Current News

A new report by American Legislative Exchange Council shows that Vermont is ranked 22nd for economic performance and 49th for economic outlook. Though Vermont is ranked 48 for both tax burden and state minimum wage, it is ranked 8 for state liability system survey and 9 for sales tax burden. As states face their toughest budgetary climates in a generation, the authors of the report point out what states should and should not do to alleviate the fiscal pain.
The third edition of Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index shows how many states responded to the economic crisis with higher taxes, new spending, and more debt. Instead of continuing down this road to a financial meltdown, the authors outline the steps states can take to bring about economic recovery.

The Vermont Clean Energy Development Board has awarded over $1.7 million worth of grants supporting 14 clean energy projects at public serving institutions across the state.
The Clean Energy Development Board is excited to support these public serving institutions with clean energy grants. These funds will help these institutions save energy and money which will, in turn, benefit Vermonters throughout the State. said CED Board co-Chair Robert Dostis.
The grants allocate funds received by Vermont from the federal American Recovery and Reinvestment Act (ARRA). In 2009 the state legislature allocated $2 million of the ARRA funds to be used to support clean energy projects at public serving institutions which was defined as hospitals, colleges, universities and government buildings.

By Art Edelstein, Vermont Business Magazine -- Vermont s computer and related electrical machinery manufacturing sector, dominated as it is by IBM in Essex Jct, is rebounding from the recession and sees some positive signs for the near future. The notable loss is the closing of Suss MicroTec, a stalwart of the state's high-tech seen. Upwards of 100 jobs will be lost at the Waterbury manufacturer.
IBM itself hired more than 200 workers for its manufacturing plant last year and is in the process of filling an additional 100 jobs since April.
These are full-time, long-term supplemental positions for both day and night shifts with benefits, said Big Blue spokesman Jeff Couture. Thirty to 40 positions remain to be filled.

In spite of the softening real estate market, Vermonters earning the median income still could not afford the median priced home, according to a new report released today.
The report, “Between a Rock and a Hard Place: Housing and Wages in Vermont,” is the latest in an annual series that tracks housing costs in relation to Vermonters’ incomes. For the last several years, Vermont’s tight housing markets have driven up prices while wages, particularly those employing the most Vermonters, have not kept pace. During the recession, even as home prices drop, opportunities for low-income and first time buyers were limited due to high fees and higher interest rates for buyers with moderate credit scores.

The state Public Service Board gave a final order and certificate of public good to The Georgia Mountain Wind project to build a five-turbine wind facility on the Georgia-Milton town line. The Georgia Mountain Community Wind project would account for a percentage of transmission costs for about 3,500 homes in north-west Vermont.
According to the Burlington Free Press, more than 400 residents between the two towns signed a petition against the project. People are concerned about the environment, the noise, and the real estate value of the land nearby.
At the board's public hearing, they ruled that 32 conditions must be met by the developer, including: negotiate setback agreements with owners of adjacent properties, submit detailed blasting plans, establish protocols for shutting down turbines during icy conditions, monitor bat and bird fatalities for several years after operation begins, and restore desturbed land.
Source: Public Service Board Orders 6.11.10

The Vermont Agency of Transportation (VTrans) on Monday, June 21, will begin work to improve the Exit 15 northbound off ramp along Interstate 89 in Winooski. The construction is expected to last into the fall, and will affect traffic seeking to exit the Interstate as well as traffic along Route 15. Once construction begins, motorists are encouraged to leave additional time to reach their destination.
Currently, the northbound Exit 15 off ramp has two dedicated left turn lanes heading west toward downtown Winooski along Route 15, and one dedicated turn lane heading east along Route 15 towards St. Michaels College. At the completion of the project, there will be one left turn lane and two right turn lanes onto Route 15.

Aiming to use lawsuits to fight pollution and protect workers, Vermont Law School’s US-China Partnership for Environmental Law has received a $1.5 million federal grant to establish China's first public interest environmental law firm and expand a university-based legal clinic.
China’s rapid industrialization and urbanization have caused severe environmental degradation, including greenhouse gas emissions that contribute to global warming worldwide and hundreds of thousands of deaths a year in China due to exposure to pollution. The crisis has prompted China’s leaders to seek new ways to allow steady growth, while protecting the air, land, water and public health. That’s where VLS’s U.S.-China Partnership comes in, providing training, expertise and aid intended to help China enforce environmental laws and regulations that have been widely ignored.

Citizens Bank has announced it has made a $10,000 donation to the Paramount Theatre in Rutland to support its 2010 season.
“We are just delighted that Citizens Bank is generously supporting our upcoming 2010 season,” said Bruce Bouchard, executive director of the Paramount Theatre. “We appreciate Citizens Bank’s partnership and commitment, and we are grateful to the entire team at Citizens Bank, who have been fundamentally important in the building of a new era at the Paramount.”
Citizens Bank will help sponsor the remainder of the Paramount Theatre’s 2010 season featuring the following shows: Guys & Dolls, Electric Hot Tuna, Brandi Carlisle, Tower of Power, Garbo and Me, Menopause the Musical, Robert Randolph and the Family Band, Taylor Hicks, John Hiatt Solo, Death of a Salesman, Benjamin Moser Pianist, Rhythm of the Dance, Victor Wooten, Ron White, Ani DiFranco, Spencer’s Theatre of Illusion, and Garrison Keillor Christmas.

Vermont officials gave in after refusing to leave the $250 federal rebates for prescription drug costs to seniors. Much of the reason they changed their plan was because collecting $250 checks from people who receive them in the mail would have been complicated. Senator Patrick Leahy and Senator Bernie Sanders applauded the state's decision to make this change.
The rebate checks are intended to provide fiscal relief to seniors, not states, said Secretary Sebelius in a letter yesterday to Governor Douglas. Seniors who enter the donut hole have serious illnesses, take more medication, and need additional financial help. They have extremely high out-of-pocket costs; for example, they must personally spend at least $2,830 to qualify for rebate checks in 2010.

Senator Bernie Sanders (I-VT) today urged the Senate to repeal $35 billion in oil and gas industry tax breaks. In a letter to colleagues, Sanders made the case for his amendment to a tax bill now before the Senate. The same loopholes were targeted for elimination by President Obama in his proposed budget for next year.
“Over the last decade, the five largest oil companies (Exxon Mobil, Chevron, ConocoPhillips, BP and Shell) made more than $750 billion in profits. These profitable companies simply don't deserve tax relief,” Sanders said in a letter to other senators. “With a record-breaking $13 trillion national debt and an unsustainable federal deficit, the last thing we should be doing is giving tax breaks to oil and gas companies that have been making enormous profits.”

The Vermont Energy Investment Corporation (VEIC) and American Municipal Power, Inc. (AMP) have signed a contract for VEIC to provide a wide range of energy-efficiency and implementation services for the municipal electric utility members of the Columbus, Ohio-based nonprofit wholesale power supplier. AMP s 128 publicly-owned municipal electric system members serve more than 570,000 customers in six states Ohio, Pennsylvania, Michigan, Virginia, Kentucky and West Virginia.
The goal of the new venture, known as the Efficiency Smart Power Plant, is to encourage residential, business and industrial customers to adopt cost-effective energy efficiency services that provide reliable and verifiable cost savings. In addition to lowering customers energy bills through efficiency, the Efficiency Smart Power Plant will stimulate local economies, create green jobs, provide technical resources for AMP s member utilities and establish a platform for sustainable growth.

Vermont personal income tax withholding continues to under perform, leading to general caution as the end of the fiscal year nears on June 30. However, Secretary of Administration Neale F Lunderville said it appears that state tax revenues will be on target for the first time in two years. Lunderville released the May 2010 General Fund Revenues today. May is the 11th month of fiscal year (FY) 2010. General Fund revenues totaled $51.70 million for May 2010. They were -$5.54 million or -9.67 percent below the $57.24 million consensus revenue forecast for the month. These May results reduced the year to date General Fund performance of $934.98 million to +$1.97 million, or +0.21 percent ahead of target.