Current News

Vermont Business Magazine ElevATE Semiconductor and GlobalFoundries (Nasdaq: GFS) (GF) today announced a manufacturing partnership for high-voltage chips produced at GF’s facility in Essex Junction, Vermont. Designed by ElevATE and manufactured at scale by GF on its proven and power-efficient 7HV technology platform, the chips are vital to both commercial semiconductor testing equipment and critical applications for aerospace and defense systems. The agreement outlines GF’s supply of its 7HV chip technology to ElevATE and the marketplace. Manufactured on 200mm wafers at GF’s Vermont facility, the mature-node chips pair power management and wireless sensing capabilities, delivering the performance, design flexibility and power efficiency required by a range of electronics devices in national security systems. 

Vermont Business Magazine Mayor Emma Mulvaney-Stanak called for a special election August 31 to fill the vacant Ward 3 School Commissioner seat following the May 20, 2024 resignation of Commissioner Saja Almogalli. Mayor Mulvaney-Stanak said the following in a statement: “I am deeply grateful for former Commissioner Almogalli and her service on the School Board. Throughout her time on the Commission, Saja was an impactful voice for marginalized communities, especially immigrant and refugee families in the Old North End and Downtown. I am grateful that her public service will continue as a Burlington Police Officer.” 

Vermont Business Magazine Join VermontBiz and U.S. Small Business Administration as we celebrate the 2024 Vermont SBA Award Winners! June 12, 2024 11 am - 2 pm at The Essex Resort & Spa, 11am - 12pm - Registration and Networking Reception; 12pm - 2pm - Luncheon and Award Ceremony.

Vermont Business Magazine The Vermont Economic Development Authority, or VEDA, today unveiled a new loan program available to businesses in the state’s forest economy. Three million dollars in total financing can be provided in the form of loans up to $500,000 with subsidized interest rates for loggers, foresters, log haulers, biomass producers, sawmills, firewood producers and wood product manufacturers, for working capital, equipment and refinancing. According to the Vermont Forest Futures Strategic Roadmap, the forest-based economy in the Green Mountain State accounts for about $2.1 billion annually and more than 13,800 jobs. The wood products industry has a rich history in Vermont’s economy and ecology alike — and it is a world known for high operating costs, variable markets and one heavily impacted by outside factors. 

Vermont Business Magazine Evernorth closed Housing New England, Fund V on May 30, 2024. This fund will provide equity to finance affordable housing in Maine, New Hampshire and Vermont. 15 investors committed a total of $61,000,000 in equity making Housing New England, Fund V (HNE Fund V) a significant financial resource for the region’s critical affordable housing needs. HNE Fund V’s investors include community, regional and national banks. Five of the properties are in ME, one in NH, and four are in VT. Since Housing Vermont and Northern New England Housing Investment Fund merged in 2020 to become Evernorth, it has raised $323 million for Affordable Housing through its multi-investor platform.

Vermont Business Magazine Senator Peter Welch (D-Vermont) today released the following statement on President Biden’s new executive order on border security: “There is no question our immigration system is broken. Immigrants, refugees, and asylum seekers—who are critical to the success of Vermont and America—face unimaginable risks in reaching our country, only to then face unimaginable bureaucratic delays once they’re here. The implications are far-reaching, overwhelming our legal system and straining businesses and communities that benefit from immigration. Action is needed, and it is needed now—but so far Congress has been unwilling to come together to repair what is broken."

Vermont Business Magazine Governor Phil Scott today announced the appointment of Aliena Gerhard as state’s attorney for Lamoille County, replacing former state’s attorney, Todd Shove. Gerhard joined the office in 2021 as a deputy state’s attorney and has been serving as acting state’s attorney since December 2023. Prior to that role, she spent over 10 years actively practicing, specializing in the areas of criminal, environmental, and administrative law. Before moving to Vermont in 2010, Gerhard worked as an assistant district attorney in Pennsylvania, where she prosecuted thousands of cases from trial through appeals.

Vermont Business Magazine Governor Phil Scott and the Department of Environmental Conservation (DEC) have announced the availability of $5.6 million in American Rescue Plan Act (ARPA) funding to help manufactured housing communities improve stormwater practices. DEC is seeking proposals – due July 5, 2024 – from organizations interested in helping targeted communities access this funding. Vermont's regulations require sites with impervious surfaces of three or more acres to get a 3-Acre Permit. These sites must treat stormwater runoff from hard surfaces – like roof tops, roads, and parking areas – to reduce pollution entering waterways. DEC aims to help as many manufactured housing communities as possible build the stormwater controls that are required for this permit.

Department of Housing and Community Development The Department of Housing and Community Development (DHCD) did a presentation at the recent Southern Vermont Economy Summit at Mount Snow in Dover making the case for more Missing Middle housing and sharing how to build it using the Homes for All Toolkit. You can register now to learn more about the state's Missing Middle efforts at Small-Scale Housing Solutions for Southwestern Vermont on June 11 in Rutland.

Vermont Business Magazine Governor Phil Scott and the Department of Environmental Conservation (DEC) today announced an award of $6.8 million to the Vermont Bond Bank. This American Rescue Plan Act (ARPA) funding will launch the Small System Capacity and Resiliency Program. The Vermont Bond Bank will provide small, primarily rural municipalities with awards to restore flood-impacted and repair other drinking water and wastewater systems. The Vermont Bond Bank will provide awards to small municipalities to help repair, upgrade, or replace existing water and wastewater systems that are at risk of failure or have failed. Failures may be due to the July 2023 flooding or age-related defects.

Vermont Business Magazine Today, Vermont Secretary of State Sarah Copeland Hanzas announced the statewide and Federal candidates for the upcoming Primary election in August. Additionally, Secretary Copeland Hanzas makes a statement about the newly enacted statewide law regarding firearms in polling locations. The Primary Election will be held on Tuesday, August 13, 2024. Voters will choose which candidates will represent their party in the November General Election. The following offices are up for election: U.S. Senator, U.S. Representative, Governor, Lieutenant Governor, Treasurer, Secretary of State, Auditor of Accounts, Attorney General, all 30 State Senate Seats, all 150 State Representative seats, and High Bailiffs.

by Timothy McQuiston, Vermont Business Magazine The Vermont Department of Health reported on May 22 that a second juvenile in the "Under 10" age range has died of COVID-19 since the pandemic began here in March 2020. It has been at least a year and a half since a Vermonter under the age of 30 has died from COVID. The VDH changed its reporting methods in 2022. For the week ending May 29, the Vermont Department of Health is reporting that COVID-19 cases were 53, down from 57 the previous week. Cases had been falling in Aprile and May and were as low as 31 at the beginning of May. There was one fatality last week and five the previous week, including the juvenile. The pandemic death total stands at 1,154 as of May 25, 2024, and 5 so far in May. April deaths (3) were the fewest from COVID since July 2021.