Current News

Vermont Business Magazine For the fifth consecutive year, the University of Vermont (UVM) has achieved a new record for research funding: attracting $266 million in extramural support for the 2023 fiscal year. More than doubling the university’s annual research funding of five years ago, UVM faculty members garnered nearly 700 research awards to launch over 1,000 new projects confronting head-on some of society’s most pressing issues, from climate change to public health, supported by government agencies, corporate partners, foundations and donors.

by Timothy McQuiston, Vermont Business Magazine Weekly unemployment claims fell slightly last week to a very low level and their lowest levels since September 2023. For the week ending September 28, 2024, new claims were 181, which is down 19 claims from the week before and 43 fewer from last year. Meanwhile, unemployment claims and hiring have rebounded strongly across the US, as the Federal Reserve Bank cut interest rates by a robust 0.5% (50 basis points). Economists suggest the positive numbers suggest that the economy will indeed negotiate a "soft landing" and avoid a recession. Recent national and international events, however, could alter that outcome. For the week, total unemployment insurance claims were 1,746 for the week (down 26 for the week and down 306 from this time last year). Meanwhile, the state unemployment rate remains second lowest in the nation even as it rose one-tenth in August, as unemployment grew modestly (2.2 percent in August 2024). 

Vermont Business Magazine Lawson’s Finest Liquids has selected VT Center for Independent Living (VCIL) as a recipient of its 2024 Sunshine Fund. VCIL will be a temporary “on-tap” partner for 2 weeks, receiving 100 percent of guest donations! Visit the Lawson’s Finest destination brewery and taproom in Waitsfield, Vt., between 10/01/2024 – October 15,2024 for a delicious brew you can feel good about. VCIL will use the funding for our Peer Advocacy Counseling Program (PAC) and for Information, Referral and Assistance (IR&A). These programs are at the heart of VCIL’s work and allow residents to access information about disability-related laws, services and programs. 

by Mike Donoghue, Vermont News First, Vermont Business Magazine A Burlington area woman has become the third person in recent months with being involved in a major unrelated embezzlement at Vermont auto dealerships. Jennifer Labonte, 45, has struck an early deal with the U.S. Attorney's Office to plead guilty to wire fraud in connection with at least $191,000 taken from Burlington Subaru and Burlington Hyundai, federal court records show. Labonte, a former office manager, has signed a 9-page plea agreement admitting that she diverted the money for her own use, records show. She has agreed to reimburse the two dealerships that suffered about $191,000 in out-of-pocket expenses

Vermont Business Magazine After 18 years of dedication to preserving the historic Old Lantern Barn, Lisa and Roland Gaujac, current owners of the renowned venue in Charlotte, have announced their decision to retire and transition ownership of the property. The couple, who has lovingly maintained the barn’s legacy, are seeking new owners to carry on its rich history while continuing to run the adjacent Old Lantern Inn. Located on 6.5 picturesque acres, the Old Lantern Barn, with its roots dating back to the 1960s as one of Vermont’s premier music venues, has hosted over 2,500 weddings, concerts and events, including performances by legendary artists like Taj Mahal, Little Feat, Bruce Cockburn and Brian Setzer from Stray Cats. 

Vermont Business Magazine The Vermont Department of Labor (VDOL) announced today that federal Disaster Unemployment Assistance (DUA) benefits will be available to Vermonters left without work due to the significant flooding that occurred in Vermont on July 29-31, 2024. The Biden Administration and the Federal Emergency Management Administration (FEMA) have approved Caledonia, Essex, and Orleans Counties for Individual Assistance, which includes Disaster Unemployment Assistance. Under this declaration, individuals living, working, or scheduled to work in these counties may be eligible for DUA. This includes independent contractors, self-employed individuals, and agricultural workers.

Vermont Business Magazine Sen. Bernie Sanders (I-Vt.), Chairman of the Senate Committee on Health, Education, Labor, and Pensions (HELP), today released the following statement in support of the 50,000 port workers in the International Longshoreman’s Association who went on strike this week across the country: I stand in strong solidarity with the 50,000 port workers in the International Longshoreman’s Association who went out on strike this week from Maine to Texas against the outrageous corporate greed that is taking place in the shipping industry. While port workers put their lives on the line during the horrendous pandemic to keep the economy going, ocean carriers in the shipping industry saw their profits skyrocket by as much as 800 percent and have made a record-breaking $400 billion in profits since 2020.

Vermont Business Magazine On an antique desk that belonged to Vermont Senator Justin Morrill, the father of the land-grant university system, representatives from the University of Vermont on Thursday signed a 30-year lease of approximately 400 acres of farmland for long-term agricultural research use in partnership with the U.S. Department of Agriculture (USDA) Agricultural Research Service (ARS). The conserved dairy farm – comprising nearly 600 acres in total along Route 7 in Charlotte – was acquired in 2021 by Will Raap, founder of Gardener’s Supply in Burlington’s Intervale. Raap renamed the property Earthkeep Farmcommon. After being on the market for over a year following Raap’s passing, the property was purchased this summer by Benjamin Dobson and Kaspar Meier. UVM will sublease the land to the USDA ARS for research purposes, with initial studies focusing on forage production and ruminants.

Vermont Business Magazine U.S. Department of Agriculture (USDA) State Director for Rural Development (RD), Sarah Waring, announced today that the agency is investing $2,698,024 million in grants through the Rural Energy for America Program (REAP) to support six small businesses in Vermont and New Hampshire. The funding is made possible by President Biden’s Inflation Reduction Act, the nation’s largest-ever investment in combating the climate crisis, and is part of a larger initiative that will award $104 million in loans and grants to more than 300 clean energy projects in 34 states. 

Vermont Business Magazine US Senators Peter Welch (D-Vermont) and Ben Ray Luján (D-N.M.) led Senators Chris Van Hollen (D-Md.), Ron Wyden (D-Ore.), Alex Padilla (D-Calif.), and Jeanne Shaheen (D-N.H.) in introducing the High Court Gift Ban Act, legislation that would ban Supreme Court Justices from receiving gifts valued at over $50 and help strengthen ethical standards of the Supreme Court. Representatives Alexandria Ocasio-Cortez (D-NY-14) and Jamie Raskin (D-MD-08) introduced companion legislation in the House. Under current law, Supreme Court justices are not held to the same restrictions on accepting gifts that apply to Members of Congress, federal judges, and other federal officials. Recent analysis by Fix the Court estimates that in the last two decades, Supreme Court justices have accepted hundreds of gifts valued at nearly $5 million.  

Vermont Business Magazine The annual state-wide Federal Junior Duck Stamp Art Contest is underway in Vermont.  The U.S. Fish and Wildlife Service invites students from pre-K to 12th grade to create designs featuring native ducks, swans, or geese in their natural habitats.  Designs are judged in four age categories, with awards for first, second, and third places and honorable mentions.  Entries must be received by March 15th, 2025. Attached is a press release, entry form and a list of eligible species. The Vermont Best of Show entry will compete with contest winners from other states in a national competition in Washington D.C.  The first-place national winning design is used to create the Federal Junior Duck Stamp.  Proceeds from the sale of Junior Duck Stamps support conservation education by providing awards and scholarships for students, teachers, and schools.

Vermont Business Magazine Average gasoline prices in Vermont are $3.19 per gallon, up 1 cent per gallon from last week's $3.18/g. The lowest price in the state is $2.89/g in Bennington while the highest was $3.44/g. The national average price of gasoline is down 5 cents per gallon in the last week, averaging $3.17/g today. The national average is down 12 cents per gallon from a month ago and stands 59 cents per gallon lower than a year ago.