Current News

Vermont Business Magazine Average gasoline prices in Vermont are $3.37 per gallon, up 8 cents per gallon from last week's $3.29/g. Gas prices are up 14 cents/g from a month ago and are 1 cent/g lower than this time last year. The lowest price in the state yesterday is $3.18/g in Colchester and Burlington, while the highest is $3.89/g in Island Pond. The national average price of gasoline unchanged in the last week, averaging $3.54/g today. The national average is up 21 cents per gallon from a month ago and stands 10 cents per gallon higher than a year ago.

Vermont Business Magazine Eastern Hemlock, a ubiquitous and underutilized evergreen tree species in the northeastern United States, is now available for commercial cross-laminated timber (CLT) building projects for the first time after a multi-year project brings the tree species to the market. CLT is part of the new mass timber construction technique that uses glued pieces of lumber to make beams and large solid wood panels for floors and walls. Up until now, only timber species from the south and western U.S. and outside the country were available for CLT buildings. An addition to the Fairbanks Museum in St. Johnsbury, Vermont, and a brand new multi-functional 5-story commercial building at the 154 Broadway building in Somerville, Massachusetts, both have Eastern Hemlock CLT installed as they complete these buildings in 2024.

Vermont Business Magazine The Vermont Agency of Transportation (AOT) invites municipalities to participate in the Municipal Roads Grants-in-Aid Program, which provides funding for municipalities to implement best management practices (BMPs) in accordance with the Vermont Department of Environmental Conservation (DEC) Municipal Roads General Permit (MRGP). Grants-in-Aid awards will be made available through AOT and will total approximately $3 million dollars in this grant cycle. Municipalities will submit reimbursement requests directly to AOT for work completed, and AOT will reimburse up to 80% of the municipality’s documented construction expenses, including in-kind support, for BMPs on hydrologically connected roads.    

by Caitlin Littlefield & Basil Waugh, UVM Anew report released today highlights the opportunity for New England to dramatically expand forest protections and sustainably meet the region’s wood product needs by reducing consumption and reorienting production. The report calls on New England states to permanently protect roughly 70% of the region’s landscape—a significant increase from the 25% currently protected—while expanding sustainable forest management across two-thirds of New England’s forests. The report is by researchers from the University of Vermont (UVM), Harvard Forest, Conservation Science Partners, University of Massachusetts, and Brandeis University.

by Laurie Mumley A possible miracle for Bill H.829 – there is an open letter from a group of high income and wealthy residents to the Legislature asking to be taxed at a higher rate in response to the critical needs we have in our state for housing (as the governor attests) and for other services. A story in Vermont Business shares a link to that letter: www.fairsharevt.org. We can connect the dots, between that letter and the proposed tax in H.829 to create a 10-year plan to address all kinds of housing needs. Our legislators need to understand that this new revenue stream can support the 10-year plan for housing, without taxing the regular guy. H.829 includes both new revenue streams as well as specific language to direct funds toward affordable and middle-income housing, housing-related services, and shelter creation.

Vermont Business Magazine Vermont’s trout fishing season opens Saturday, April 13. Despite lingering snow cover in some areas of the state, the Vermont Fish and Wildlife Department says anglers can still have fun and be successful early in the season if they keep a few strategies in mind. “Just like any other time of year, anglers fishing early in the spring should adjust their tactics based on conditions,” said State Fisheries Biologist Shawn Good. “Trout will become more active with warmer water temperatures.  If you can find a good location and present your bait or lure without spooking the trout, you’ll have a good chance of catching a few fish, and enjoy a nice day outside.”

Vermont Business Magazine It's finally spring and Vermonters are not only getting outside to appreciate the warmer weather, they’re also making plans for next winter's firewood supply. The Department of Environmental Conservation (DEC) has a few tips on how to properly dry or season firewood to reduce costs, smoke, and fuel use. “Wet wood does not burn well and creates a lot of smoke that can harm your family, neighbors, and the environment,” said DEC Commissioner Jason Batchelder. “Seasoned wood burns hotter and cleaner than wet wood does, saving you money and energy.”

Vermont Business Magazine Today, the Green Mountain Care Board (GMCB) voted unanimously to establish data-driven hospital budget guidance for fiscal year 2025 (FY25) that promotes affordability and access to care for Vermonters. The FY25 hospital budget guidance builds on GMCB’s work to expand its data-driven budget review process and was developed over a monthslong process with significant input from the public, the Office of the Health Care Advocate, hospital leaders, and industry representatives. Through the hospital budget guidance, GMCB directs hospitals to limit their FY25 budget net patient revenue growth to 3.5% and to restrain commercial insurance price increases to 3.4%.

Vermont Business Magazine On Wednesday, the Vermont Progressive Party issued the following statement opposing the appointment of Zoie Saunders as Secretary of Education: "The Vermont Progressive Party opposes the recent appointment of Zoie Saunders as Secretary of the Agency of Education by Governor Phil Scott. Saunders' background in for-profit charter schools and her 3-month tenure in Broward County Public Schools in Florida raise serious doubts about her suitability for the role. Not only does she lack the requisite experience in public education, but her track record demonstrates a propensity for policies that undermine rather than strengthen public schools."

Vermont Business Magazine Senator Bernie Sanders (I-Vermont), Chairman of the Senate Health, Education, Labor, and Pensions (HELP) Committee, on Wednesday called on Novo Nordisk to lower the list price of Ozempic and issued the following statement after the release of a new study, which found that the diabetes and weight-loss drug could be profitably produced for less than $5 a month. Today, a new Yale study found that Ozempic costs less than $5 a month to manufacture. And yet, Novo Nordisk charges Americans nearly $1,000 a month for this drug, while the same exact product can be purchased for just $155 a month in Canada and just $59 in Germany.

Vermont Business Magazine At his weekly press conference today, Governor Phil Scott addressed the affordability challenges so many Vermonters are facing. Between rising costs, higher taxes, fees and penalties, too many Vermonters and small businesses are struggling to get by. He was joined by Amanda Shangraw, the owner of a small business in Williamstown, who recently wrote to lawmakers about the difficulty of doing business in our state, and how the decisions in Montpelier have a real impact on people trying to make it in Vermont. The governor also encouraged legislators and Vermonters to read an interview that appeared today in Vermont Public, titled “The challenges of living on a fixed income in a state where the taxes keep going up.” 

Vermont Business Magazine State Treasurer Mike Pieciak released a report estimating the economic impact of the April 8 total solar eclipse could range between $12.9 million and $51.8 million. The actual economic impact rests on the total number of visitors who travel to Vermont for the eclipse, which highly depends on the April 8 weather forecast. The economic impact is based on the estimated number of visitors who will travel to Vermont and the estimated amount each visitor will spend while in Vermont. The Great American Eclipse provides an estimated range of the number of visitors who will travel to Vermont with a low estimate of 52,000 visitors and a high estimate of 208,000 visitors.