Current News

Governor Jim Douglas today announced he will be leading a delegation of Vermont employers to Asia next month to promote investment through the EB-5 Investor Program. The Vermont EB-5 Regional Center is run through the Agency of Commerce and Community Development and has raised over $100 million in new capital for companies and projects in Vermont.
“I am happy to go to the other side of the world to help great Vermont employers grow and create jobs,” said Governor Douglas. “In this challenging economy, helping home grown Vermont businesses succeed is critical to our recovery.”

With both the Rural Energy Savings Program Act today moving out of the US House and into the US Senate and the Small Business Job Creation Act moving the other way, two bills heavily supported by Vermont's congressional delegation are moving closer to becoming law. The jobs bill especially has been contested for several months.
With Representative Peter Welch’s support, the US House passed legislation that will support rural America by creating 20,000-40,000 jobs, investing in energy efficiency upgrades and saving 1.6 million families on their energy bills. Welch is a cosponsor of the legislation.
By a vote of 240 to 172, the House passed the Rural Energy Savings Program Act (H.R. 4785), which provides low-cost home improvement loans to consumers for energy efficiency upgrades.

IBM (NYSE: IBM) today announced innovative new chip-making technology for power-management semiconductors ‘ the company’s first foray into a segment seen as critical to the development of alternative energy sources, smart buildings and new consumer devices. The new chips for this "Smart Planet" infrastructure will be manufactured at IBM's plant in Essex Junction starting in the first half of 2011.
An IBM spokesman said there will be no specific change in IBM employment in Vermont from this announcement. However, he said the plant has been adding manufacturing employees to handle strong customer demand.

The US Small Business Administration (SBA) is accepting nominations for the 2011 Vermont Small Business Awards. Each year, SBA showcases and recognizes successful and inspiring small business owners and business champions.
Nominators may submit a one-page nomination letter, in any format, to the SBA Vermont District Office by October 15, 2010. Candidates who advance to the final selection stage will be asked to submit a nomination packet. State winners are eligible to compete for regional and national honors.
Each winner will be recognized at a spring gala event, hosted by Vermont Business Magazine, and attended by SBA, the governor, state congressional staff, lenders, the media and other members of the business community. Katy Lesser of Healthy Living was last year's winner. (2010 Winner Story, PHOTOS, VIDEO)
The SBA Vermont District Office is accepting nominations for the following award categories:
o Small Business Person of the Year

The Senate Judiciary Committee Thursday unanimously approved bipartisan legislation to repeal exemptions to the Freedom of Information Act (FOIA) for the Securities and Exchange Commission (SEC) that were enacted as part of the Wall Street reform bill, which was signed into law in July. The legislation is sponsored by Committee Chairman Patrick Leahy (D-VT), and Committee members Chuck Grassley (R-IA), John Cornyn (R-TX), and Ted Kaufman (D-DE).
The legislation will eliminate several FOIA exemptions for certain records provided to the SEC. The exemptions were included in the Wall Street Reform and Consumer Protection Act.

Ken Gibbons, President and CEO of Union Bank, today announced the opening of a new Union Bank Loan Center at 30 Kimball Avenue in South Burlington. The office will focus on residential mortgage loans in Chittenden County initially, with expansion into other product areas planned.
Gibbons underscored the significance of the opening of this office by saying, ‘The South Burlington Loan Center will enhance our ability to meet the lending needs of customers in this area, including residential and investment property loans, construction loans, land loans, and non-conforming portfolio loans. This Loan Center signals our ongoing commitment to being an integral part of the banking community in northern Vermont and northwestern New Hampshire.’

Average retail gasoline prices in Vermont are $2.681 per gallon, as of today. This compares to the national average of $2.751/g. Burlington have fallen 2.1 cents per gallon in the past week, averaging $2.684/g, according to gasoline price website. The Vermont site with actual gas station reports can be found at www.vermontgasprices.com. The Burlington area report can be found at www.BurlingtonGasPrices.com.
Including the change in gas prices in Burlington during the past week, prices yesterday were 2.1 cents per gallon lower than the same day one year ago and are 6.7 cents per gallon lower than a month ago. The national average has decreased 3.6 cents per gallon during the last month and stands 16.0 cents per gallon higher than this day one year ago.

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For the week of September 11, 2010, there were 674 new regular benefit claims for Unemployment Insurance, an increase of 46 from the week before. Altogether 7,378 new and continuing claims were filed, a decrease of 724 from a week ago and 2,426 fewer than a year earlier. The Department also processed 2,681 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), 68 fewer than a week ago. In addition, there were 1,385 Second Tier claims for benefits processed under the EUC08 program, which is an increase of 15 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

Senator Patrick Leahy (D), Senator Bernie Sanders (I), and Congressman Peter Welch (D) today announced a new report detailing the American Recovery and Reinvestment Act’s impact on Vermont’s clean energy economy.
The report, compiled by the Department of Energy, outlines the nearly $140 million worth of ARRA projects the state has benefited from, including local energy efficiency grants, statewide implementation of smart grid technologies and investments in energy-related businesses.
‘This report shows that the Recovery Act is creating jobs in Vermont, upgrading the state’s energy infrastructure and laying the groundwork for future economic development,’ Leahy, Sanders and Welch said.
Included in the report are the formula-based and competitive grants and tax credits Vermont institutions have received, including:
· $16.8 million in Weatherization Assistance Program funds to weatherize 1,600 homes for low-income families.

The City of Burlington announced today that an election schedule for the upcoming November General Election to be held on November 2, 2010 has been posted on the City website as well as at the Clerk Treasurer’s Office in City Hall. In addition to the various State-wide offices which will be decided in the November election, voters in Ward 3 will go to the polls for a special election to choose a City Councilor to fill the remainder of the term of former Ward 3 Councilor Marissa Caldwell, who resigned from her seat as of August 1, 2010. The term for this Council seat ends in March of 2011, when it will be subject to election for a two-year term ending in March of 2013.

by Joyce Marcel, Vermont Business Magazine Spencer R Knapp may be an antidote to bad lawyer jokes. Knapp, 60, is certainly a top lawyer. He was, until recently, the managing partner of the law firm of Dinse Knapp and McAndrew in Burlington - a distinguished and enduring place with about 65 employees, including 30 lawyers. Now he is the full-time senior vice president and general counsel of Fletcher Allen Health Care.

Governor Jim Douglas celebrated the State’s ranking as one of the ten best government portals and websites in the nation by e.Republic’s Center for Digital Government. This is the second year in a row that the Vermont Information Consortium (VIC), the State’s web portal vendor, has received this recognition. The Digital Government Achievement Awards (DGAA) go to outstanding websites and web portals at the state, county and city levels.
‘In the coming years, it is important that we continue improving how state government interacts with Vermonters and visitors over the web. Through Challenges for Change and other efforts across state government we are looking to increase web utilization to both save taxpayer money and deliver services more effectively.’