program Access Index (PAI) for calendar year 2014. The PAI uses Census data to calculate the number of SNAP participants by dividing the number of eligible people in the state by overall participation. Vermont’s calendar year 2014 PAI was 92.99 percent, one of the highest in the country.

Vermont Business Magazine divvi, a Vermont-made mobile app dedicated to transforming the consumer recommendation ecosystem, has a lead investor for its first public funding round. divvi elegantly captures the power of product recommendations from experts and trained sales associates. The app, available in the iTunes store, provides retailers with a way to bridge in-store retail experiences with online shopping. In doing so, divvi has solved a major pain point for retailers. Consumers often visit a retail store, try on an item, and then go buy it online. divvi allows a retail sales associate to send the customer a link to the product they are interested in buying. When the customer buys the product using divvi, everybody wins.

Vermont Business Magazine The Data & Analytics division of Black Knight Financial Services, Inc (NYSE: BKFS) has released its latest Home Price Index (HPI) report, based on July 2015 residential real estate transactions. Home prices continue to rise nationally. Even Vermont, which despite showing an increase in home sales in recent months has lagged in price, was up 0.7 percent from June, which ranks 6th in the nation. The Black Knight HPI combines the company's extensive property and loan-level databases to produce a repeat sales analysis of home prices as of their transaction dates every month for each of more than 18,500 U.S. ZIP codes. The Black Knight HPI represents the price of non-distressed sales by taking into account price discounts for REO and short sales.