Current News

Vermont Business Magazine Evernorth closed its fourth multi-investor fund - Housing New England, Fund IV – on June 15, 2023. This fund will provide equity to finance affordable housing in Maine, New Hampshire and Vermont. Fourteen investors committed a total of $54,050,000 in equity making Housing New England, Fund IV (HNE Fund IV) a significant financial resource for the region’s critical affordable housing needs. HNE Fund IV’s investors include community, regional and national banks as well as one of the nation’s largest mortgage banking organizations.

Vermont Business Magazine Average gasoline prices in Vermont are unchanged from last week at $3.58 per gallon. The lowest price in the state yesterday was $3.39/g while the highest was $3.89/g, a difference of 50 cents per gallon. The national average price of gasoline is unchanged in the last week, averaging $3.54/g today. The national average is down 1.5 cents per gallon from a month ago and stands 134.2 cents per gallon lower than a year ago, according to GasBuddy data.

Vermont Business Magazine To celebrate its 175th anniversary, National Life Group is sponsoring Burlington’s Independence Day Celebration on July 3 from 5:00 – 11:00 p.m. at Waterfront Park, including a first ever drone show. Produced by Burlington’s Department of Parks, Recreation and Waterfront, Burlington’s Independence Day Celebration is the biggest event in Vermont and includes live music, food trucks, fireworks and family friendly activities. 

Vermont Agency of Agriculture Food & Markets Governor Phil Scott and Senator Bernie Sanders invite everyone to participate in a celebration of the Lamoille Valley Rail Trail – recently completed and now the longest rail trail in New England! On Saturday, July 15th, the Governor will bike the entire 93-mile trail from Swanton to St Johnsbury and make brief water stops along the trail with Senator Sanders. The public is invited to join all or part of the governor’s ride and any of the planned brief stops.

by Danny Monahan As the prevalence of autism continues to rise dramatically throughout the country and the world, the shortage of trained professionals prepared to treat children with the disorder has reached near-crisis levels. This pressing need for more providers prompted Vermont couple Chris and Cortney Keene, who have made helping children in need their life’s work, to open their own behavioral health center for children with autism and other neurodiverse profiles. The center, Keene Perspectives, opened in White River Junction in 2017.

by Danny Monahan The Small Business Administration and VermontBiz held its annual small business awards ceremony June 15 at the ZenBarn in Waterbury, Vt. The event recognized and celebrated the outstanding contributions of Vermont's entrepreneurs over the past year. For more than 20 years, the SBA Vermont District Office and VermontBiz have partnered annually to recognize individuals and businesses throughout the state that have increased sales, grown employment and made significant contributions to their communities.

Vermont Agency of Transportation This weekly report is a list of planned construction activities that will have traffic impacts on state highways throughout Vermont for the week of June 26. Please remember to drive safely in all work zones. Lives depend on it.  

by Matthew Durkee, New England President, Community Bank In the current economic landscape, interest rates have emerged as a focal point that is driving discussions and shaping financial decisions. Predicting their trajectory is inherently challenging and subject to various factors and uncertainties. Interest rates have been on the rise since early 2021, when the injection of significant government stimulus funds contributed to a sharp rise in market liquidity and an increase in the inflation rate. In an attempt to tame inflation, the Federal Reserve increased its various borrowing rates, and these were passed to the public through higher borrowing costs at banks and other lending institutions. 

Vermont Business Magazine Over 300 business-minded community members gathered at Hula to support LaunchVT’s 2023 cohort at Demo Night, the program’s annual pitch competition and celebration of entrepreneurship. The 2023 cohort presented their businesses to the audience and a panel of investor judges, including Geoff Strawbridge, Janice St. Onge, and Michael Metz. Two businesses walked away with cash awards, and all eight will receive professional services from local businesses worth over $100,000. 

Vermont Business Magazine Fidium Fiber’s expansion in Vermont has brought multi-gig fiber to more than 10,000 homes and businesses across the state, with more Vermonters being connected every day. Communities in Addison County (Hancock, Middlebury, Ripton, Salisbury and Weybridge), Franklin County (Bakersfield and Fairfield) and Chittenden County (Colchester, Essex, Milton and Williston) are the latest in the state to gain access to Fidium Fiber. With continued buildout planned to take place over the course of the summer and fall, more than 114,000 Vermont residents and businesses will have access to Fidium by year’s end.

Vermont Business Magazine ACERTUS, the only automotive logistics-as-a-service platform, today announced it has been named the exclusive logistics provider for Hemmings, the world's largest online collector vehicle marketplace, based in Bennington, Vermont. The partnership helps customers overcome one of the biggest barriers to buying and selling collectible cars: fast and efficient shipping they can trust. By integrating with ACERTUS’ platform, Hemmings delivers seamless access to appropriate carriers so collectors can easily purchase one-of-a-kind vehicles and secure safe, reliable shipping in one swift transaction.

by Timothy McQuiston, Vermont Business Magazine Secretary of Administration Kristin Clouser released Vermont’s revenue results for May 2023. May was another underperforming month for the General Fund, however, both the Transportation Fund and the Education Fund achieved their respective monthly targets. The personal income tax, the most important single source, lagged against expectations and is now falling behind for the month and the year with only one month to go. The State’s General Fund, Transportation Fund, and Education Fund receipts were a combined $197.5 million, missing the $199.4 million monthly consensus target by -$1.9 million, or (1.0%).