Current News

by Timothy McQuiston, Vermont Business Magazine Weekly unemployment claims continued their steady climb last week as they have since the end of summer.  For the week ending November 30, 2024, new claims were 599, which is up 164 claims from the week before and 88 more from last year. They were 181 at the end of September. Overall, the month of November US jobs report beat expectations. The U.S. economy added 227,000 jobs in November, marking a sharp rebound from the previous month. Economists polled by Dow Jones expected an increase of 214,000 jobs for the month. Jobs growth for October was revised to 36,000 from 12,000. The US unemployment rate came in at 4.2% for November, as expected.

Vermont Business Magazine Sen. Bernie Sanders (I-Vermont) today released the following statement after the Government Services Agency (GSA) – the arm of the federal government responsible for overseeing federal buildings – announced this week its decision to dispose of 87 State Street, Montpelier’s federal building that was damaged in the July 2023 flooding. Prior to the flooding, this building was home to the U.S. Post Office, the Courthouse, Department of Agriculture, the Small Business Administration, and the Internal Revenue Service. Centrally located in the Vermont state capital’s walkable downtown and easily accessible to local public transportation, the building served as a hub of activity and service for Montpelier residents and all of central Vermont. 

Vermont Business Magazine PC Construction of South Burlington recently accepted a National Project Achievement Award from the Construction Management Association of America. The CMAA award recognized PC’s work on the BETA Technologies’ Manufacturing and Assembly Facility, which supports the manufacture and assembly of the electric aerospace company’s battery-powered aircraft and electric charging infrastructure. This facility, which was completed last year, included the construction of a new, 188,500-square-foot high-bay building located directly adjacent to the Patrick Leahy Burlington International Airport runways. The fully operating facility includes aircraft manufacture and assembly space, office and employee spaces and support areas. Work included substantial site preparation, blasting and excavation, a parking lot and utility road, and a 2.7-acre geothermal field, which is one of the largest in New England. 

Vermont Business Magazine The United States Attorney’s Office announced that James Mailhiot, Jr., 56, of Rutland, Vermont, pleaded guilty yesterday in United States District Court in Rutland to a charge of federal income tax evasion. U.S. District Judge Mary Kay Lanthier released Mailhiot on conditions pending sentencing, which is scheduled for March 27, 2025. On November 14, 2024, the United States Attorney filed a one-count information charging Mailhiot with evading a significant portion of the income taxes he owed to the United States for Tax Years 2019 through 2022. Yesterday, Mailhiot pleaded guilty to that information. 

Vermont Business Magazine Central Vermont Economic Development Corporation (CVEDC) announced today its Regional Project Prioritization List for 2025.  This list ranks the region’s top ten priority projects as determined by a joint committee of members from both CVEDC and Central Vermont Regional Planning Commission (CVRPC). Melissa Bounty, Executive Director of Central Vermont Economic Development Corporation, spearheaded the call for applications and development of this year’s list. “We were able to draw our most diverse set of applicants ever this year,” says Bounty. “I’m impressed by the full list of 22 applicants, ranging from a project to purchase and install hospital generators to larger infrastructure projects. Even those that did not make it to the top 10 have incredible merit and show the great range of ideas and action being taken in Central Vermont.”

Vermont Business Magazine Average gasoline prices in Vermont are $3.12 per gallon, down 1 cent per gallon from last week and last month, and down 31 cents from last year. The lowest price in the state this week was $2.63/g while the highest was $3.25/g, a difference of 62.0 cents per gallon. Prices were lowest in Bennington ($3/g) and Windham ($3/g) counties and highest in Essex ($3.30) and $3.21 in Lamoille and Washington counties. The national average price of gasoline has fallen 3 cents per gallon in the last week, averaging $3.03/g today. The national average is down 7 cents per gallon from a month ago and stands 19 cents per gallon lower than a year ago, according to AAA.

Vermont Business Magazine A new study by tire experts at Tires Easy analyzed each state’s number of electric vehicle (EV) registrations, charging points, state EV incentives, and eagerness to transition. With several states adopting zero-emission vehicle mandates and goals, the study produced an index based on the four aforementioned factors, revealing the states most likely to transition to EVs soonest. Vermont ranks as the second most EV-friendly state in America behind California. 

Vermont Business Magazine The Vermont Council on Rural Development (VCRD) announces the awardees for the fourth competitive round of the Climate Catalyst Innovation Fund. The funding supports projects that make a meaningful, community-scale impact. VCRD received more than $224,000 in requests and was able to fund 24 projects totaling $85,000 to support local climate solutions in Vermont. Projects are practical and creative efforts that expand community resilience, reduce energy use, and create new approaches to challenging problems. Projects funded this year include solar generators, a farmer resilience network, youth climate projects, and many more. This year, the Climate Catalyst Innovation Fund grew to $85,000 following three successful prior rounds. An interactive map is available showcasing recipients, location and project descriptions. 

Vermont Business Magazine Today, U.S. Senator Peter Welch (D-Vermont), Chair of the Senate Agriculture Subcommittee on Rural Development and Energy and member of the Senate Commerce, Science, and Transportation Committee, introduced the Electrifying Rural Transportation Act (ERTA), legislation to create a new grant program to help rural transit agencies and local governments transition to electric fleet vehicles. Senator Welch’s bill would create the Rural Public Transportation Electrification Program, which would award grants through the Department of Transportation, for the purchase of new electric buses or other fleet vehicles, existing or new electric charging infrastructure, and to help with operational assistance for electrified routes. 

Vermont Business Magazine Vermont boasts over 1,400 miles of lakeshore, and nearly half is developed in a way that impacts water quality and wildlife habitat. Ahead of construction season, the Department of Environmental Conservation (DEC) is holding a free training course on best practices to develop and manage shorelands. The Natural Shoreland Erosion Control Certification (NSECC) course is a great training opportunity for engineers, landscapers, designers, contractors, consultants, project managers, and other site workers. The all-day training will cover lake ecology, permitting and regulations, landscape design, design and engineering, bioengineering case studies, and other shoreland best practice concepts. This training is being offered both online and in person. The in-person training will be on Wednesday, January 8, 2025, from 8:30 am to 4:00 pm at the North Branch Nature Center in Montpelier.

Vermont Business Magazine Coldwell Banker Classic Properties has announced its merger with Coldwell Banker Hickok & Boardman, combining two highly respected and successful real estate firms in Vermont. This partnership with a shared commitment to providing exceptional service to home buyers and sellers across the region, further strengthens the services and tools available for both consumers and agents.

Northeastern Vermont Development Association Implementation Grant Awards have been announced for the Vermont Municipal Energy Resilience Program (MERP). NEK communities have been awarded over $11.4 million for energy efficiency and resiliency measures across 85 municipally-owned buildings! View all MERP awardees on the BGS website. These projects include HVAC improvements, weatherization work like air sealing and insulation, LED lighting & equipment upgrades, and solar panel & battery back-up installation. Implementing these upgrades will enhance building systems and comfort to occupants, while lowering their daily operational costs. For example, Albany received funds to upgrade their historic Town Hall, which will create a year-round, comfortable gathering space for community events while lowering heating and maintenance costs.