Current News

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.

SEE STORY

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.

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.

Changes to disability provisions administered within the Vermont State Employees’ Retirement System will ensure continuing eligibility for retirees on disability, while including a verification process of outside employment to make adjustments to retirement benefits when warranted.

“This update to the disability provisions within the VSERS retirement laws will enable us to ensure someone is not receiving disability payments while gainfully employed elsewhere,” said State Treasurer Beth Pearce. “At the same time, we are providing re-employment opportunities for retirees that are no longer disabled.”

The following changes were made as part of the miscellaneous retirement bill, Act 18, signed into law by the Governor on May 7.

• System members receiving a disability payment must annually file a statement with the State Treasurer certifying the full amount of income earned during the preceding calendar year.

Keurig Green Mountain, Inc (NASDAQ: GMCR), a leader in specialty coffee, coffee makers, teas and other beverages with its innovative brewing technology, has launched Laughing Man coffee for the Keurig hot brewing system. Laughing Man was co-founded by actor Hugh Jackman, who continues to be involved with the brand, working closely with Keurig on its development.

Laughing Man K-Cup pods are available on Keurig.com starting June 4, 2015. The four varieties at launch include two of the Laughing Man Café’s most popular blends, crafted in collaboration with the Keurig Coffee Department - Dukale’s Blend™ and 184 Duane St. Blend.

Fitch Ratings affirms the senior notes at 'Asf' issued by Vermont Student Assistance Corporation (VSAC), education loan revenue bonds, senior series 2014A, tax-exempt fixed rate bonds, (VSAC 2014A). The Rating Outlook remains Stable for both classes.

After over a year of research and development, the Agency of Agriculture, Food & Markets (AAFM) and Agency of Commerce and Community Development (ACCD) has announced the creation of a Vermont retail stand within the Boston Public Market, opening next month. Harlow Farm of Westminster, VT will operate the stand, demonstrating an innovative public-private partnership that will open a new market channel for dozens of Vermont companies in the Boston metro region.

“Harlow’s Vermont Farmstand” at the Boston Public Market will be an important component of the state’s recently created Domestic Export program, designed to connect Vermont producers with buyers outside the state. Positioned in the heart of downtown Boston, the retail space will provide the state with a premier location from which to promote Vermont products to out-of-state consumers.

Burlington Telecom, Burlington’s only 100 percent fiber-optic network, received high marks in its recent Internet Service Provider (ISP) Customer Satisfaction Survey, a survey for all Burlington residents who pay for home Internet services. The results indicated that 85 percent of BT customers are satisfied with their Internet service, compared to competitors’ 40 percent customer satisfaction in Burlington.

"Our goal and our focus is 100% customer satisfaction," said BT’s General Manager Stephen Barraclough. "We are pleased with our efforts to serve customers, and we will continue to challenge ourselves to improve, with an ultimate goal of reaching 100% satisfaction."

With the launch of Excelerate Essex (E²) – a co-working space – Essex is open for startups. An open house at the new Excelerate Essex will be held on Friday, June 5 from 4 PM to 8 PM at 15 Pearl Street (aka Route 15), just off Five Corners. This public opening is the first chance the community will have to see the new facility and is the first chance Vermonters with business ideas and business plans will have to learn about the affordable membership structure and plans to build a community based on collaboration and sharing of resources.

Vermont Business Magazine Nearly 30 years ago, Gordon’s Window Décor was a one-man-operation. Gordon Clements would sell an order of blinds, go home to custom make the order in his basement and the following day he would perform the installation. Once business started picking up, Clements moved out of his basement to a commercial space at Fort Ethan Allen in Essex Junction. There he steadily grew his business for the next 25 years. Once the company outgrew its space, the Clements decided to move their operation to a new facility in Williston. The new building doubled its production space, provided better shipping and housed more employees. 

The Vermont Community Loan Fund (VCLF) announced the launch of their new Food, Farms & Forests Fund at a celebration on May 20 held at Shelburne Farms. The Fund, explained VCLF Executive Director Will Belongia, is a new capital resource dedicated to investing in Vermont's healthy foods, sustainable agriculture and natural resources “For the past twenty years, the Loan Fund has been lending for food, farms and forests. This new fund is both the rebirth and recommitment of VCLF’s energies in addressing the capital hurdles faced by emerging food, farm and forest enterprises,” Belongia told a sizeable crowd of VCLF investors & borrowers, supporters, partners and friends.

Financing of $12 million was approved by the Vermont Economic Development Authority (VEDA) to help support Vermont economic development projects totaling over $32 million. Several manufacturing expansion projects were approved for VEDA lending, as were agricultural, energy, entrepreneurial and small business projects. Businesses receiving financing include Cabot Hosiery Mills (Darn Tough Vermont), Northfield, $1.2 million; Maple Landmark, Inc., Middlebury, $742,500; and Tivoly, Inc, Derby Line, $342,765.

Maple Landmark toys