Current News

Vermont Business Magazine Average gasoline prices in Vermont is $3.11 per gallon, down 4.2 cents per gallon from last week's $3.15/g. The national average price of gasoline has fallen 2.2 cents per gallon in the last week, averaging $3.05/g today. The national average is down 11.8 cents per gallon from a month ago and stands 34.5 cents per gallon lower than a year ago.

Vermont Business Magazine Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today released its November 2024 ICE Mortgage Monitor Report, based on the company’s robust mortgage, real estate and public records data sets. Vermont remains below the US average in non-current mortgages. This month’s Mortgage Monitor dives deep into ICE’s latest Q3 2024 homeowner equity data, reporting on both quarterly and annual growth in mortgage holders’ housing wealth. Though 30-year interest rates remain volatile, recent and anticipated short-term rate cuts by the Federal Reserve have the potential to positively impact equity-based lending. 

Vermont Business Magazine The University of Vermont (UVM) has announced the 2025 Vermont Pitch Challenge, an extraordinary opportunity for high school entrepreneurs to showcase their innovative ideas and drive impactful change. This prestigious competition, inspired by the renowned ‘Shark Tank’ format, offers talented young visionaries the chance to win a full-tuition scholarship to UVM and receive crucial support for their groundbreaking ventures. Building on the success of its inaugural year, the Vermont Pitch Challenge will officially open for submissions from Oct 15, 2024, through Feb 15, 2025. High school students in grades 10 – 12 worldwide are invited to submit their business proposals online at no cost, focusing on ideas that make a positive impact on the world. 

Vermont Business Magazine As required by the Global Warming Solutions Act, the Vermont Climate Council must update the Climate Action Plan by July 1, 2025. As part of the Council’s work, public input is being sought on draft recommendations. The Council and its Subcommittees are hosting topic-specific virtual sessions in November to gather input from the public and stakeholders.

Vermont Business Magazine Engineers Construction, Inc (ECI), a Vermont-based heavy civil construction company, has officially transitioned to 100% employee ownership through an Employee Stock Ownership Plan (ESOP). This significant step reflects the company’s commitment to its employees and community, ensuring an employee-centric future and eliminating the need for future ownership succession planning. Founded in 1965 by Alan Pidgeon, ECI has been a leader in Vermont’s construction industry over the past six decades. The company, known for its technical expertise and dedication to safety and quality, employs over 200 people, including seven registered professional engineers and 50 employees with technical degrees. Its portfolio of innovative projects spans a wide range, from bridges and tunnels to ski resorts and Burlington's Downtown Transit Center. 

Vermont Business Magazine The 6th Annual Vermont ATHENA Leadership Awards were recently presented by the Central Vermont Chamber of Commerce during a gala in the refined setting of Norwich University’s Milano Ballroom. It was an outstanding evening for Norwich, with two exceptional faculty members, Dr. Tara Kulkarni, Associate Provost for Research and Chief Research Officer, and Dr. Sarah Gallant, Assistant Professor and Interim Chair of Chemistry and Biochemistry, receiving nominations, and one attaining the highest honor. These nominations for The ATHENA Leadership Award and The ATHENA Young Professional Leadership Award symbolize the significant role these individuals play in leadership and mentorship. The event stands as a noteworthy platform to acknowledge several of the most impactful women in Vermont. 

Vermont Business Magazine The United States Attorney for the District of Vermont stated that on November 1, 2024, defendant Scott Jamie Ashness, 44, most recently of Stuart, Florida, was sentenced by Chief United States District Judge Christina Reiss to a term of 48 months’ imprisonment to be followed by a 3-year term of supervised release. Ashness previously pleaded guilty to bank fraud, passport fraud, and aggravated identity theft. According to court records, in September and October of 2023, Ashness entered fifteen different bank branches in Vermont, New York, and New Hampshire and pretended to be a total of eight different individuals in order to withdraw U.S. currency from those individuals’ accounts. On twelve of those fifteen occasions, Ashness was successful and walked out of the banks with the cash that he requested. 

Agency of Agriculture, Food & Markets Attention farm and forest owners in Washington, Chittenden, Essex and Caledonia counties! USDA emergency programs can help restore farmland or non-industrial forest that suffered damage during this past July's flooding and severe storms. The USDA Emergency Conservation Program (ECP) and Emergency Forest Restoration Assistance (EFRP) have both opened for Washington, Chittenden, Essex and Caledonia counties. For Caledonia and Essex counties - contact your local FSA County Office and request assistance before December 20th. For Washington and Chittenden counties - contact your local FSA County Office and request assistance before December 23rd.

by Timothy McQuiston, Vermont Business Magazine Travel and tourism have been a cornerstone of Vermont’s economy for over a century. However, recent years have brought significant disruptions, most notably the COVID-19 pandemic. Travel restrictions and lockdowns forced hospitality venues to close, impacting everything from cozy B&Bs to sprawling ski resorts. As the pandemic restrictions eased, Vermont experienced a surge in tourism, leading to an economic boom. However, this influx of visitors also triggered a housing crisis, characterized by a decline in available housing and a rise in housing costs. This phenomenon involved the conversion of second homes into permanent residences and the transformation of permanent homes into short-term rentals. While the ski industry was still recovering from the lingering effects of COVID, the hospitality sector was rebounding. However, two devastating events further disrupted travel and tourism: the floods of July 2023 and July 2024. Businesses in central Vermont, ranging from restaurants to recreational facilities, bore the brunt of these disasters, experiencing significant disruptions and setbacks.

by Kate Kampner, Community News Service Vermont scientists aren’t sure what could happen in the future as far as flooding goes, but as colder temperatures arrive, they’re continuing to monitor water quality in Lake Champlain and research ways to protect it in anticipation for winter and summer floods like those in the past two years. Matthew Vaughan, chief scientist at the Lake Champlain Basin Program, said it’s a long-term picture. Vaughan is in the process of finalizing the organization’s assessment of the 2024 flooding, which he said should be available around December. Overall, the July 2024 flooding was more destructive downstream while the December 2023 flooding resulted in higher flow because it involved snow and rain, Vaughan said. 

Vermont Business Magazine This weekly report is a list of planned construction activities that will affect traffic on state highways and interstates throughout Vermont for the week of November 4, 2024. Please remember to drive safely in all work zones. Lives depend on it.  

by Jason Williams, University of Vermont Health Network We all have a deeply personal health care story, an experience that overwhelmed us with gratitude for the caregiver who was there in that life-altering moment. Some we are relieved to recount, and others ended in the agony of loss. Like you, I have both kinds of stories. Health care is about life and our quality of life. As you read this, I ask you to think about the health care you want for yourself and your loved ones in their time of need. And I encourage us to keep working together to get to that place despite recent alarming actions by the State’s Green Mountain Care Board, including budget orders that will lead to health care rationing, and recommendations calling for rural community hospital closures and the curtailing of services by our not-for-profit academic health system.