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Vermont Business Magazine The Vermont Economic Development Authority (VEDA) has approved nearly $11.8 million in financing for commercial, agricultural, energy and small business projects totaling $29 million. VEDA approved more than $5.07 million through the Authority’s Vermont 504 Loan Program. VEDA’s Vermont 504 Corporation, with SBA’s approval, makes SBA 504 loans to eligible and qualified borrowers, funding these loans through SBA-guaranteed debentures which are sold to private investors. The proceeds of the debenture are subsequently loaned to the borrower.

“VEDA is pleased to provide financing for projects that will help small businesses grow, strengthen family farms, and increase the availability of renewable energy in Vermont,” said Jo Bradley, VEDA Chief Executive Officer.

Included among the projects approved for financing through the Vermont 504 Loan Program:

Vermont Business Magazine Lieutenant Governor Phil Scott made it official Tuesday one day after WCAX-TV reported from the Northfield Labor Day Parade that Scott would run for governor. The popular contractor and race car driver is the second Republican to jump in following Bruce Lisman's announcement last week. Last year's runnerup to Governor Peter Shumlin is also considering a run. WCAX reported that businessman Scott Milne also said at the parade that he is still considering another run for governor. Meanwhile, the only Democrats to have declared so far are Speaker of the House Shap Smith and Google executive and 2010 candidate Matt Dunne.

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Matt Dunne announces he will run for governor

Vermont Business Magazine The Vermont Attorney General and the Green Mountain Care Board received support last week in US Supreme Court litigation defending VHCURES, Vermont’s all-payer health care database. The federal government, eighteen States, and numerous public health organizations filed briefs that underscore the importance of Vermont’s and similar databases to improving health care nationwide. “These filings from the federal government and other States are powerful statements that bolster Vermont’s position at the Supreme Court,” Sorrell explained. “Far from being preempted by federal law, Vermont’s program is part of a federally supported national effort to improve health care through sound research and data-driven policies.”

Vermont Business Magazine SW Cole Engineering, Inc, headquartered in Bangor, Maine, has acquired the construction materials testing division of EIV Technical Services, a Williston, Vermont-based firm that provides services in the fields of civil engineering, construction inspection, hydrology, survey, environmental permitting, and historic assessment. SW Cole Engineering Inc, a 36-year-old geotechnical engineering, construction materials testing and geoenvironmental services firm with 90 employees and offices in Vermont, New Hampshire and Maine, has acquired EIV’s construction materials testing equipment and their laboratory and is currently accepting applications for field and laboratory technicians. EIV will retain all of its services aside from construction materials testing and will continue to grow and operate in Williston.

Vermont Business Magazine As part of Governor Peter Shumlin’s health care reform agenda, Vermont launched in 2014 an effort to encourage health care providers to better coordinate care for patients, reduce unnecessary tests, improve health outcomes, and save money in a health care system that is spending it faster than Vermonters can afford. The year-one results are in and they show that the effort helped avoid $14.6 million in health care costs last year alone.

“The constant rise in health care costs is the single largest drag on affordability in this state,” Shumlin said. “Our goal going into this program was to figure out how to spend less money while keeping Vermonters healthy. The success we had in year one is incredibly encouraging and shows that we’re on the right track when it comes to bending the cost curve on a health care system that spends money faster than Vermonters can earn it.”

Vermont Business Magazine Cathedral Square has appointed Kim Fitzgerald as its new CEO. For 15 years, Kim has served in many capacities within Cathedral Square, a Vermont-based nonprofit organization. In the last three years Kim has held the combined role of Chief Operations Officer and Chief Financial Officer.

“I joined Cathedral Square 15 years ago to be part of an organization I truly believe in,” states Fitzgerald. “Today, I am grateful for the opportunity to lead our amazing team and achieve our vision of creating healthy environments where Vermonters have access to affordable homes and the health and service supports they need.”

Vermont Business Magazine Governor Peter Shumlin today joined with the Drug Enforcement Administration (DEA), US Attorney Eric Miller, and Vermont Sherriff Association President Roger Marcoux to announce a drug take-back day in Vermont on September 26^th from 10 am to 2 pm. Vermont’s drug take-back day is part of a nationwide effort being led by the DEA to ensure the safe disposal of unwanted, unneeded, or expired prescription drugs.

Vermont Business Magazine Vermont Health Connect’s application and account log-ins will be unavailable to the public beginning tonight as the state’s health insurance marketplace completes the transition to a new system host, a key step to allow for the delivery of automated renewal functionality by the end of this month. Vermont Health Connect (VHC) expects to return to full service Wednesday morning.

The hosting transition involves moving VHC system infrastructure from CGI to Optum. VHC system development work was transitioned from CGI to Optum last October; however, CGI continued to provide system hosting services. That system hosting service is now being transitioned to Optum.

by Mike Smith Former Wall Street executive and Vermont native Bruce Lisman announced last week he would be seeking the Republican nomination for governor of Vermont. He surprised some observers by opting to run as a Republican instead of an independent. While it’s no surprise Lisman leans right of center, he’s gone to great lengths to position his Campaign for Vermont organization as nonpartisan. Some assumed he was trying to avoid the confines of party politics.

Had Lisman chosen to run as an independent there was fear among Republicans and some moderate Democrats that he would siphon votes away from likely Republican gubernatorial candidate Phil Scott, handing the general election to the Democrats.

It is said that the potential of being a spoiler weighed on Lisman, who believes strongly that Vermont’s economic policies and state government require substantial improvement. And that’s why he chose the path that he did.

by Timothy McQuiston Secretary of State Jim Condos and others are right to call for transparency and open government. But they’re wrong about calling for an Ethics Commission. Presumably, such a panel would rule independently and keep an eye on government officials. It would act like the Public Service Board, which is a quasi-judicial, appointed board that regulates utilities. But I just can’t see why it’s necessary since most ethics complaints regard the revolving door or personal relationships.

This is Vermont. It’s a small state. Frequently the best person for the job is someone who’s married to someone else who’s in an important position, or is someone with an area of expertise who worked outside of government, or someone who once worked in government, worked outside and then came back. If there’s a revolving door involved but everyone knows it, then it’s not a big deal.

by Governor Peter Shumlin When Julia Dunn arrived at middle school, she learned something troubling about education in her community. Students from certain towns were well prepared in math, and students from some other towns were not. Some students had strong arts education in elementary school, and others did not. Some had studied foreign languages, and some had not. The preparation her peers received — or didn’t — in elementary school affected their choices in middle school and beyond. Not addressing this inequity when it is so obvious, she observed, sends the message that we support inequity.

Vermont Business Magazine Representatives from Rutland Young Professionals (RYP), Castleton Downtown and the Vermont Center for Emerging Technologies (VCET) have finalized the schedule for the first-ever Young Professionals Summit of Vermont and announced the list of expected guests. The Summit will be hosted at the Paramount Theatre in downtown Rutland on Saturday, September 12 from 10:00am to 4:30pm. Any Vermonter in their 20s, 30s or 40s, regardless of their job, is invited to attend the event.