Current News

Vermont Business Magazine Vermont Electric Power Company (VELCO), a Rutland-based provider of electricity transmission services in Vermont, has announced the advancement of two highly experienced professionals to key leadership positions. Tom Dunn, President and CEO of VELCO, today unveiled the elections of Mike Fiske as Chief Operating Officer (COO) and Brian Connaughton as Vice President of Transmission Services and Asset Maintenance. Their elections were unanimously approved by the company’s Board of Directors on October 12, 2023.

Vermont Council on Rural Development We’re excited to announce that Charlie Smith joined our team on October 2nd as the interim Executive Director. In recent years, Charlie has provided transitional leadership to many Vermont non-profit organizations including the ECHO Leahy Center for Lake Champlain, the Flynn Center for the Performing Arts, the Vermont Energy Investment Corporation, and Vermont PBS to name a few. Prior to that, he served as Secretary of Human Services and Secretary of Administration for Governor Jim Douglas and was the Vermont President for KeyBank.

Vermont Business Magazine The University of Vermont Medical Center’s Thrombosis and Hemostasis Program will celebrate 20 years of lifesaving care this World Thrombosis Awareness Day on October 13. The program, housed within the Hematology Oncology Division, is one of the nation's largest. It has consistently offered specialized care while growing from humble origins to a team comprising seven physicians, two advanced practice providers, and two dedicated nurses. Now, each year, the program extends its expertise to over 1,200 new patients. As the program marks this significant milestone, it will also engage in awareness-building for venous thromboembolism (VTE) – a condition that encompasses deep vein thrombosis and pulmonary embolus. VTE is the third leading cardiovascular disease, with nearly 1 million events that cause 60-100,000 deaths annually in the US.

Vermont Business Magazine M&T Bank (NYSE:MTB) approved more US Small Business Administration (SBA) loans in the past year than ever before and finished the SBA's 2023 fiscal year as the sixth-largest lender in the country. This marked the 15th consecutive year M&T has ranked among the nation's top 10 SBA lenders. M&T has branches across Vermont. M&T approved 1,822 SBA 7(a) loans for a total of $224.2 million in fiscal 2023, which ended Sept. 30. That represents a 26.5% increase in SBA loans the bank approved in 2022 and a nearly $21 million increase over last year. This year's loan volume also eclipsed the previous high mark of 1,739 SBA loans M&T approved in 2016.

Vermont Business Magazine The Robert Frost Stone House Museum at Bennington College, located in Shaftsbury, VT, has received a total of $24,250 in grants from the Vermont Arts Council and the Vermont Agency of Commerce and Community Development’s Historic Preservation Barn Grant program. Both grants will help restore the property’s distinctive New England barns and make greater use of these spaces for programs and events. The Historic Preservation Barn Grant of $5,500, which must be matched by the College, will be used to replace the metal roof on the largest of the property’s outbuildings. With the roof repaired, the museum will expand the use of the barn for readings, concerts, art installations, workshops, and their annual Holiday Makers’ Market.

Vermont Business Magazine ATTOM, a leading curator of land, property, and real estate data, released its Q3 2023 US Foreclosure Market Report, which shows there were a total of 124,539 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 28 percent from the previous quarter and 34 percent from a year ago. The report also shows there were a total of 37,679 U.S. properties with foreclosure filings in September 2023, up 11 percent from the previous month and up 18 percent from September 2022. Vermont had by far the lowest rate at one in every 17,554 housing units. The US average was one in 1,121 and the highest rate (New Jersey) was one in 595.

Vermont State Police Members of the public have provided more than 150 tips to investigators in the 24 hours since the Vermont State Police released a sketch of a person of interest connected to the killing of 77-year-old Honoree Fleming in Castleton. Detectives have been pursuing leads and conducting follow-up investigation as necessary in response to the tips. The Vermont State Police thanks all those who have shared information regarding this homicide and the possible identity of the individual depicted in the composite police sketch. This case remains an open and active investigation. No one is in custody. 

Vermont Business Magazine Since announcing a national blood and platelet shortage a month ago, thousands of donors across the country have rolled up a sleeve to help rebuild the American Red Cross blood and platelet supply. As that generosity continues, the Red Cross is working around-the-clock to ensure patients have access to lifesaving transfusions and must collect 10,000 additional blood and platelet donations – over and above expectations – each week over the next month to sufficiently meet hospital needs. Donors of all blood types are urged to book a time to give now, especially those with type O blood or those giving platelets. Donor sites are available beginning today. See list below.

Vermont Business Magazine FEMA announced today that the Waterbury Disaster Recovery Center will close permanently at 2 p.m. Saturday, October 14. The Barre and Ludlow centers will remain open. The deadline to apply for assistance has been extended to October 31, 2023.

Vermont Business Magazine The Vermont Department of Environmental Conservation (DEC) announces over $16 million in construction funding to Vermont schools to reduce stormwater runoff and pollution entering Lake Champlain and Lake Memphremagog from Vermont public schools through the Green Schools Initiative. The Green Schools Initiative offers funding and technical assistance to help public schools and state colleges meet provisions outlined in the Vermont Clean Water Act; specifically stormwater run-off regulations outlined in the Three-Acre General Permit. The permit requires most sites with three or more acres of paved or developed surfaces, including roofs and parking lots, to treat polluted stormwater and reduce runoff before it flows into local waterways.

Vermont Business Magazine Today, Burlington Mayor Miro Weinberger announced he will seek City Council Approval for a 25-year lease extension with the Vermont Air National Guard (VTANG) at the Patrick Leahy Burlington International Airport at the City Council’s regular meeting on October 23. VTANG’s current lease provides the Guard operating rights until June 30, 2048. However, Department of Defense regulations dictate military installations must have more than 25 years remaining on their lease to allocate Military Construction (MILCON) funding. Thus, without an extension (until 2073), VTANG will be unable to move forward with $51 million in planned and federally funded capital investments at the airport in the next five years. These capital investments include $7.7 million in renewable energy and clean heating projects and $32 million for the construction of new Net Zero buildings.   

Vermont Business Magazine The SBA Vermont District Office is accepting nominations for its 2023 small business awards. Previous Vermont winners include Ben and Jerry’s, Mamava, Blake Hill Preserves and Keene Perspectives. The annual awards recognize the achievements of SBA-assisted small businesses and the contributions they have made to their communities and Vermont’s economy. To be nominated and receive one of the following local awards, the small business nominee must fit within the category of the award, demonstrate success in business and complete and submit the required nomination package information.