Current News

Vermont Business Magazine The who's who of Vermont's ski and snowboarding world will gather at Killington’s K1 Lodge on Saturday, October 19th to celebrate the Induction of the class of 2024 into the Vermont Ski and Snowboard Hall of Fame. The event, hosted by the Vermont Ski and Snowboard Museum in Stowe, will also honor the recipients of the Paul Robbins Journalism Award, First Tracks Award, and the Bill McCollom Community Award. This year's Hall of Fame inductees include Kelly Clark, the winningest athlete in snowboard history, Carl Ettlinger, a ski safety crusader, Peter Graves, the voice of skiing in America, and Henry Lunde, a pioneering contributor to the Vermont ski industry. The Paul Robbins Journalism Award will go to Lisa Gosselin Lynn. The First Tracks Award will go to Abby Crisostomo and Hana Saydek of Unlikely Riders. The Bill McCollom Community Award will go to Vermont Adaptive Ski and Sports.

Vermont Business Magazine ATTOM, a leading curator of real estate data, has released its second quarter 2024 U.S. Home Equity & Underwater Report, which shows that 49.2 percent of mortgaged residential properties in the United States were considered equity-rich in the second quarter. Vermont again landed the top spot, with 83.5 percent of mortgaged homes were identified as equity-rich, meaning that the combined estimated amount of loan balances secured by those properties was no more than half of their estimated market values.

Vermont Business Magazine Vermont Mutual Insurance Group has again been recognized as one of the Top 50 Property and Casualty insurers in the U.S. by Ward Group, an Aon company, and one of the industry’s most respected benchmarking organizations. This is the 16th consecutive year that the Vermont-based insurer has been designated as a Ward Top 50 P & C insurer. Every year Ward Group examines the financial performance of nearly 2,900 property-casualty insurance companies domiciled in the United States to identify the top performers. The “Ward’s 50” designation recognizes insurers for their consistency, safety and superior financial performance.

Vermont Business Magazine Governor Phil Scott has made a formal request for a federal disaster declaration which would bring federal resources to individuals and communities recovering from the July 10 and 11 flooding event. The declaration requests funding under the federal Public Assistance (PA) and Individual Assistance (IA) programs. The state is requesting Public Assistance and Individual Assistance in Addison, Orleans, Washington, Caledonia, Chittenden, Lamoille, and Essex counties. It also includes a request for only Public Assistance in Orange County. A federal assessment verified more than $5.5 million in damage to public infrastructure. This figure is only a partial estimate to show the state meets the minimum qualification for a disaster declaration. The total cost to repair damages will be much higher. 

Vermont Business Magazine Magic Mann Premium Cannabis is proud has announced that it has received final approval from Vermont’s Cannabis Control Board to move forward with the cultivation and manufacturing of cannabis and cannabis products for the adult recreational market. Both cultivation and manufacturing will take place in a new 4,000 square-foot facility adjacent to Magic Mann’s dispensary location at The Essex Experience. Mann, a long-time medicinal cannabis patient, entered the industry in 2019 with BTVLocal420 in South Burlington. In 2020, she opened Magic Mann at The Essex Experience in Essex as a CBD café and storefront. Then, in 2023, Magic Mann received Vermont’s 13th license to legally retail THC products for recreational use. 

Vermont Business Magazine Health officials are urging people to take steps to prevent mosquito bites after mosquitoes from Grand Isle and Franklin counties tested positive for Eastern equine encephalitis (EEE) virus — a serious and potentially fatal mosquito-transmitted infection. This is the first detection of EEE virus in the 2024 mosquito testing season in Vermont. The Vermont Agency of Agriculture, Food & Markets collects mosquitoes at locations throughout the state for testing at the Department of Health Laboratory. So far this season, nearly 18,000 mosquitoes have been tested. The positive EEE virus samples were collected on July 22 from Alburgh and Swanton. There have been no human cases of EEE or West Nile in Vermont this year. The most recent confirmed cases of EEE were in two people in 2012, both of whom died.

Vermont Business Magazine Sen. Bernie Sanders (I-Vermont), Chairman of the Senate Committee on Health, Education, Labor, and Pensions (HELP), today introduced legislation to address the long COVID crisis that is affecting more than 22 million adults and 1 million children across the United States – and millions more around the globe. The Long COVID Research Moonshot Act of 2024 provides $1 billion in mandatory funding per year for 10 years to the National Institutes of Health (NIH) to support long COVID research, the urgent pursuit of treatments, and the expansion of care for patients across the country. Joining Sanders on the legislation are Sens. Tammy Duckworth (D-Ill.), Tim Kaine (D-Va.), Ed Markey (D-Mass.), Tina Smith (D-Minn.), and Peter Welch (D-Vermont).

Vermont Business Magazine This week, U.S. Senator Peter Welch (D-Vermont), Chair of the Senate Agriculture Subcommittee on Rural Development and Energy, introduced the Rural Opportunities and Revitalization Act, legislation to empower the U.S. Department of Agriculture’s (USDA) Rural Business-Cooperative Service (RBCS) to carry out research, technical studies, and demonstrations to support business growth and development and job training in rural communities. This bill grants USDA flexibility to test new methods for improving access to RBCS programs for small farms and rural businesses. 

Vermont Business Magazine Vermont officials and Vermonters continue to contend with flood debris removal from Vermont waterways. If left in place, these piles of rocks, sediment, and woody material may pose a risk to property and public safety. With rain in the forecast this weekend, it’s important to check drainage around your home. To make sure flood debris removal around your home is not delayed, the Agency of Natural Resources (ANR) and Department of Environmental Conservation (DEC) are sharing additional guidelines.

by Timothy McQuiston, Vermont Business Magazine Weekly unemployment claims fell slightly last week to their lowest levels since last year. For the week ending July 27, 2024, new claims were 232, which is typical of summer lows. Meanwhile, unemployment claims and hiring have stalled nationally, and the stock market has reeled as the Federal Reserve Bank decided not to lower interest rates this week. For the week, initial claims were down 6 for the week and down 170 from this time last year. Meanwhile, the state unemployment rate remains near historic low levels as employment and the labor force have increased (2.1 percent in June 2024). 

The Vermont Department of Tourism is staying abreast of severe weather impacts, with a specific focus on whether and how it might impact people’s plans to come to – or travel around -- our state. We have compiled a list of resources for visitors and industry partners alike, dedicated to providing trail, swimming, and road conditions updates/resources. Beyond specific actions related to recent severe weather, VDTM’s summer advertising campaign is in full swing right now and we have not pumped the brakes in any way. In fact, we have advertised more than ever before in these past two years due to additional federal funds made available to us.

Vermont Business Magazine The State today submitted a request for a Preliminary Damage Assessment (PDA) from the Federal Emergency Management Agency (FEMA) to determine whether the state qualifies for a federal major disaster declaration for flooding and resulting damage on July 30 and July 31, 2024. The request asks for Public Assistance (PA) assessments in Caledonia, Essex, and Orleans counties and Individual Assistance (IA) assessments in Caledonia and Essex counties for damaged caused by the storms. A very early assessment by the state has already discovered damage to public infrastructure resulting from the storm exceeding $6 million. To qualify for a major PA disaster declaration, FEMA must verify at least $1.183 million in response and public infrastructure recovery costs. Individual counties must also show damages of $4.60 per capita to qualify.