Current News

Agency of Commerce and Community Development To get more money to flood damaged organizations, the state is increasing Business Emergency Gap Assistance Program (BEGAP) awards for most recipients, and the change will be retroactive. The previous BEGAP formula awarded most grantees 20% of their net uncovered damages (damages less insurance proceeds, donations, or other grants) with a cap of $20,000.  This shift in the program would allow up to 30% of net uncovered damages and remove the $20,000 cap. For businesses that suffered more than $1 million in damages, they would be eligible for 20% of net uncovered damages with a $500,000 cap.

Vermont Business Magazine Mavic, French manufacturer of innovative bicycle wheels and equipment, has opened an office in the cycling-rich community of Waterbury, Vermont. The facility will support sales and service in North America. Mavic will focus on reconnecting historic and past accounts as well as new customers to re-establish a robust IBD and OE network. With support from the newly established Mavic Service Center in Waterbury, the company will be able to provide a full spectrum of support to dealers, partners, and riders throughout North America. The team is fully operational with a complete sales and service staff eager to connect with customers. The company will initially focus on wheels with plans to offer the complete Mavic line of products in the near future.

Vermont Business Magazine tru Independence, a $10.5 billion and growing national independent advisory platform for investment professionals, today announced its partnership with 44 North Capital, supporting the Vermont-based wirehouse breakaway. 44 North is a financial planning, wealth management and investment firm based in Burlington. The addition of 44 North to tru’s community of advisors marks the fifth team tru has partnered with year to date, totaling $2.1 billion. 44 North's selection of tru was significantly influenced by the firm's Experience As a Service (EAS) platform. The innovation of a platform focused on behavioral finance, fintech, and human talent was a differentiator for the team and, not only to elevate the client experience but also to drive growth.

Vermont Business Magazine The Vermont Public Utility Commission is actively seeking applications for membership on two advisory groups to inform the design of Vermont’s potential Clean Heat Standard program.  Pursuant to Act 18 of 2023 (the Affordable Heat Act), the Commission will appoint these members of the public and representatives of various organizations to serve on either the Technical Advisory Group or the Equity Advisory Group. 

Vermont Business Magazine The School Construction Aid Task Force will have its first working meeting this Friday, September 22 at 1 pm. The Task Force is made up of a range of subject matter experts and key stakeholders and was formed to consider re-establishing a direct state aid program for local school construction. In 2008, in response to the global financial crisis, Vermont implemented a moratorium on direct state aid for local school construction and is currently the only New England state that still has its moratorium in place.     

Vermont Business Magazine Family-owned company Lake Champlain Chocolates (LCC) has been a mainstay in the south end of Burlington since its founding in 1983 so it is only fitting that the Flagship Store at 750 Pine Street received a significant renovation and expansion to mark the company’s 40th year in business. Born from a dare to do better, Jim Lampman founded Lake Champlain Chocolates with hand-rolled creamy truffles crafted with local Vermont ingredients.  Forty years later, the company is still going strong with national distribution from coast to coast while staying true to its Vermont roots.   

Vermont Business Magazine Senator Bernie Sanders (I-Vermont), Chairman of the Senate Health, Education, Labor, and Pensions Committee (HELP), today led the committee in marking up critical legislation to address the primary care crisis in America, including the major shortage of nurses, doctors, dentists, mental health professionals, and other important health care workers across the country.

Vermont Business Magazine The Vermont Department of Forests, Parks, and Recreation’s Urban & Community Forestry Program (UCF) have announced nearly $500,000 is available through its grant program. UCF’s 2024 grants program is larger than ever before, thanks primarily to an allocation from the USDA Forest Service through the Inflation Reduction Act of 2022. Three distinct grant categories are now open and are accepting applications through January 5, 2024. Municipalities, public educational institutions, and nonprofit organizations are eligible to apply for all categories. 

Vermont Business Magazine Average gasoline prices in Vermont are $3.81 per gallon, up 5 cents per gallon from last week, up 1 cent/g from a month ago and up 5 cents/g from the same time last year ($3.76/g). The lowest price in the state is $3.59/g in Troy while the highest was $3.99/g in Wolcott. The national average price of gasoline fell 1 cent/g in the last week, averaging $3.83/g today. The national average is up 1 cent per gallon from a month ago and stands 16 cents per gallon higher than a year ago ($3.67/g).

Vermont Business Magazine A new report from the non-profit Energy Action Network (EAN) finds that Vermont has made the least progress of any state in the Northeast toward the Paris Climate Accord emissions reduction commitment made by the US and is not on track to meet its own state legal obligations by 2025 and 2030 under the Global Warming Solutions Act. Vermont has the 2nd highest per capita emissions in New England, behind only New Hampshire, and the 3rd highest in the Northeast, with only Pennsylvania and New Hampshire creating more climate pollution per person. Looking internationally, Vermont’s per capita climate pollution is more than twice as high as the global average and is significantly higher than most countries. 

Vermont Business Magazine Lake Champlain Maritime Museum has announced a donation that it says will further the study and appreciation of regional maritime history: The museum is donating its replica 1862-class sailing canal schooner Lois McClure to the Canal Society of New York, a non-profit organization dedicated to the preservation and interpretation of the state's historic canals. The replica schooner Lois McClure has been a staple of the museum’s educational and outreach programs for many years. Initiated in 2001, the canal schooner replica project’s goal was to understand the sailing canal schooner unique to Lake Champlain, how it was built and operated, and the impact the canals had on the region. 

Vermont Business Magazine Vermont’s black bear population is estimated at 7,000 to 8,500 based on 2022 data, the most recent available, according to the Vermont Fish and Wildlife Department. “It is important to look at the 2022 population estimate as part of the typical cycles of growth and decline in a bear population that is stable over the long term,” said wildlife biologist and Black Bear Project Leader Jaclyn Comeau.  “The 7,000 to 8,500 bear estimate for 2022 is a five-year high.  We will be watching closely in the coming few years to see if the population drops as we have seen it do before, after high years in previous cycles.”