Current News

Vermont Business Magazine Blue Cross and Blue Shield of Vermont recently won a key victory in its lawsuit against a multinational pharmaceutical manufacturer. On January 22, 2024, Chief Judge Geoffrey W. Crawford of the U.S. District Court for Vermont issued a ruling largely denying Teva Pharmaceutical’s motion to dismiss a putative class action brought by Blue Cross and Blue Shield of Vermont. The ruling brings Blue Cross VT and the putative class one step closer to economic relief for harms flowing from the anticompetitive tactics of Teva Pharmaceuticals alleged in the lawsuit. On August 22, 2022, Blue Cross VT filed suit against Teva, the manufacturer of Copaxone, a brand-name drug that alleviates the symptoms of multiple sclerosis (MS). After learning of Teva’s years-long anticompetitive scheme to reap excessive profits from Copaxone, Blue Cross VT petitioned the court to recover the excessive costs payers across the country paid on behalf of members as a result of Teva’s illegal and anti-competitive conduct.

Vermont Business Magazine The Vermont Agency of Natural Resources (ANR) is pleased to announce that both Niquette Bay State Park in Colchester and Alburgh Dunes State Park in Alburgh achieved the Lake Wise Award in 2023. These awards recognize the parks’ lake-friendly management strategies and their work to preserve the water quality of Lake Champlain. They join Lake Carmi State Park in Franklin, Ricker Pond State Park in Groton, and Brighton State Park in Island Pond in earning this award.

Vermont Business Magazine On Friday, February 2, Vermont State University Castleton Men’s Hockey team will host the third annual Breaking the Ice on Mental Health event as they take on Southern Maine in a 7pm game at Spartan Arena. The Castleton Men’s Hockey team, led by head coach, Kyle Richards, is made up of a diverse team of players from around the world who are establishing strong ties in our local region.

Northeastern Vermont Development Association Kyle Dwyer has joined NVDA staff as Regional Planner. Kyle grew up in Connecticut, graduated from UConn and earned a Master's degree at the University of Michigan where he studied environmental policy and planning. He joined the NVDA team in January and in addition to assisting with NVDA's active EPA Brownfields program, he'll work to update the Comprehensive Economic Development Strategy for northern Vermont. Kyle enjoys hockey, skiing, and playing the piano. He's also a big UConn basketball fan and supporter of Boston sports! Welcome to the Northeast Kingdom, Kyle.

Vermont Business Magazine The US Environmental Protection Agency's (EPA) New England Office recently awarded four 2023 Regional Wastewater Treatment Awards to Vermont wastewater treatment plant operators to recognize them for their commitment to improving water quality. The EPA Regional Wastewater Awards Program recognizes personnel in the wastewater field who have provided invaluable public service managing and operating wastewater treatment facilities throughout New England. 

Vermont Business Magazine Nominations are now open for the 2024 Vermont Agricultural Hall of Fame through www.VTAgHallOfFame.org. Nominations will be accepted in three categories: Emerging Leaders, Ag Innovators, and The Lifetime Achievement Award. Nominations will be accepted through Friday, March 8th, 2024, at 5 PM. With over 100 Vermonter’s recognized in the last 22 years, the Vermont Agricultural Hall of Fame is ready to accept YOUR nominations for 2024! All are welcome to submit a quality nomination at a chance to honor Vermont farmers, producers and people dedicated to supporting Vermont’s working landscapes.

Vermont Business Magazine Concepts NREC, based in White River Jct, has acquired RBTS, Inc, a Pennsylvania company renowned for its expertise in rotordynamics engineering and software solutions. This strategic move reinforces Concepts NREC's leadership and position as the most comprehensive turbomachinery solutions provider in the world today. Founded in 1986, Rotor Bearing Technology & Software, Inc. (RBTS) provides engineering services and software for the analysis of rotating machinery dynamics, bearings, bearing systems, and their structural components. Customers of both Concepts NREC and RBTS will experience the immediate benefits of this union, gaining access to an expanded pool of expertise and software capabilities that transcends traditional boundaries and leverages the strengths of both companies. Financial terms were not disclosed.

Vermont Business Magazine On Monday, Senator Peter Welch (D-Vermont), Chair of the Agriculture Subcommittee on Rural Development and Energy, visited with business leaders at the Black River Innovation Campus (BRIC) in Springfield to learn about new programs and progress on the Park Street School renovation project. The project aims to revitalize Springfield’s town center by developing infrastructure to support technological innovation and prepare the coming generations of Vermonters for a modern workforce. 

Vermont Businesses for Social Responsibility Join VBSR and The University of Vermont – Grossman School of Business Sustainable Innovation MBA (SI-MBA) program February 8 as we network and connect while social responsibility experts share their mission-driven projections for the year – for Talent, People and Culture, ESG, Climate Resiliency, Supply Chain, and more. The "2024 Forecast: What Can We Expect for Purpose-Driven Businesses?" panel promises to be a robust way to ground your organization in best practices as the year begins. Also, VBSR, Champion Members Seventh Generation and SunCommon, and VPIRG will host the annual Businesses for Climate Action Lobby Day at the Vermont Statehouse on Thursday, February 1 in Montpelier.

Vermont Business Magazine Champlain College Online (CCO) has announced a new truED Partnership with Lake Champlain Chamber (LCC), Burlington’s nonprofit Chamber focused on economic opportunity for all Vermonters by serving as a resource for the business community. Through this partnership, eligible LCC members and their families, as well as LCC staff, qualify for reduced tuition for more than 80 degree and certificate programs offered 100% online by the regionally accredited college. CCO’s career-focused undergraduate and graduate programs in business, leadership, human resources, IT and cybersecurity are well-matched with the business and entrepreneurially focused members of LCC. Given the organization’s goal of uplifting Vermont’s business and technology economy, there is ample opportunity for cutting-edge CCO courses to expand LLC member knowledge and skills across many business sectors. 

Vermont Business Magazine Governor Phil Scott was joined by Winooski Mayor Kristine Lott and other local and state leaders today to celebrate the overwhelming success of Winooski’s TIF District which has led to more jobs, more housing, and an increase in the grand list and contributions to the state education fund. Public investments have spurred further development by the private sector. Since 2004, the Vermont Student Assistance Corporation (VSAC) and the Community College of Vermont built new buildings within the TIF; the Champlain Mill along the Winooski River was transformed; a former KeyBank that sat empty at the corner of Main Street and West Allen Street is now a thriving brewery and restaurant; and five housing developments were built, adding 438 units of new stock. These projects grew the grand list and increased property value in the city. Winooski’s grand list grew from $25 million in 2004 to $104 million today.

by Timothy McQuiston, Vermont Business Magazine The General Fund, Transportation Fund and Education Fund all exceeded their monthly cash flow targets in December, despite a 12% miss by the Personal Income tax, which came in nearly $13 million below projections. The GF was led by the Corporate Income tax (up $10 million) and the Other category (up nearly $3 million), which includes interest income. Vermont’s GF, Transpo Fund and Ed Fund receipts were a combined $287.7 million, exceeding the $280.9 million monthly consensus target by $6.8 million, or 2.4%. Year-to-date combined receipts are $26.1 million, 1.7%, above their $1.5 billion target.