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Hartford To Receive Growth Center Grant To Plan For Future Development
WHO: Governor Jim Douglas
WHAT: Award Ceremony
WHY: Presentation of $40,000 grant to Town of Hartford
WHERE: Site of proposed Prospect Street Redevelopment in White River Junction
WHEN: 3:00 p.m. Wednesday, October 29, 2008
MONTPELIER, Vt. - The Town of Hartford will be receiving a $40,000 state grant to help the town in planning for Growth Center designation, a move that will help streamline future development.
Governor Jim Douglas will present a check to town officials at the site of the proposed Prospect Street Redevelopment in White River Junction.
This is the second year that the state has awarded, through a competitive process, a special grant for Growth Center Designation planning. Last year Colchester received the grant.

Voigt named as first appointment to LaMarche Endowed Chair at Saint Michael's College
Essex junction resident, Dennis Voigt, associate professor of accounting at Saint Michael's College, was named the first appointment to the David LaMarche Chair in Business Administration and Accounting at the college in ceremonies on campus Oct. 25. Officiating at the event were SMC President John Neuahuser, PhD; Business Department Chair Robert Letovsky, PhD; Vice President for Academic Affairs Karen Talentino, PhD, and Dean of the College Jeffrey Trumbower, PhD.
The ceremony also included the induction of 26 Saint Michael's seniors and four master's students into Sigma Beta Delta, the international honor society in business, management and administration. Honoree David LaMarche, Emeritus Professor of Business Administration and Accounting, former resident of Essex Junction, was the featured speaker at the induction ceremony.

Welch hires former Vermont journalist as communications director
Washington, D.C. (Oct 28, 2008) Today Rep. Peter Welch (D-VT) announced the hiring of former Brattleboro Reformer reporter Paul Heintz as his new communications director.
Heintz covered statewide politics, the 2008 presidential primary, and local news for the Brattleboro Reformer. Previously, he was a desk assistant for the daily PBS news program "The NewsHour with Jim Lehrer" in Washington, D.C., and interned with the weekly National Public Radio show "On The Media."
"I am extremely pleased to have Paul on our team. His experience as a Vermont newspaper reporter, in daily television production, and in radio will serve him well in this new position," said Welch. "Paul is a talented addition to our hard working staff, each of whom is committed to providing outstanding service to Vermonters every day."

Hubbardton Forge Receives National Design Award
The American Society of Furniture Designers (ASFD) named Hubbardton Forge's Dyad series of table and floor lamps the winner of the prestigious 2008 Pinnacle Award for Design Achievement in Lighting. The accolade was announced during this year's High Point International Home Furnishings Show in North Carolina. Pinnacle judges stated they chose the Dyad collection for the award because it "exhibited strong architectural style softened by relevant materials."

USDA DESIGNATES ALL COUNTIES IN VERMONT AS A PRIMARY
NATURAL DISASTER AREA

Vermont Milk Commission Continues Deliberations
Montpelier, Vt - The Vermont Milk Commission will conduct further hearings as part of its deliberations about whether to issue a retail fluid milk premium. The Commission has also started a separate review of chain supermarket milk prices in Vermont.
The Milk Commission met on October 16, 2008 to review the evidence gathered during the recent hearing held on the Commission's proposed Order to establish a retail fluid milk premium. The Commission's proposed Order would establish a surcharge on all beverage milk sold at retail in Vermont. The surcharge would be imposed on the sale of raw milk used by milk processing companies for the Vermont retail sales, and be collected from the processors. The surcharge proceeds would be distributed to Vermont producers, and also to out of state dairy farmers who provide raw milk used for retail beverage milk sales in the Vermont marketplace.

VTrans Funds Three New or Expanded Public Transit Routes
MONTPELIER - The Vermont Agency of Transportation (VTrans) has announced that it will grant three public transit providers a total of $350,000 so that they can fund new or expand popular public transit routes.
The funding will establish new bus routes along Route 103 as well as Interstate 91. Expansion of an existing bus route will occur along Interstate 89. Many of the routes include stops at Park and Rides so commuters can easily access the service.
"Improving Vermont's public transportation system is one of our priorities," said VTrans Secretary David Dill "These new routes are an important step in helping Vermonters not only maintain their independence but also save money as they can now use a bus to get to work, the hospital and even one of Vermont's signature ski areas."
New or expanded routes include:

BED to Seek Rate Increase
Burlington Electric Department announced October 23, 2008, that it will seek a rate increase of up to 5.9 percent from the Public Service Board, pending the approval of the City Council. The increase would become effective Jan. 1, 2009. The exact amount of the increase will be determined as BED endeavors to arrange the optimal debt strategy for 2009 and beyond. The need for the increase is driven by increased power, transmission and operating costs, along with declining sales of electricity that are a result of BED's successful energy efficiency programs.
BED has advanced its ongoing major capital projects, the McNeil air quality improvements and the East Avenue reliability upgrade, through favorable short-term borrowing arranged through the City. This allows BED to reap the benefits of these projects in lowered operating costs as it moves into 2009 without fully absorbing the cost of the debt these projects will require.

Green Mountain Coffee Announces $17 Million Settlement of Patent Litigation with Kraft

Merchants Bancshares, Inc. Announces Strong 2008 Third Quarter Results
SOUTH BURLINGTON, VT - Merchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, announced October 23, 2008, net income of $3.31 million, or diluted earnings per share of $0.55, for the quarter ended September 30, 2008, a $683 thousand, or 26%, increase over net income of $2.63 million for the third quarter of 2007 and a $0.12, or 28% increase over diluted earnings per share of $0.43 for the third quarter of 2007. The return on average assets for the third quarter of 2008 and 2007 was 1.01% and 0.94%, respectively. The return on average equity for the third quarter of 2008 and 2007 was 17.98% and 15.04%, respectively. Merchants declared a dividend on October 16, 2008, of 28 cents per share payable November 13, 2008, to shareholders of record as of October 30, 2008.

VEDA tops $80 million
in financing approvals
The Vermont Economic Development Authority's (VEDA's) total project financing approvals across all programs for Fiscal Year 2008 was $80.1 million, up from $77.8 million last year.

VEDA closed two hundred commercial agricultural and small business loans, totaling $46.4 million during the year. Because of this, Vermont business development projects received an additional $47.9 million in private investment.

Of the 63 commercial projects financed in Fiscal Year 2008, it's estimated that 1,980 jobs were impacted, having an average hourly wage of $20.89.

Manufacturing accounted for 30 percent of the combined portfolio of direct VEDA loans. Agriculture made up 24 percent and service-related businesses, 23 percent.

VEDA's net assets under management increased over the past ten years, from $24.9 million in 1999 to $33.6 million as of June 30, 2008.