Current News

On September 27, 2010, President Obama signed the Small Business Jobs Act of 2010 into law, putting more resources into the hands of small businesses so they can create more jobs and retain those they already have. The Act will make a tangible difference to scores of Vermont businesses waiting in the US Small Business Administration’s loan queue.
After the Recovery Act passed in February of last year, the SBA was able to help small businesses get Recovery loans by reducing or eliminating loan fees and increasing the SBA-backed guarantee to 90 percent. When the funds for these loans were exhausted, SBA activated a Recovery Loan Queue as a sequential ‘holding tank’ for businesses interested in waiting for the availability of additional funds, either through the cancellation of previously-approved loans or through Congressional extension of Recovery Act programs.

Jim Currier and his Currier’s Quality Market in Glover, was honored by the Vermont Grocers' Association with the VGA ‘Retailer of the Year’ award during the association’s annual convention at the Sheraton Burlington. The award was presented in recognition of their involvement with the community, food industry, store operations and customer service.

More than 100 people came out on a rainy night last week to attend the Open House at Manufacturing Solutions Inc. The event was the official unveiling of the company’s new 92,000 square foot facility. The move into the larger facility accommodates both growth that the company has seen in the past year and anticipated new business. According to Hirchak, the company is poised for double-digit growth in the next fiscal year.
In his remarks at the event, Garret Hirchak, MSI founder and CEO, was quick to credit his employees and clients for working together toward the vision of keeping jobs and superior manufacturing right here in Vermont. ‘While many companies are downsizing and moving manufacturing over seas to cut costs, our customers are working with us to find ways to keep that work in the U.S. That helps the economy of Vermont and of the country.’

For the week of September 25, 2010, there were 645 new regular benefit claims for Unemployment Insurance, a decrease of 14 from the week before. Altogether 7,266 new and continuing claims were filed, a decrease of 71 from a week ago and 2,118 fewer than a year earlier. The Department also processed 3,297 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), 560 more than a week ago. In addition, there were 1,420 Second Tier claims for benefits processed under the EUC08 program, which is an increase of 17 from the week before. The Unemployment Weekly Report can be found at: http://www.vtlmi.info/. Previously released Unemployment Weekly Reports and other UI reports can be found at: http://www.vtlmi.info/lmipub.htm#uc

Central Vermont Public Service and Green Mountain Power are advising customers in the southern half of Vermont of the potential for significant wind and heavy rain damage that could cause extensive damage and power outages this evening and into Friday. Customers across the state could see scattered power outages this afternoon and into Friday.

The state has given the Town of Colchester a green light for a Tax Increment Financing District within the Severance Corners Growth Center, a move that will assist the town’s development efforts there.
The district, approved recently the Vermont Economic Progress Council, will allow the town to keep some of the incremental property taxes generated by new development within the Growth Center to fund public infrastructure needed for that development to occur.
‘This authorization will help the town of Colchester undertake and pay for the necessary infrastructure improvements that will foster responsible economic and community development,’ said Karen Marshall, Chairwoman of VEPC.
The panel approved the Tax Increment Financing (TIF) District Plan after many hours of deliberation that included a meeting in Colchester; public comment; and a tour of the town and the proposed TIF District.

Hospital care is expensive and more Vermonters are struggling to pay their bills. All hospitals in Vermont have a free or reduced care policy and this year, they will give away almost $48 million in care. As non-profit institutions, hospitals in Vermont care for everyone who comes through their doors, regardless of their insurance status or ability to pay. Although Vermont enjoys one of the lowest uninsured rates in the country, more and more Vermonters find themselves unable to pay their hospital bills.
Eligibility for free or reduced care varies from hospital to hospital, but at a minimum they all offer some relief to anyone under 200 percent of the federal poverty level. A few offer free or reduced care to those under 300 percent FPL and some even up to 400 percent FPL.

According to a Form 8-K report to the Securities & Exchange Commission Tuesday, Green Mountain Coffee Roasters, Inc completed a sale of 8,566,649 shares of its common stock, par value $0.10 per share, to Luigi Lavazza S.p.A., an Italian corporation, for an aggregate purchase price of $250 million. The Waterbury company employs 1,010 in Vermont and more than 2,000 system-wide. It has been in a buying spree lately on the West Coast and in Canada as its stock price has climbed and sales of Keurig-brand single cup serving systems has taken off.

Two Vermont projects will receive a total of $375,000 in federal funds to support jobs and economic development in the Northeast Kingdom through the Northern Border Regional Commission (NRBC). Governor Jim Douglas joined Senator Patrick Leahy, Senator Bernie Sanders and Representative Peter Welch in announcing $234,000 has been awarded for the Northern Vermont Fiber Optic Connection project and $141,150 has been awarded to the Northern Forest Canoe Trail.
Vermont’s federal delegation ‘ Senator Leahy, Senator Sanders and Representative Welch ‘ were instrumental in creating the NBRC, including authorization of the commission in the 2008 Farm Bill. They secured an initial round of funding for the NBRC in the fiscal year 2011 budget. This $1.5 million appropriation supported the establishment of the commission and funded the grants announced today.

The Vermont Chamber of Commerce today released their 2009-2010 Vermont Chamber Legislative Report Card. The Report Card assesses legislators’ support of economic development and business issues important to the Vermont economy. ‘This Report Card informs members and the public on legislative support of key business issues’ explained Betsy Bishop, Vermont Chamber President. ‘This year’s Report Card illustrates that business issues faired well in the 2010 Legislature specifically increasing funding for tourism promotion, workforce training and a reduction in the capital gains tax,’ added Bishop.
The biennial assessment looks at roll call votes on amendments and bills important to the Vermont Chamber membership. This year’s collection of roll call votes includes the vote to override Governor Douglas’s budget veto in 2009, the capital gains and estate tax votes in both 2009 and 2010 and votes addressing the Unemployment Trust Fund crisis.

Senators Patrick Leahy (D-Vt.) and Bernie Sanders (I-Vt.) and Rep. Peter Welch (D-Vt.) today welcomed the release of $50 million in federal stimulus funds for the ‘Vermonter’ rail line from St. Albans to Vernon, Vt.
The high-speed rail project will be the second in the nation to break ground using funds that Congress approved in last year’s economic recovery act. (Maine’s ‘Downeaster’ line was first.)
The grant was awarded by the U.S. Department of Transportation’s Federal Railroad Administration using economic stimulus money set aside for the High-Speed Intercity Passenger Rail program.
The upgrades to this 190-mile stretch of track will allow trains to travel up to 59 mph ‘ and even 79 mph in some sections ‘ cutting valuable time off the route between St. Albans and Washington, D.C. The improvements could cut an hour off of the trip through Vermont and Massachusetts.

A joint investigation by the Vermont Attorney General’s Office and the U.S. Department of Health and Human Services, Office of the Inspector General, has resulted in a caregiver and his employer being charged with billing Vermont Medicaid for services that were never provided. Attorney General William H. Sorrell announced today that Donald Crawford, age 48, of Bellows Falls, Vermont, and Jessica Kingsbury, 33, were each arraigned on September 28, 2010, in Vermont Superior Court, Criminal Division, Windsor County, on one felony count of Medicaid Fraud.