Current News
by tim
Two days after signing into law an economic development bill last week that will help continue the strong job growth Vermont has seen in recent years, Goveror Peter Shumlin joined with employers to highlight an upcoming job fair with 35 employers looking to fill over 600 positions.
“It’s promising to see so many Vermont employers hiring,” Shumlin said. “Our challenge is to help those employers find workers to fill those positions. So for those looking for work, be sure to mark June 12th on your calendar.”
by tim
Although it is the only New England state not to border the Atlantic Ocean, Vermont is home to businesses that contribute significantly to the construction of the most powerful ships at sea: US Navy aircraft carriers. Two manufacturing companies in the state—Velan Valve in Williston and Champlain Cable Corp in Colchester—perform more than $9 million worth of work for aircraft carrier construction and maintenance.
With a workforce of nearly 300 skilled men and women who provide parts and services for carriers, Vermont is a valuable asset for the aircraft carrier industrial base—the community of small, medium and large businesses that build and maintain these ships. The United States’ ability to sustain a powerful fleet of aircraft carriers to respond in times of crisis depends on this robust and skilled industrial base.
by tim
Vermont Student Assistance Corp. has announced its low fixed rates for Vermont Advantage education loans for the 2015-16 academic year. The Vermont Advantage offers rates as low as 5.50 percent APR for both undergraduate and graduate students who need additional financing for postsecondary education or training. Vermont students attending college in the U.S. or abroad or students from out of state attending a Vermont institution are eligible for this financing.
“The Vermont Advantage is good option for students and families to help make up the difference between the total cost of education and the various kinds of financial aid they already may have received,” said Scott Giles, president and CEO of VSAC. “For 50 years, VSAC has been Vermont’s postsecondary education and training information resource. We are dedicated to working with Vermonters as they continue their studies after high school and helping them to finance their education.”
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by Amy Ash Nixon vtdigger.org Concerns over Vermont Yankee’s decommissioning plan have led a nuclear watchdog group to ask State Auditor Doug Hoffer to find a way to provide public oversight of the $665 million trust fund to be used to dismantle the defunct plant. That amount is about half the estimated cost to decommission the nuclear plant, and the work will not commence until the fund has grown enough to cover the full costs.
The Vernon facility, owned by a subsidiary of Louisiana-based Entergy Corp, ceased to operate at the end of last year after a more than 40 years.
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by Erin Mansfield vtdigger.org The state is looking into reports that customers of FairPoint Communications may have had their telephone lines disconnected without their consent. The Public Service Department testified to the utility-regulating Public Service Board in writing in March as part of the ongoing service quality investigation that started in January. The issue came up again at a public hearing Wednesday.
Representatives of FairPoint testify before that Public Service Board at a hearing in Montpelier. Photo by Erin Mansfield/VTDigger
by tim
On Tuesday, May 19, 2015 the Vermont State Board of Education moved to adopt the National Health Education Standards (American Cancer Society, 2007) and the National Standards and Grade-Level Outcomes for Physical Education (SHAPE America, 2014) to replace respective Vermont grade expectations documents. This important decision mirrors recent resolutions to adopt the Common Core State Standards for mathematics and English language arts, plus the Next Generation Science Standards.
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The Senate Judiciary Committee on Thursday overwhelmingly approved legislation coauthored by Senator Patrick Leahy (D-Vermont) and other leading senators that protects Vermont businesses and innovators who too often become the victims of so-called “patent trolls.” The bill goes next to the full Senate for consideration. The PATENT Act was approved by a vote of 16 to 4. The vote comes after nearly two years of negotiations led by Leahy and other Senate members to craft a comprehensive bill that deters abusive conduct while preserving the strength of America’s patent system.
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Governor Peter Shumlin announced today that Commissioner Susan Wehry has decided to step down after 4½ years leading the Department of Disabilities, Aging and Independent Living. “I want to thank Susan for her hard work and her dedication to improve the lives of older Vermonters and people with disabilities,” Shumlin said. “We can all be proud that under her leadership, Vermont achieved the status of healthiest senior state in the nation.”
“I am grateful to Governor Shumlin for the opportunity to serve in this role,” Commissioner Wehry said. “I am especially gratified that we were able to pass the ABLE Act and Medicaid for Working People with Disabilities this year, both of which will further our efforts to foster inclusion, self-determination and independence for people with disabilities.”
by tim
The University of Vermont Health Network announced today that Standard &Poor’s (S&P), one of the major national bond rating services, has upgraded The University of Vermont Health Network’s bond rating from BBB+ with a positive outlook to an A- rating with a stable outlook. Additionally, Moody’s affirmed their A3 rating with a stable outlook. With this rating upgrade from S&P, the medical center and the network have now earned an A rating from all three major bond rating agencies, which also includes the Fitch rating agency.
Highlights
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The Federal Emergency Management Agency has awarded a $2.1 million grant to Vermont Electric Cooperative for clean-up and repair efforts following December’s severe winter storm. The FEMA grant of $2,130,871 will cover an estimated 75 percent of the total eligible clean-up cost incurred by VEC.
Winter Storm Damon, in December 2014, devastated Northern Vermont, leaving thousands without power and dealing damage to Vermont’s electric utilities that rivaled Tropical Storm Irene and the 1998 ice storm. Freezing rain and accumulating snow brought down trees and power lines across the region, causing almost 45,000 outages in the VEC service territory that affected about 13,000 members.
by tim
Vermont Governor Peter Shumlin today joined PSEG Solar Source, Encore Redevelopment, juwi solar Inc (JSI) and Vermont Electric Power Producers Inc. (VEPP) to dedicate the PSEG Essex Solar Center. The 3.6-megawatt-dc facility is the state’s largest solar farm. The 15-acre PSEG Essex Solar Center (northeast of Burlington International Airport across the Winooski River off South Street in Essex) began commercial operations in October. It uses approximately 12,000 photovoltaic solar panels to generate enough solar energy to power more than 600 homes. Its energy displaces approximately 2,841 tons of greenhouse gas emissions annually – the equivalent of removing approximately 600 cars from the road.
Shumlin called the solar farm a glimpse into Vermont’s future.
by tim
Vermont Business Magazine Weekly unemployment claims in Vermont fell for the second week. After a sharp increase two weeks ago, claims are down to their typically low summer level. There were 444 new, regular benefit claims for Unemployment Insurance in Vermont, a decrease of 50 from the previous week's total and 44 more than they were a year ago. Generally, claims have been running below last year's totals.
Altogether 4,661 new and continuing claims were filed, a decrease of 339 from a week ago, and 499 fewer than a year ago. The Department processed 0 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), the same as the previous week.