Current News

Vermont Business Magazine At his weekly press conference today, Governor Phil Scott reiterated his call for the legislature to prioritize regulatory reform to make it easier, less expensive, and faster to build the housing "we desperately need." However, Scott said he is losing optimism that this will happen and instead, “It appears, in some committees, they’re moving in the opposite direction. Instead of prioritizing how to produce more homes, which would address all kinds of issues like workforce, healthcare, property taxes, education and more, some are looking to add to the regulatory burden and put us further behind.”

Vermont Business Magazine Hannaford Supermarkets recently donated $90,000 to the City of Burlington, Vermont, which will use the funding for a winter warming shelter. The shelter, which opened in December, houses more than 20 permanent program beds, all of which are occupied, in addition to more than 10 walk-in beds every night. Since its opening in December 2023, the Burlington shelter has served more than 100 unique individuals. The city of Burlington is using the funding from Hannaford to hire an assistant manager for the shelter and to purchase food and supplies for community outreach, as well as medical supplies for substance use-related injuries.

Vermont Business Magazine Last year brought months of challenging weather to Vermont.  Persistent rainstorms set records that caused catastrophic flooding throughout the state and the Northeast. The flooding prompted emergency evacuations, closed access to multiple towns, and damaged homes and communities. The agriculture sector was also hit incredibly hard. After a late freeze in May that destroyed fruit and berry crops, the flooding and heavy rain in July decimated crops and infrastructure. Many crops were destroyed prior to harvest, and the timing of the event and continuing wet weather last summer left farmers without an opportunity to replace them during the growing season. Lost crops and revenue put Vermont’s food system under duress. The report noted that 70% of farmers had no crop or livestock insurance. Those who did have crop insurance did not receive sufficient premium payouts to cover losses. There were $44.7 million in combined damages and $69.6 million when food services, food and agriculture related retail, and manufacturing and processing from the BEGAP is included.

Vermont Business Magazine Camus Energy, Vermont Electric Cooperative (VEC), and FlexCharging announced today a new electric vehicle (EV) management program to expand demand flexibility and protect critical grid infrastructure. By integrating FlexCharging’s telematics and recruitment capabilities with Camus’s grid orchestration platform, VEC aims to engage 75% of its members’ electric vehicles in the utility’s managed charging program, lowering costs for all of its 33,000 members across 75 communities. The new program launched this month and complements VEC’s existing EV charger installation and enrollment program with a more flexible, lower-cost approach. The use of telematics expands the range of eligible vehicles to 23 electric vehicle manufacturers and reduces EV enrollment costs for the cooperative.

Vermont Manufacturing Extension Center Training and learning events enhance performance, innovation, engagement and motivation. Our publicly scheduled events have been designed to boost you or your teams’ skills for a variety of manufacturing-focused opportunities. Launched last summer, the Supply Chain Optimization and Intelligence Network (SCOIN) expands the MEP National Network’s scope from working primarily with individual companies to taking a more comprehensive approach to manufacturing supply chains. The initiative will help establish new MEP service offerings to provide manufacturers with what they need to improve existing supply chain networks and fill gaps in the supply chain.

Vermont Business Magazine Blue Spruce Health is opening a Direct Primary Care (DPC) office in Williston. Building on the success of existing offices in Newport and St Johnsbury, Blue Spruce Health's expansion aims to offer Vermont residents convenient access to quality care. Scheduled to open its doors in March at 31 Market Street, Suite 2, the Williston office is located at the Union Bank building.

Vermont Business Magazine Governor Phil Scott, the Department of Economic Development (DED) and the Vermont Economic Development Authority (VEDA) today announced the first round of Venture Capital Program investments thanks to Vermont’s State Small Business Credit Initiative (SSBCI). The Venture Capital Program is allocating nearly $29 million to venture capital funds to help Vermont entrepreneurs and business startups. Venture Capital Program recipients will use the SSBCI funds on seed fund investments; leveraging accelerator programs to make small investments in rural, pre-seed stage companies; and investments in high-growth, technology innovation companies in the healthcare sector. 

Vermont Business Magazine ZymoChem, the biotechnology start-up developing bio-based materials for everyday products including hygiene items and textiles, announces new investments from the Dudley Fund and the Vermont Center For Emerging Technologies. This support will contribute to job growth and the development of ZymoChem’s Burlington satellite division. ZymoChem is redesigning manufacturing with ingredients that do not come from fossil fuels, require carbon-intensive production, or persist for hundreds of years. The announcement comes as part of ZymoChem's recent closure of a $21M Series A funding round, led by Breakout Ventures with investments from Toyota Ventures and lululemon athletica, inc. Previously, ZymoChem has secured several grants from the U.S. government, including their most recent $4M award from the Department of Energy in November 2023. 

Vermont Business Magazine Vermont State Police Trooper Michelle Archer has been selected as one of four finalists across the United States and Canada for the International Association of Chiefs of Police/Motorola Solutions Trooper of the Year Award. The prestigious award “recognizes four state troopers and provincial police officers who have demonstrated bravery, courage, leadership, and professionalism in the previous year,” according to the IACP. Trooper Archer was nominated by Vermont State Police Director Col. Matthew T. Birmingham following her lifesaving rescue in December of an 8-year-old girl who had fallen through thin ice into a pond in Cambridge. “I can think of no one who is more deserving of this honor than Trooper Archer.”

Vermont Business Magazine Today, State Treasurer Mike Pieciak stood with Governor Phil Scott; Karen Tronsgard-Scott, Executive Director of the Vermont Network Against Domestic and Sexual Violence; Ari Menard, Advocate from Cricle Vermont; and Heidi Stumpff, Vermont Regional President of M&T Bank, to announce a financial literacy partnership to support survivors of domestic abuse and sexual assault. Governor Scott issued a proclamation recognizing Feb. 5 to Feb. 11 as Domestic and Sexual Violence Awareness Week. 

Vermont Business Magazine Senator Bernie Sanders (I-Vermont), Chairman of the Senate Committee on Health, Education, Labor, and Pensions (HELP), released today a new report detailing the rigged system that allows 'Big Pharma' to charge Americans the highest prices in the world for prescription drugs. The HELP Committee Majority Staff uncovered how three U.S. pharmaceutical companies — Johnson & Johnson, Merck, and Bristol Myers Squibb — profit at the expense of the American people. The report documents how these companies make billions of dollars by charging Americans the highest prices in the world. The profits they make selling some drugs in the U.S far exceeds the money they make in the rest of the world combined. 

Vermont Business Magazine With the average cost of full coverage car insurance increasing 26 percent over last year, you may be shopping around for a new policy. Bankrate has calculated the "true cost" of auto insurance in all 50 states and the top 26 metro statistical areas (MSAs). Vermont ($1,353) had the fifth lowest true cost in the nation when median income was factored in, while having the lowest overall average auto insurance premium ($1,353). Massachusetts (1.76%) had the lowest true cost while Louisiana (6.53%) had the highest. Florida had the highest average annual premium ($3,945). The national average cost for full coverage car insurance is $2,543 per year, or $212 per month. Drivers with minimum coverage pay an average of $740 a year, or $62 a month.