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The Vermont Council on World Affairs is pleased to announce the sixth annual Vermont international dinner honoring Bill Stenger and the Jay Peak Development Team for their work in "Bringing the world to Vermont and Vermont to the world."

Bill Stenger, Partner at Jay Peak and Burke Mountain Hotel and Conference Center and the entire development team at Jay Peak have been chosen as this year's honorees for their work helping to attract foreign visitors and foreign investment to our state. Bill and his team have traveled the globe promoting Vermont as a premier four-season resort destination and have contributed to the economic vitality and global awareness of Vermont.

Image Source: Vermont Council on World Affairs

by Hilary Niles vtdigger.org If IBM were to sell its computer chip-making unit to California-based Globalfoundries — patents and all, as the company is widely rumored to be considering — would the new owner of Vermont’s largest manufacturing plant even want to keep it? Probably not, according to Len Jelinek, a semiconductor manufacturing industry analyst for the global information firm IHS. National press reports indicate Globalfoundries is primarily interested in IBM’s intellectual property — not the physical plant in Essex Junction — and Jelinek holds the same view. The firms already collaborate and share some patents.

Vermont Business Magazine Don and Shirley Nelson of Lowell today released a copy of the Settlement Stipulation entered into between the Nelsons and Green Mountain Power Corporation in April. The agreement resolves the GMP-Nelson litigation, which includes two payments, one of $50,000 and one of $1.25 million, to buy the Nelsons' land in Lowell. The Nelsons are opponents of the GMP wind farm on Lowell Mountain and said in a statement that they are planning to move from their multi-generation hillside farm in Lowell to a location removed from the wind turbine project.

by Bruce Lisman Vermont faces formidable challenges. Our economy has struggled. The high and rapidly rising cost to live, work and raise a family is squeezing the middle-class. Many young people are leaving the state. Expensive, short-term solutions to budget gaps have severely limited our government’s capacity to invest in critical areas.

Conventional politics and partisanship are not the answer. We need to find a different way to solve problems and overcome challenges that Vermonters face. If we work together and collectively tap into Vermont’s grit, its true character, we can change course and thrive.

As a founding officer of Campaign for Vermont I have had the opportunity to travel across our State for the past four years speaking with all sorts of Vermonters from different geographical areas and backgrounds. I heard great stories of success, but I also listened to a narrative of deep concern.

The Vermont Department of Financial Regulation (DFR) announced important modifications to current securities regulations that would support Vermont entrepreneurship while protecting the interests of investors. The revised regulation, dubbed the Vermont Small Business Offering Exemption (VSBOE), allows Vermont businesses and start-up companies to raise up to $2 million in capital by selling shares in their company to in-state investors. The regulation allows for a simplified process to reduce the regulatory burdens and costs usually associated with securities registration.

The Federal Deposit Insurance Corporation (FDIC) periodically evaluates thousands of banks across the country to determine how well their lending practices contribute to the vibrancy of local communities. Historically, only one in 20 of participating banks earn the coveted “outstanding” rating which is reserved for banks that most effectively meet the credit needs of their local communities. In its most recent examination by regulatory agencies, Union Bank again received an “outstanding” rating for its compliance with the Community Reinvestment Act (CRA).

ReSOURCE has completed its Barre Social Enterprise Expansion Capital Campaign to purchase and renovate the old Beck & Beck #1 granite shed at 30 Granite Street in Barre.

ReSOURCE reached its goal of $1.7 million thanks to over 325 individual, corporate, and foundation donors.

To celebrate its success, and to introduce its new performance space within the Barre store, ReSOURCE has invited its donors, friends, business leaders, and community members to share a big celebration with its staff and board of directors on June 21.

Speakers include Senator Patrick Leahy, Barre Mayor Thom Lauzon, ReSOURCE Executive Director Tom Longstreth, and YouthBuild staff & students.

The event begins at 4:00 pm with a children’s/family concert by the Re-BOPS; socializing and food & drink begins at 5:00, with speeches and thanks at 5:30; followed by an early evening concert by Kat Wright and the Indomitable Soul Band.

by Morgan True vtdigger.org Vermont small businesses required to purchase employee health insurance through the state’s exchange will have to enroll directly with insurance companies for another year, according to Lawrence Miller, the state’s new chief of Health Care Reform. Governor Peter Shumlin originally announced the contingency last year as a stop-gap when the Vermont Health Connect website launched with serious deficiencies. The timeline for completing the small business component has been extended twice. The federal government has given Vermont assurances that it can continue to rely on the carriers for the upcoming direct enrollment period, state officials have said.

The US Small Business Administration has announced certain Private Non-Profit Organizations (PNPs) that do not provide critical services of a governmental nature may be eligible to apply for low interest rate disaster loans. These loans are available following a Presidential disaster declaration for Public Assistance resulting from damages caused by severe storms and flooding on April 15-18, 2014. PNPs located in the counties of Caledonia, Essex, Franklin, Lamoille, Orange, Orleans and Washington inVermont are eligible to apply to SBA. Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.

by Laura Krantz vtdigger.org Connie Norona treats opiate addicts at the Chittenden Clinic. She can tell you stories of excitement and growth and improvement. But Wednesday night, she told a different story. Norona, and about 150 others, gathered in Burlington City Hall to rally for higher wages for HowardCenter workers like herself. Social workers and clinicians at the Chittenden County social services agency say their bosses have improperly withheld a 3 percent raise the Legislature gave them.

“Opiate treatment is working. It works on the backs of the clinicians,” she said, describing how she and her co-workers put in at least eight unpaid hours per week just to complete paperwork for their rising caseloads.

Governor Peter Shumlin will present Vermont Small Business Person of the Year to Bill Cherry and Jeff Neiblum, owners of Switchback Brewing Company in Burlington. The 2014 Vermont Small Business Awards Ceremony is Tuesday, June 17, from 4 to 7 pm at the Shelburne Museum Pizzagalli Center.

Previous Vermont Small Business Person of the Year recipients include Ben and Jerry’s, Vermont Teddy Bear Company and Dealer.com. The Small Business Administration Vermont District Office has awarded Small Business Person of the Year annually since 1967.

Vermont Business Magazine New unemployment claims in Vermont last week remained at a very low level. For the week of June 7, 2014, there were 403 new, regular benefit claims for Unemployment Insurance in Vermont. This is an increase of 3 from the previous week's total, and 243 fewer than they were a year ago. Claims in 2014 have been running signifantly lower than those in 2013.

Altogether 5,016 new and continuing claims were filed, a decrease of 144 from a week ago and 1,049 fewer than a year ago. The Department also processed 13 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), 21 fewer than the previous week.