Current News

Vermont Business Magazine The Citizens Business Conditions Index (CBCI) fell in Vermont, below both the regional and national levels. Vermont had been at or above the comparable levels the last three years. Citizens Bank has branches in Vermont. Meanwhile, across the region a strong labor market and resilient consumer trends supported a slight improvement in economic conditions during the third quarter as inflation showed some signs of abating, according to the national CBCI, released today. After falling below 50 in the second quarter, the index rose to 50.7 in the third quarter, signaling a return to modest growth. The regional index rose four points to 52.7, while the Vermont index fell nearly seven points to 47.8.

Vermont Agency of Agriculture Food & Markets The Maple Agriculture Development Grant aims to develop, grow and sustain maple businesses throughout Vermont. High priority projects include improvements relating to climate resilience, operational efficiency, and food safety and quality. Project awards will range from $15,000 to $100,000 with no match requirement; a total of $543,750 is available to award. These funds are a result of a report from the Governor’s Commission on the Future of Vermont Agriculture, identifying maple, meat, and produce as Vermont agricultural sectors with critical funding needs. 

Vermont State Police On the above date and time, the Vermont State Police received a report of a two-vehicle crash involving a motorcycle v. passenger car in the area of Cemetery Hill Rd and US RT 2. Both the operator and passenger of the motorcycle were flown to UVM Medical in Burlington and Dartmouth Hitchcock Medical Center for life threatening injuries. David Garneau of Worcester was issued a citation to appear in the Washington County Superior Court - Criminal Division to answer to the charge of Negligent Operation and DUI - Drug. The passenger of vehicle 2 (Motorcycle), Annette Cleroux of Ontario died from her injuries on October 27th.  

Vermont Center for Emerging Technologies In early August, the ad tech service was named to the Inc. 5,000 list of fastest-growing private businesses in the country. Co-founder and CEO Mike Lane, who also serves on VCET’s board, says the award is recognition for years of hard work. Fluency was co-founded by Lane, the former co-founder/COO of Dealer.com, in November 2017. After he sold the latter in 2014, Lane took a few years off – remodeling a bathroom and building a cabin – before itching to start something new. Lane co-founded Fluency with three partners, all former co-workers at Dealer.com. The group was eager to start something together but didn’t know what at first. 

Vermont Business Magazine VOBA Fifth Annual Outdoor Economy Summit will be held November 2. Join this networking event with 125 Vermont outdoor businesses, organizations, service providers, and policymakers to envision our future outdoor economy. Hear remarks from State Treasurer Mike Pieciak on November 2. Learn how outdoor recreation is viewed alongside climate and energy as notable sectors in boosting labor force participation and economic growth as well as why tourism and manufacturing are resilient industries.

Vermont Business Magazine During its October Board Meeting, the VCIA Board, based on feedback received, voted to approve changes to the 2024 Annual VCIA Conference. Please note, the conference will occur on the same week, August 12-15, as it had previously been listed, but the following structural changes have been made to enhance America’s largest captive conference. 

Vermont Agency of Transportation This weekly report is a list of planned construction activities that will have traffic impacts on state highways and interstates throughout Vermont for the week of October 30. Please remember to drive safely in all work zones. Lives depend on it.

by Matthew Durkee, New England President, Community Bank In all my years of banking, I never thought I would be writing about home buyers deciding between making a cash offer, or using a mortgage to purchase a home. However, in April 2023, a third of all US home purchases were made entirely in cash. The share of homes bought with cash remains elevated, above pre-pandemic levels, due in part to the current mortgage rate landscape. Elevated mortgage rates are deterring homebuyers who utilize a mortgage more than deterring all-cash buyers, causing the percentage of cash purchases to rise.

Vermont Business Magazine White + Burke Real Estate Advisors, a leading Vermont-based commercial real estate firm, will host the 9th Annual Vermont Development Conference on November 8, 2023 at the Hilton Waterfront Hotel in Burlington. The conference brings together development professionals across the industry and provides an opportunity to discuss emerging trends, policy and permitting, and best practices. The 2023 Vermont Development Conference promises a day of informative sessions and networking opportunities. The conference kicks off at 9:00 a.m. with the keynote session "Emerging Trends in Real Estate 2024," featuring Onay Payne of Manulife Investment Management and David Williams of Lafayette Square. Attendees will gain invaluable insights into the national real estate landscape and its intersection with socioeconomic mobility.

Vermont Business Magazine The Upper Valley Business Alliance and Upper Valley Arts Alliance are pleased to announce that the Upper Valley's nonprofit arts and culture industry generated $18,972,138 in economic activity in 2022-2023, according to the newly released Arts & Economic Prosperity 6 (AEP6), an economic and social impact study conducted by Americans for the Arts. That economic activity of $18,972,138 in spending by nonprofit arts and culture organizations and $2,431,895 in event-related spending by their audiences supported 308 jobs and generated $2,450,720 in local, state, and federal government revenue. Spending by arts and culture audiences generates valuable commerce to local merchants, a value-add that few other industries can compete with.

Vermont Business Magazine The team at Burlington Emergency & Veterinary Specialists (BEVS) is proud to announce the opening of a new service dedicated to providing advanced eye care for pets. Veterinary ophthalmology is a division of veterinary medicine focused on the structure, function, and diseases of the eye of all animal species. BEVS’ Ophthalmology Department provides a full array of leading-edge diagnostics, and advanced medical and surgical treatments to preserve and restore vision in dogs and cats.

Vermont Business Magazine Last week, MENTOR Vermont welcomed mentoring program coordinators and mentoring advocates from across the State to the 2023 Vermont Mentoring Symposium, which was held at the Waterbury State Office Complex. The theme for the annual 2023 Symposium was “Fostering Self-Agency in Youth,” with sessions focused on how mentors can create an environment where youth are empowering themselves, where adults work alongside young people, and support them to thrive in their own right.