Current News

by Hilary Niles vtdigger.org Workforce development emerged Wednesday as a wobbly cornerstone of economic development legislation being negotiated between two key House and Senate committees.

A single bill encapsulates both committees’ visions for Vermont’s economy. S.220 contains provisions for entrepreneurial lending, access to credit for small businesses, energy costs for manufacturers, domestic export promotion, computer crimes, intellectual property, demographics and tourism, to name a few.

Vermont Business Magazine Entergy Corporation (NYSE: ETR) today reported first quarter 2014 as-reported earnings of $401.2 million, or $2.24 per share, compared with $161.4 million, or 90 cents per share, for first quarter 2013. On an operational basis, Entergy's first quarter 2014 earnings were $410.1 million, or $2.29 per share, compared with $167.7 million, or 94 cents per share, in first quarter 2013. Entergy is the owner of the Vermont Yankee nuclear power plant in Vernon, which is scheduled to close at the end of this year. In large part, Entergy's boost in earning was because of cold weather across the East and an increase in natural gas prices in the Northeast, which drove electric prices up and made its nuclear plants more profitable. The production cost of nuclear power is essentially fixed, so the increase in overall revenues leads to an increase in net revenue.

by Dave Finney, President, Champlain College The state Legislature is working on a bill to reduce the number of school districts in Vermont, from the current 273 to between 45-55. On average, today’s school boards in Vermont focus on the education of only 300 children. The bill (H883) would create a better governance structure for public education, which would result in greater student opportunities and lower costs. While there are many facets to this bill, the following points are very clear:

· School choice within the traditional academy structure and local control will be preserved

· Educational opportunity will improve as districts share advanced courses and other offerings

· High quality early childhood education will be more accessible for all children

The King Arthur Flour Company has announced a ribbon cutting ceremony for its new manufacturing facility will take place at 4:30 pm Thursday, May 1 at 117 Billings Farm Road.

“The new facility will improve our flexibility, capacity and efficiency,” said Dean Hopkins, Director of Manufacturing. King Arthur Flour produces and packages over 275 premium-quality baking mixes, tools and ingredients in its Vermont location for retail sale through its wholesale customers, Baker’s Catalogue and Vermont store.

“We’ve operated out of a corner of our fulfillment center for many years. With this bigger, dedicated space, we can introduce more specialty products,” said Mark Tecca, Director of New Business Development. The new manufacturing facility also houses a chocolate room for the production of hand-made artisan chocolates.

Production in the new location is set to start immediately.

About King Arthur Flour

The US Environmental Protection Agency (EPA) released this month its 19th annual report of greenhouse gas emissions, showing a 3.4 percent decrease in emissions from 2011-2012.

The federal agency attributes the reduction primarily to a decline in energy consumption across all sectors of the U.S. economy, plus the decrease in carbon intensity for electricity generation due to fuel switching from coal to natural gas.

These latest scientific findings are consistent with President Obama’s Climate Action Plan, which supports the role natural gas plays in reducing greenhouse gas emissions and transitioning to a more responsible and sustainable energy future.

“Our energy policy is creating jobs and leading to a cleaner, safer planet,” noted President Obama in his State of the Union Address in January. Speaking about natural gas, he added: “. . . it’s the bridge fuel that can power our economy with less of the carbon pollution that causes climate change.”

Registration is now open for the 30th annual Vermont Chamber Business & Industry EXPO, the largest business-to-business trade show in Northern New England where over 3,000 business leaders and 200 exhibitors can connect and learn how to grow their businesses. EXPO will be at the Sheraton Burlington Hotel & Conference Center on May 21-22.

Business Innovation is the theme of this year’s EXPO, which is free to attendees who register before May 16th. The Vermont Chamber has assembled a powerhouse line up of national business innovators.

During the annual US Senator Leahy Business Breakfast, sponsored by VELCO, Brian Kelley, CEO, of Keurig Green Mountain, will discuss how disruptive technology and core values transformed the Vermont coffee company into a global beverage business.

With the state’s unemployment rate the second lowest in the nation, Governor Peter Shumlin said today it’s key that Vermont’s high school and college students have access to and experience with some of the top employers, and exposure and training in the good-paying, in-demand jobs across the state.

The governor, several Vermont businesses and lawmakers today announced the recipients of federal and state grants through two important internship programs to provide that experience – the federally funded Summer Opportunity Employment program, and the state-funded Internship Program. In addition, Governor Shumlin thanked legislators for their hard work on the Vermont Strong Scholars initiative, which is pending in the Legislature and would help families pay for college and provide more internship and workplace options for students.

SBA Microloan Program. Community Capital is Vermont’s largest volume Microloan lender. After just one year of becoming certified as an SBA Microloan lender, CCVT has originated over 60 percent of Microloans in Vermont over the last two quarters. These are just a few of its SBA borrowers:

♦ Sarah DeFelice is the proud owner of Bailey Road, a new women’s clothing store in Montpelier

♦ Maureen Driscoll Morey has opened Maureen’s Sweet Treats in Barre

♦ Ryan and Jessica Bunce grew their business Barrio Bakery & Café in Burlington with a loan for working capital

During the week of April 27 – May 3, the Vermont Dept. of Forests, Parks and Recreation’s Urban and Community Forestry Program, in coordination with the UVM Extension, the U.S. Forest Service, the Vermont Agency of Agriculture, USDA APHIS, and many dedicated volunteers, will host a series of events that celebrate the valuable contributions that ash trees make to Vermont’s environment and economy, and to the quality of life of Vermonters. Ash Tree Awareness week will kick off on Sunday April 27th, with guided nature walks in nearly every Vermont county. The walks are scheduled to take place throughout the day, and in addition to celebrating ash trees are meant to raise awareness about the non-native Emerald Ash Borer. (EAB)

City Market is continuing its work to increase environmental sustainability this month by joining with the EPA’s GreenChill Partnership and by working with Seventh Generation and Cabot Creamery to give away free, reusable tote bags to customers in celebration of Earth Week.

The Vermont Community Foundation has hired Kilawatt Technologies to slash its energy use. With its sophisticated suite of hardware and software tools, Kilawatt will remotely monitor the energy use patterns in the Community Foundation’s heating, ventilation, and air conditioning (HVAC) system and identify areas of hidden waste. Then, it will eliminate that waste and save the Foundation a significant amount of money.

Kilawatt will install a highly advanced wireless control system in the Community Foundation’s facility. This control system will allow Kilawatt to make HVAC operations transparent to the Foundation so that both the Foundation and Kilawatt can see precisely how the equipment is operating, what the environment is in the room, and what the energy use patterns are.

The Vermont Women’s Fund, a component fund of the Vermont Community Foundation, awarded $105,098 through its competitive grant round this spring to 13 organizations working to improve the lives of young women and girls in Vermont. The grants support programs that provide young Vermont women ages 15-25 with positive relationships and role models; development of self-advocacy skills; and opportunities to learn life-skills, job-readiness, and traditional and non-traditional education and vocation.

The programs range from health career exploration programs for high school juniors and seniors to a visual art program aimed at building self-esteem, communication skills, and independence.