Current News

Vermont Business Magazine Kyocera Solar, Inc of Arizona announced Tuesday a partnership for an innovative Community Solar Array (CSA) Program in Vermont that offers a new and cost-effective way to participate in solar. This unique program is a group effort coordinated by Kendall Sustainable Infrastructure (KSI), an impact investment firm and principal sponsor; Kyocera, a leading solar manufacturer providing solar panels and additional capital; and SunCommon, Vermont’s largest residential solar company heading project development, EPC and ongoing support. Kyocera’s solar panels and equipment installed on the ground within Vermont communities will allow consumers to take advantage of solar power without needing to install their own rooftop systems.

Vermont Business Magazine To celebrate its new solar-powered branch on Putney Road, Brattleboro Savings & Loan has launched Brattorama, a community-based game that charges area residents with collecting game pieces from various businesses to win prizes, now through Wednesday, September 23. The new location in Black Mountain Square on Putney Road, Brattleboro opened on Monday, Aug. 31, and is the latest entirely solar-powered bank branch operated by BS&L, which became the first completely solar-powered bank in Vermont earlier this year.

Vermont Business Magazine Working adults looking to finish their undergraduate college degree now have two new programs to choose from through Norwich University’s online programs. Norwich University’s College of Graduate and Continuing Studies (CGCS) has launched two online degree completion programs, the Bachelor of Interdisciplinary Studies and Bachelor of Science in Management Studies. Set to begin their first trimester in January, the programs spotlight both Norwich’s commitment to academic excellence and meeting the student demand by expanding its online degree program offerings.

Vermont Business Magazine Today, Governor Peter Shumlin announced a number of staff changes across his Administration. Department of Finance and Management Commissioner Jim Reardon will be retiring from state service after almost 30 years. Reardon has served as Finance Commissioner since February 2005. Prior to that he served as Deputy Finance Commissioner and Financial Operations Manager for the Agency of Human Services.

Current Department of Corrections (DOC) Commissioner Andy Pallito will replace Reardon as Finance Commissioner. Pallito has over 20 years in State government experience. He joined the Agency of Human Services in 1992, DOC in 2001, and became Commissioner in 2008.

Jim Reardon. VBM photo

Vermont Business Magazine Green Mountain Power CEO Mary Powell was joined today by Congressman Peter Welch, Governor Peter Shumlin, Rutland Mayor Chris Louras, and community leaders to announce that Rutland, Vermont is the Solar Generation Capital of New England. More solar power is generated in Rutland per capita than in any other New England city. This has been a goal years in the making as the community has come together to make energy innovation a key to economic development and Rutland’s revitalization.

Vermont Business Magazine The Agency of Commerce and Community Development (ACCD) has released a Request for Proposals (RFP) to procure consulting services to develop a strategic and tactical economic development marketing plan to promote the state of Vermont as a great place to live, work and do business. The RFP has been posted on the Vermont Bid Board (vermontbidsystem.com). Responses are due by October 1, 2015.

Act 51, signed into law in June 2015, directed the ACCD to build on the work of the Department of Tourism and Marketing in establishing Vermont as a worldwide leader in the global tourism market, and to foster Vermont’s growing reputation as a place where entrepreneurs, innovators and businesses of all sizes can start, grow and succeed.

Vermont Business Magazine The Vermont Community Loan Fund (VCLF), a nonprofit, mission-driven lender, has been awarded a $786,840 grant from the US Department of Treasury’s Community Development Financial Institutions (CDFI) Fund. The CDFI Fund awards grants to build capacity of loan funds and other financial institutions serving communities that lack access to financial resources. The grant will support VCLF’s community-focused loan programs, providing permanent lending capital to Vermont’s small businesses, early education and child care programs, community facilities and developers of affordable housing. VCLF’s lending programs focus on creating opportunities leading to healthy communities and financial stability for all Vermonters.

Vermont Business Magazine Davis and Hodgdon Associates CPAs conducted its semi-annual economic survey in July regarding the outlook of Vermont-based businesses, which revealed that 51 percent of those surveyed would leave or make plans to leave Vermont. Small- to medium-sized business owners were asked about their consideration of relocation outside of Vermont (as a result of overall tax burden) of both their business and residency. A significant portion of respondents (20%) have put plans in motion during the past 12 months to move their residency outside Vermont. Nearly half (45%) of respondents have considered (but not seriously) moving, while 34% have not considered relocating. Several of those that would move their residence are in the professional/technical industry (27%). Many of those with plans in motion are small business owners with 1-10 employees (43%) or owners of larger businesses with 75+ employees (29%).

by Timothy McQuiston Vermont Business Magazine Vermont Auditor Doug Hoffer has taken the Vermont Training Program to task for lack of internal controls and how wage improvements are reported, while questioning why a handful of some of the largest corporations in the state received the majority of direct business training funds. Hoffer said that the report, released today, September 15, is “not an audit per se; rather, a special investigation (technically, a non-audit inquiry).”

The annotated report says that workforce education and training are vital to the economy. Strategic investments in human capital increase productivity, which should result in higher wages and profits.1 The State of Vermont has supported workforce education and training for many years using taxpayer funds to help businesses and employees meet their training needs. The largest such state-funded effort is the VTP.

Vermont Business Magazine The Velan Valve plant in Williston will lose about five workers as the steep fall in oil prices has caused its Montreal-based parent company to cut back. VBM estimates that there 160 employees in Vermont. Velan reports that it did $150 million in revenues in 2014. In the context of the downturn affecting the oil and gas industry, Velan Inc (TSX: VLN), a world-leading manufacturer of industrial valves, is reducing its number of employees by about 110 through a combination of temporary layoffs and elimination of certain positions in its North American facilities.

Vermont Business Magazine Vermont nearly swept the first annual Loving Support Award of Excellence, winning four of the nation’s five top honors (Gold Premiere), which recognizes state programs that champion peer counseling support for new breastfeeding mothers.

A total of 55 awards were given nationally, but only five WIC agencies in the nation received the top award. California was the only other state to win the Gold Premiere award from the US Department of Agriculture, Food and Nutrition.

Jessica LaClair, the senior breastfeeding peer counselor in the Burlington District Office, received the award on behalf of her district on August 25 at the Health Department central office.

Vermont Business Magazine The Mt Ascutney Prevention Partnership (MAPP), a prevention coalition based at Mt Ascutney Hospital and Health Center, was recently awarded a $45,000 grant from The Fanny Holt Ames and Edna Louise Holt Fund. The Fund was created to provide support to not-for-profit organizations serving the health and medical needs of individuals living in communities surrounding Grafton, Vermont.

The Holt Fund grant will be used primarily to help support the Prevention Partnership’s mentorship collaboration with the Springfield Prevention Coalition (SPC). In its grant application, MAPP noted the critical need for prevention efforts in the Springfield, VT community, where, according to a 2013 Springfield School District Report on high school youth risk behavior, 30% of students drank alcohol, smoked cigarettes, 26% used marijuana and 3% used a prescription drug not prescribed to them.