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Vermont Business Magazine Vermont Electric Cooperative (VEC) has announced the distribution of $500,000 in patronage capital funds to member-owners in 2015. Patronage capital is each member’s share of remaining funds after the cooperative utility pays its operating expenses. It is the member’s equity in the co-op and one of the benefits of being a member-owner. The VEC Board of Directors determines annually whether the co-op is in a strong enough financial position to return portions of patronage capital to members, and, if so, they decide which years and what percentage from those years to refund. Including this distribution, VEC has returned $1,850,000 patronage capital dollars to active and former members.
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Vermont Business Magazine The US Environmental Protection Agency (EPA) is extending the public comment period on the Phosphorus Total Maximum Daily Loads (TMDLs) for the twelve Vermont segments of Lake Champlain until October 15, 2015. On August 14, 2015, EPA made the phosphorus TMDLs for the Vermont segments of Lake Champlain available for public comment. The comment period was set to expire on September 15, 2015. In response to requests for additional time, EPA is extending the comment period for 30 additional days, until October 15, 2015.
Further information and copies of the Lake Champlain TMDLs may be obtained on-line at http://www.epa.gov/region1/eco/tmdl/lakechamplain.html or by requesting a copy from the contact listed below.
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by Vermont Secretary of State Jim Condos September is National Voter Registration Month. A national, non-partisan campaign by non-profit and voter advocacy organizations will also celebrate September 22, 2015, as National Voter Registration Day. Voting is at the very core of our democracy! Our system of government works because “we the people” participate in its organization. This right is enshrined in both the United States and the Vermont Constitutions. Vermont led the nation long ago in extending the right to vote to all eligible citizens by removing property ownership as a prerequisite to voting eligibility. I believe that we should remove any and all unnecessary barriers to the exercise of this critically important right, and my office continues to work toward this end.
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Vermont Business Magazine Governor Peter Shumlin announced today that Agency of Transportation Secretary Sue Minter will step down after serving in the Administration since 2011. Shortly after the governor's announcement, Minter said on Twitter that she was running for governor. Shumlin has appointed current Deputy Secretary Chris Cole to lead VTrans following Minter’s resignation, which takes effect at the end of the day Friday. Minter has been mentioned as a possible Democratic gubernatorial candidate. A copy of her resignation letter to the governor is below.
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Vermont Business Magazine Presented by Alexandra Cousteau – global water advocate and granddaughter of legendary storyteller and explorer Jacques-Yves Cousteau – The Blue Legacy Newsroom aims to be the go-to source for identifying and understanding important water events. Creating greater awareness of water events and sustainable water stewardship, the Blue Legacy Newsroom, a partnership between Blue Legacy International and The Global Environment & Technology Foundation (GETF), with support from Vermont-based Keurig Green Mountain, Inc (NASDAQ: GMCR), has unveiled its first pilot video news stories exploring the nutrient pollution challenges and toxic blue algae on Lake Champlain, Vermont.
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by Jon Anderson The Vermont Legislature recently enacted Act 64, “An act relating to improving the quality of state waters.” On August 14, 2015, the United States Environmental Protection Agency proposed a draft phosphorus total maximum daily load (“TMDL”) limit for Lake Champlain, which will be finalized later this year. Together, the two documents establish a framework for improving the quality of Vermont’s waters, including the prevention of blue-green algae blooms in Lake Champlain.
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Vermont Business Magazine New Englanders could have saved approximately $3.7 billion in wholesale electricity costs during the 2013-2014 ‘Polar Vortex’ winter had the proposed Northeast Energy Direct Project (NED) been in service, according to a study by ICF International, commissioned by Tennessee Gas Pipeline Company, LLC (TGP), a Kinder Morgan, Inc (NYSE: KMI) company. The study also concluded that the additional gas capacity that NED would provide could generate $2.1 billion to $2.8 billion in annual savings going forward for New England electric consumers under normal weather conditions.
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Vermont Business Magazine The Vermont Department of Labor will be sponsoring a large Job Fair on Tuesday, September 15, 2015, at the Sheraton Inn & Conference Center on Williston Road, South Burlington, Vt. The event is free to all, and doors will open to the public at 10:00 AM and will close at 5:30 PM. The interest from the Vermont business community has been strong, with more than 60 employers scheduled to attend, hoping to meet and greet with job seekers. Some of the largest employers in the state will be attending. VDOL encourages all job seekers to come, and recommends that job-seekers dress in business attire and bring resumes to present to employers.
The state was initially motivated to schedule a job fair in September by the 200 layoffs Keurig Green Mountain announced in early August.
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Vermont Business Magazine Governor Peter Shumlin today announced the allocation of $2.37 million in state tax incentives for 27 projects, supporting nearly $40 million in downtown and village center construction and rehabilitation projects. Two municipalities will receive sales tax reallocation dollars. In Winooski, the money will support public infrastructure improvements associated with a new downtown hotel. In Montpelier, the award will be used in conjunction with a new multi-modal transit center along the Winooski River.
“It is my pleasure to announce the recipients of the 2015 Downtown and Village Center tax credits – incentives that will support significant redevelopment efforts being made by Vermonters around the State,” Shumlin said. “When we put state dollars to work revitalizing our communities, we not only support local economic development but we also build a better and stronger future for Vermont.”
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Vermont Business Magazine Senator Patrick Leahy (D-Vt.) Wednesday announced $500,000 in grants to four Vermont community organizations in the latest round of funding to prevent and address youth substance abuse in the state. The grants will fund community-based approaches to preventing youth substance abuse, including prescription drugs, heroin, marijuana, tobacco and alcohol. The grants were part of $86 million awarded to nearly 700 communities across the country in Drug-Free Communities Support Program grants by the Office of National Drug Control Policy. The program is a federal grant program that has funded more than 2000 coalitions and currently mobilizes 9000 community volunteers across the country.
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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:
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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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