Current News

Vermont Business Magazine The Southwestern Vermont Chamber of Commerce, in partnership with Berkshire Bank, hosted over 130 attendees, mostly women, at the second annual Women In Leadership Luncheon at the Inn at Manchester’s Celebration Barn in Manchester, Vermont on Wednesday, May 17th. The luncheon highlighted the many women leaders in the Southwestern region of Vermont, while creating connections, partnerships and networking opportunities with those in attendance. Ashley Austin, the new co-owner of the Northshire Bookstore and CEO of ALG, provided the keynote address. Austin started her firm specializing in intellectual property rights management for iconic musicians, entertainers and artist estates, by bringing a fresh approach that is unrivaled in the entertainment industry. Since launching the company in 2013, she has built her professional brand on a philosophy of integrity and an unyielding respect for artistry. A Vermont native, Austin and her husband Scott have called Manchester their home since 2017. She and her sisters Cathleen and Nicole Ihasz acquired the Northshire Bookstore in 2022

Vermont Business Magazine Scott vetoes S.5, will 'financially punish' those who can't afford it: S.5, An act relating to affordably meeting the mandated greenhouse gas reductions for the thermal sector through efficiency, weatherization measures, electrification, and decarbonization, also known as the "Affordable Heat Act," passed both the House and Senate and was then vetoed by Governor Phil Scott. He issued the the following statement: “From the start of this conversation, I have clearly, and repeatedly, said I agree we need to reduce our greenhouse gas emissions, including in the thermal sector. However, I strongly believe the right approach is to help people make the transition, not financially punish those who cannot afford to do so... For these reasons and more, I will veto S.5." The Legislature subsequently overrode the governor's veto (in the Senate by one vote) and the law will go into effect on July 1. 

Vermont Business Magazine BHAKTA Spirits, the world’s preeminent House of Vintages, announced today the limited release of its next BHAKTA 50 (1868–1970), Barrel 24: “Gandhi” ($450). This novel new expression of the oldest spirits on Earth will be distributed nationally in limited supplies. Only 100 bottles will be offered on a first-come, first-served basis through the brand’s e-commerce partner. Each barrel of BHAKTA 50 is named for an iconic historical character whose deeds echo through time. This 24th barrel honors Mahatma Gandhi, whom we remember for his intelligence, commitment to nonviolence, and unique ability to inspire a largely fragmented country.

by Timothy McQuiston, Vermont Business Magazine Longtime real estate developer O’Brien Brothers broke ground today on a housing development that will bring Vermont its first 100% fossil fuel-free community of climate resilient, energy-efficient residences powered by clean electricity. Backed up by in-home and onsite battery storage, the neighborhood will ensure protection from increasingly severe weather and power outages. US Senator Peter Welch, Governor Phil Scott, O’Brien Brothers CEO Evan Langfeldt and GMP CEO Mari McClure were joined at the groundbreaking celebration by more than 100 guests at Hillside East off Old Farm Road in South Burlington. The neighborhood and homes are designed with climate and storm resiliency in mind and the Hillside East residents won’t need fossil fuel to run their homes. The neighborhood plan includes a mix of 155 single family, multi-family and permanently affordable homes and will create a model for taking on the damaging impacts of climate change across Vermont.

Vermont Business Magazine ACLU affiliates in New Hampshire, Maine, and Vermont have settled a federal lawsuit challenging unconstitutional Border Patrol checkpoints in northern New England. The ACLU filed suit in August 2020, following a series of unlawful searches and seizures at a Border Patrol checkpoint in Woodstock, NH—a small town (population 1,374) in the White Mountains approximately 90 miles from the Canadian border. Border Patrol has not operated the Woodstock checkpoint—or any other temporary interior checkpoints in northern New England—since 2019. In exchange for the withdrawal of this lawsuit, Border Patrol has agreed to refrain from operating the Woodstock checkpoint until January 1, 2025.  

Vermont Business Magazine The University of Vermont Board of Trustees approved the naming of the Patrick Leahy Honors College at its May meeting Friday, aligning student and faculty excellence across a wide range of academic programs with the ongoing legacy of the retired senator’s 48 years of service to the nation and support for his home state of Vermont. Senator Leahy and his wife, Marcelle, attended Friday’s meeting to witness the Board’s approval vote for the naming. The senator was appointed in March by President Garimella to the position of President’s Distinguished Fellow, a role in which he advises UVM students, faculty members and staff, appears as a guest lecturer in classes and at public events, and acts as a conduit between the university and organizations and communities in all corners of the state.

by Timothy McQuiston, Vermont Business Magazine Big gains in jobs and significantly fewer unemployed led to a decrease in the state's unemployment rate for April of three-tenths to 2.4 percent. The Vermont Department of Labor released the data today, according to household data. The comparable United States rate in April was 3.4 percent, a decrease of one-tenth of one percentage point from the revised March estimate. Vermont is tied for 8th lowest in the nation and New Hampshire is tied for 3rd (2.1%), as efforts by the Federal Reserve Bank to slow the economy with interest rate hikes have reduced inflation (4.9% in April) but not put a dent in employment. The seasonally adjusted Vermont data for April show the Vermont civilian labor force increased by 194 from the prior month’s revised estimate (see Table 1). The number of employed persons increased by 1,100 and the number of unemployed persons decreased by 906. Weekly unemployment claims also improved. The Vermont civilian labor force participation rate was 63.7 percent in April, unchanged from last month.

Vermont Business Magazine On Monday, May 8th, Governor Phil Scott signed legislation into law making several updates to Vermont’s statutes. Bill H.76 proposed several updates to Vermont’s captive insurance law, such as improving the confidentiality of company information and increasing funding for the Vermont Captive Insurance Division’s operations. Multiple updates were made with industry input to clarify regulatory expectations and best practices. The legislation aligns the statute with the information collected when a new company applies for a license, updates the language for how the confidentiality of the information collected is handled, extending such treatment to subsequent updates, approved amendments or revisions to a company’s information, and its plan of operation.

Vermont Business Magazine The University of Vermont will hold its 222nd commencement ceremony on Sunday, May 21 for the class of 2023—the first class to complete four years of study at UVM paying the same for tuition as they did when they started, thanks to an ongoing commitment to keep UVM affordable and accessible for students and families from Vermont and across the nation. UVM President Suresh Garimella will confer degrees on an estimated 3,383 graduates, including 2,645 bachelors, 493 masters, 133 doctoral and 112 medical degree recipients. Among expected degree recipients are students from 44 states and 102 international students from 30 countries. Approximately 1,025 graduates are from Vermont. The graduating class includes an expected 440 students of color.

Vermont Business Magazine Senator Peter Welch (D-Vermont) and Susan Collins (R-ME) today introduced the Supporting All Producers (SAP) Act, legislation to require the United States Department Agriculture (USDA) to consult with maple producers when determining education and research priorities for the Acer Access and Development Program (Acer). Acer is a competitive grant program, supporting research and education related to maple syrup production and sustainability in the maple syrup industry. The bill was introduced in the House of Representatives by Representatives Becca Balint (D-Vermont) and Nick Langworthy (R-NY). 

by Jack Hoffman, Public Assets Institute Expansion of Vermont’s childcare subsidy program with an infusion of $120 million in new revenue will be a signal achievement of the 2023 legislative session if it survives a gubernatorial veto. There is more to be done, but this will be transformative for Vermont. Not just for families currently using paid childcare and any family thinking about having a kid or another kid, going back to work, or moving to Vermont, but for the well-being of all our kids. That means a better state for all of us. Unfortunately, in the rush to adjournment, public debate about how to fund childcare expansion got short shrift.

Vermont Business Magazine The national average price of gasoline this Memorial Day weekend is projected to be $1.10 less than it was in 2022, at $3.53 per gallon on average. Though, lower gas prices alone may not be enough for many Americans to hit the road this summer. According to GasBuddy’s 2023 Summer Travel Survey, released today, 64% of Americans are planning to take a summer road trip this year, up from 58% last year. However, 60% of that group has yet to confirm their plans by booking accommodations, activities or other travel plans. Meanwhile, Vermont gasoline prices have fallen below the national average, after rising during the winter.