Current News

Vermont Business Magazine A new study has revealed that Vermont has the ninth highest student debt per borrower.  Vermont is also the 3rd most educated state by percentage of the population with a bachelor’s education or higher, behind Massachusetts and Colorado. Meanwhile, Vermont has the fifth lowest average cost of college. Higher education research group Degree Choices analyzed data from the Office of Federal Student Aid to determine which states had the highest average student debt per borrower. Vermonters hold $3 billion of student debt across 78,800 borrowers, giving an average student debt per borrower of $38,071.

by Olga Peters, Vermont Business Magazine A conversation about Washington County’s economy starts with a question: Were you flooded? The county’s economy had achieved — or at least adapted to — a new normal after several years of upheaval from the global COVID-19 pandemic. Yes, central Vermont felt the same squeeze from shortages that confronted neighbors across the state: housing, workers and affordable child care. Still, many businesses’ ledgers contained more black ink than red. They’d reached a new normal, said Melissa Bounty, executive director of the Central Vermont Economic Development Corp. (CVEDC). “2023 felt by all accounts like it was going to be a very successful summer and fall,“ she said. Then, the July floods came.

Vermont Business Magazine A new Forbes Advisor report analyzed all 50 states and the District of Columbia to find which areas are the most and least affected by retail crime, and Vermont ranked as the 13th most impacted.  Organized retail crime has become an issue for retailers nationwide, with stores such as Target saying they are closing storefronts due to theft losses and for safety precautions. The National Retail Federation reported that more retailers in America felt organized retail crime was a higher priority in 2023 (78.1%) compared to 2022 (70.7%). In addition, shoplifting statistics show that 88% of retailers say that shoplifters are at least somewhat more aggressive and violent compared to one year ago. Their survey reveals that the vast majority of small business retailers nationwide have experienced theft at their stores (90%) and 83% said they believe retail theft is at least a somewhat major issue.

by Joy Choquette, Vermont Business Magazine A verse in a popular children’s song describes transportation in simple terms: No matter how we travel, by train, plane, car or boat, by bus, bike or whatever, we’ll see the whole world! What’s going on in Vermont transportation now? Are there new incentives business owners can offer employees? How did the summer flooding affect transportation around the state? And has a full recovery been made?

by Olga Peters, Vermont Business Magazine For most of the year, 2023 looked profitable for Central Vermont businesses. Then July’s floods put many of them on hold. How quickly a business reopens after a disaster depends on multiple factors, including the type of business. For example, restaurant equipment - stoves, freezers, food, tables, and chairs - is more expensive to replace than some other types of business inventory. Also, how quickly the business found contractors and how much damage was done to their space.

by Joyce Marcel, Vermont Business Magazine Vermont, like much of the nation, is trapped at the vortex of three different scourges: homelessness, drug addiction and mental health problems. They are all tangled and wrapped around each other, and when you add a statewide housing shortage and climate change, they offer a complex social services problem that cannot be easily separated, studied or cured. One of the people working hard to resolve these issues is Maura Collins, 46, the brilliant, empathetic and compassionate executive director of the Vermont Housing Finance Agency.

Vermont Business Magazine Lake Champlain Maritime Museum announced today the appointment of new executive director, Chris Sabick. Chris Sabick has been the museum’s director of research and archaeology since 2013 and brings decades of experience and a career-long dedication to Lake Champlain, research, history and public access into this new leadership role. A nautical archaeologist by trade, Sabick has spent his entire professional career working on the lake and surrounding waterways with Lake Champlain Maritime Museum. His experience, exploration and expertise of the lake, the region’s history and the museum make him uniquely qualified to take the helm. 

by Community News Service Lawmakers say efforts to reduce the effects of climate change are more urgent than ever after devastating flooding caused significant damage throughout many parts of Vermont this summer. Reducing the use of gas-fueled automobiles tops the lists of 16 lawmakers interviewed by the Community News Service this fall. Among their ideas are to create incentives for more people to purchase electric vehicles, to build more EV charging stations, to promote more public transportation where practical, and to improve the reliability of internet service in rural areas so more Vermonters can drive less and work from home more. Some lawmakers cautioned against setting unachievable goals, however.

Vermont Business Magazine After the match ends and the courts quiet down, tennis balls embark on a new eco-friendly journey. On November 15th, National Recycling Day, tennis enthusiasts from Washington state to Washington DC are breaking out their racquets to spotlight sustainability in the sport they love. Spearheading this year's campaign are the RecycleBalls Youth Ambassadors, a dynamic group of over 50 teenagers from across the globe. These young environmental advocates, who are also passionate tennis players, have taken the lead in mobilizing their communities. 

Vermont Business Magazine National Life Group and Sodexo continued the annual tradition of giving away free to-go Thanksgiving dinners Tuesday. In collaboration with nine area organizations and 70 volunteers, over 1,200 meals were prepared and delivered or picked up in one of two Montpelier locations. Meals by the numbers: 350 pounds of potatoes, 375 pounds of squash, 30 gallons of gravy, 350 pounds of turkey and 275 pounds of stuffing. Both traditional turkey and vegetarian meals were offered. Meals are reserved in the weeks leading up to the distribution days. This year, 1,175 meals were reserved, and Sodexo prepared 1,237 meals. The leftover 60-plus meals were given to local law enforcement to hand out to unhoused folks in the Montpelier area.

Vermont Business Magazine Vermont State Treasurer Mike Pieciak has been named the recipient of the 2023 Rising Stars Alumnus of the Year. A 2016 Rising Star recipient, Pieciak was inaugurated in January as Vermont’s 31st treasurer. In his new role, Pieciak has worked to strengthen Vermont’s economy and build financial equity. This past legislative session, Pieciak successfully championed the passage of Vermont Saves, a publicly administered retirement program that will be available to the more than 80,000 Vermonters who currently lack access to an employer-based retirement plan. 

by Timothy McQuiston, Vermont Business Magazine On August 28, 2011, the covered bridge in Lower Bartonsville village washed down the Williams River during Tropical Storm Irene. A video showing the 1871 bridge disappearing into the river included gasps from onlookers. It was essentially intact as it appeared to be sucked into the river. You can find the video on YouTube. The bridge was rebuilt and reopened in January 2013 as a replica of the original. The engineering of the new span received design awards. What Irene taught Vermont was that the new world of climate change is requiring much more resilient infrastructure. What the floods in July taught was that downtowns must also become resilient.