Current News

The Vermont Economic Development Authority (VEDA) has approved $36.4 million in economic development financing assistance for a variety of large and small business projects. The financing support will leverage additional private investment, generating a total of $104.6 million in economic activity throughout Vermont.
“VEDA is pleased to offer loan and other financing support to a number of commercial, renewable energy, small business, educational and agricultural initiatives,” said Jo Bradley, VEDA’s Chief Executive Officer. “These projects will bring jobs to Vermonters, and help stimulate Vermont’s economy.”
Utilizing American Recovery and Reinvestment Act (ARRA) federal stimulus funds, VEDA approved the following Recovery Zone Facility Bond issuance:

Governor Jim Douglas will be awarded the Ordre national du Québec (the National Order of Quebec) during a ceremony at the National Assembly of Québec on Thursday, March 11.
The Ordre national du Québec is the highest honor awarded by the government of Québec. Instituted in 1984, it consists of three grades – Grand Officer, Officer and Knight – and is presented to Quebecers for outstanding achievements and actions that support Québec, its language and culture. The Premier of Québec may recommend an eminent individual who is not a Québec resident to be awarded the Ordre. Governor Douglas will be awarded the Officer’s Insignia.

TransFair USA, the leading third-party certifier of Fair Trade products in the United States, today announces that it has received a $50,000 grant from Green Mountain Coffee, and a three-year commitment of $925,000 from the Green Mountain Coffee Roasters Foundation. The Green Mountain Coffee Roasters Foundation was established and is led separately from Green Mountain Coffee Roasters, Inc. (GMCR) by GMCR Founder and Chairman Bob Stiller. This generous funding will galvanize TransFair USA’s effort to grow the Fair Trade movement and establish hundreds of Fair Trade Towns across the United States by 2013.
Fair Trade is a multi-stakeholder effort to develop an alternative form of global trade that cultivates greater social justice and equity for farmers, workers, and artisans. It promises fair prices, safe working conditions, worker empowerment, market access and community investment. The Fair Trade Towns USA campaign is headquartered at and sponsored by TransFair USA.

Sovernet Communications, a leading provider of telecommunication services in Northern New England, announced several network infrastructure and equipment upgrades designed to better serve their customers. The changes will enhance both reliability and operational efficiencies, as well as bring new next-generation services to additional markets.

Secretary of Administration Neale F Lunderville announced today that Vermont’s February Revenue Figures were down substantially, especially for the General Fund, which was below the monthly target by nearly $10 million or 17.6 percent lower than anticipated. The General Fund revenues were off $15 million or 2.2 percent for the fiscal year to date. The Transportation Fund was also below the forecast for the month by $520,000 or 3.7 percent and for the year down by one-half percent. The Education Fund was up slightly for the month at $170,000 or 1.6 percent and just barely broke even for the year to date.

Jonathan Leopold, the Chief Administrative Office for the City of Burlington, has sent a Letter to the Editor of Vermont Business Magazine, saying that some statements made in a February 2010 article on Burlington Telecom were inaccurate. He begins by saying, "The story 'City Council Probes Burlington Telecom' in the February issue of VBM was a disservice to your readers and the City of Burlington. The former General Manager of BT, Mr. Tim Nulty, made numerous inaccurate statements and allegations about the finances of Burlington Telecom."
Following is the entire letter sent from Jonathan Leopold to Vermont Business Magazine in response to VBM's article published first in the February issue and then re-published on line.

Secretary of State Deb Markowitz will officially announce her candidacy for governor Monday, at a public event in Barre at the Barre Auditorium's Alumni Hall. Markowitz will tour the state Monday and Tuesday, listening to Vermonters' ideas about jump starting the economy and she will lay out her vision for economic development, education and the state's energy needs.
Source: Markowitz campaign.

Average retail gasoline prices in Vermont moved just 1.6 cents per gallon in the past week, averaging $2.79/g today. This compares with the national average that has increased 4.7 cents per gallon in the last week to $2.74/g, according to gasoline price website VermontGasPrices.com.
Including the change in gas prices in Vermont during the past week, prices today are 84.9 cents per gallon higher than the same day one year ago and are 2.4 cents per gallon higher than a month ago. The national average has increased 9.7 cents per gallon during the last month and stands 80.8 cents per gallon higher than this day a year ago.
About VermontGasPrices.com
GasBuddy.com operates over 200 live gasoline price-tracking websites, including VermontGasPrices.com. GasBuddy.com was named one of Time magazine's 50 best websites and to PC World's 100 most useful websites of 2008.
Source: VermontGasPrices.com 3.8.2010
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City Market, Burlington’s only community-owned grocery store, is officially powered by the sun. After a year of planning and a few weather delays, the installation of 136 solar panels on the Co-op’s roof is completed. The project will generate 31 kilowatts of power which will help the Co-op to reduce its reliance on fossil fuels by at least three percent.

An inspection Friday by Vermont Yankee engineers and technicians revealed a dime/quarter size hole at an elbow in a 1 to 1.5 inch diameter AOG drain line, according to a statement released late Friday afternoon. Water and steam Could be seen coming from this hole. Concrete blocks at the junction of the Advanced Off Gas pipe tunnel and the OG-100 drain line connection have been removed allowing telescopic camera and Remote Operated Vehicle (ROV) inspection of the tunnel.

Governor Jim Douglas today awarded more than $630,000 in Community Development Block Grants to South Burlington, Montpelier, Vergennes, Georgia and Bristol. At a ceremony at the American Legion Post 14 in Vergennes, the Governor announced funding for an affordable housing project for the elderly, as well as money for improvements to make the Georgia and Bristol municipal buildings handicapped accessible.
This project will provide much-needed housing for seniors in Vergennes, with on-site services and easy access to nearby services and the community, Governor Douglas said. These kinds of projects are an important part of Vermont s housing stock, particularly as more of our population seeks to remain in their communities as they age. (See list below)

The Vermont House is expected to begin working next week on an $8.7 million economic stimulus bill that its Senate sponsor says will put a lot of contractors to work.
The federally funded measure, which would pump money into several of the state's economic development programs, passed the Senate on a voice vote last month (see summary attached). Governor James Douglas says he supports the legislation.
The funding is available to Vermont as part of the national economic recovery package developed last year by President Barack Obama and the Democratic-controlled Congress .
Senator Vincent Illuzzi (R-Essex-Orlean), the bill's main architect, says its provisions are intended to help repair some of the damage inflicted on Vermont's economy by the national recession. While there's no firm estimate of the number of jobs the legislation may create or save, Illuzzi suggests that its impact will be felt in many parts of the state and by Vermonters in many industries.