Current News

by Timothy McQuiston, Vermont Business Magazine Today, the Vermont Department of Labor reported that the seasonally adjusted statewide unemployment rate for January was 2.9 percent, according to household data. This reflects a decrease of one-tenth of one percentage point from the prior month’s revised estimate. The comparable US rate in January was 3.4 percent, a decrease of one-tenth of one percentage point from the revised December estimate. The annual adjustments effectively raised the state's unemployment rate, which is now tied for 12th lowest in the nation. For instance, the state's December rate was originally reported as 2.6% (sixth lowest in US) and now adjusted to 3.0% (which would have been tied for 14th).

Vermont Business Magazine The Department of Disabilities, Aging and Independent Living (DAIL) announced today that Champlain Community Services (CCS) has begun initiating operational control of Green Mountain Support Services (GMSS), a Specialized Services Agency (SSA) based out of Morrisville, Vermont, providing Developmental Services, Adult Family Care, and Brain Injury Services to 122 Vermonters. This action by CCS comes after DAIL issued a notice of SSA de-designation to GMSS on February 27, 2023. All SSAs are required to meet certain criteria and undergo periodic review by DAIL to ensure that the SSA designation criteria are met. DAIL’s most recent re-designation review of GMSS identified multiple deficiencies requiring corrective action.

Vermont Business Magazine The LoveYourBrain Foundation’s co-Founder and Executive Director, Adam Pearce, has been named a 2023 CNN Hero, a year-round initiative that honors everyday people for their selfless, creative efforts to make the world a better place. In 2010, Pearce stepped away from his career to provide full-time care to his brother, professional snowboarder Kevin Pearce, who suffered a near fatal traumatic brain injury (TBI) while training for the 2010 Winter Olympics. Adam Pearce, like so many millions of caregivers across the country, played an integral and ongoing role in supporting his brother’s healing journey, which was documented in the 2010 film by Lucy Walker, ‘The Crash Reel’.

Vermont Business Magazine Senator Bernie Sanders (I-Vermont) on Sunday issued the following statement on Silicon Valley Bank. California's banking regulator on Friday took possession of Silicon Valley Bank due to inadequate liquidity and insolvency, appointing the FDIC as receiver of the startup-focused lender. SVB is the second-largest bank to fail in US history ($212 billion in assets) next to Washington Mutual ($300 billion) in 2008. SVB was the 16th largest bank in the US prior to its demise.

Vermont Agency of Agriculture Food & Markets The Northeast Dairy Business Innovation Center (NE-DBIC) is working to build resilience and capacity in the region's dairy supply chain. One critical aspect of this work is investing in regional processing. To that end, NE-DBIC has two dairy processing grants that are open now: $12 million in funding is available to help processing facilities located in the Northeast expand utilization of regionally sourced milk, with a focus on acquiring specialized equipment needed to increase processing capacity through volume expansion and existing product line expansion. Open to dairy processors in the Northeast, there are three tiers of funding available to accommodate processors of all scales.

Vermont Business Magazine New England’s annual capacity auction closed with sufficient power system resources to meet peak demand in 2026/2027, and preliminary results indicate the clearing price was among the lowest in the auction’s history. Nearly all of the new resources securing capacity supply obligations were wind, solar, energy storage, or demand-reducing resources. ISO New England Inc. runs the auction each year to procure the resources needed to meet consumer demand for electricity three years later. Held this year on March 6, the 17th Forward Capacity Auction (FCA 17) closed after four rounds of competitive bidding.

Almost 750 MW of new renewable energy, energy storage, and demand-reducing resources secured obligations in FCA 17.

by Joy Choquette, Vermont Business Magazine Sprawling down the eastern side of Vermont, Windsor County boasts a variety of industries in its 977 square miles. As the pandemic winds down, area business leaders and association executives weigh in. Bob Flint, executive director of Springfield Regional Development Corporation, said that demographics and workforce participation are “ongoing challenges” that the county faces. “There needs to be continued work on barriers to sustainable employment,” said Flint, “as well as investments in education and training.” He noted that this comes in the form of career and technical education, both for secondary students and adults. Alongside the Green Mountain Economic Development Corporation, the SRDC is collaborating with the Working Communities Challenge projects.

by Kelly Nottermann "If you look online, you can find Chinese food, Italian food and so many ethnic cuisines, but not African,” said Damaris Hall, co-founder of Global Village Foods. “So, we thought, ‘Why not?’ We will be the pioneers of African cuisine, and we’ll do it from Vermont.” A trained chef in Kenya, Hall emigrated to the United States in 1991 with her now-husband and business partner, Mel. The couple settled in Quechee, with dreams of starting their own business. “We always talked about what kind of business we would open,” said Mel. “Even before we left Kenya, we knew that’s what we wanted to do.”

Vermont Business Magazine Rootstock Publishing has announced that three books–and two by Vermont authors–from their 2022 publication year have been named finalists in the 25th annual Foreword INDIES Book of the Year Awards. All Men Glad and Wise, a mystery by Laura C. Stevenson of Wilmington, Vermont, placed in the Mystery (Adult Fiction) category. Alzheimer’s Canyon: One Couple's Reflections on Living with Dementia, by Jane Dwinell of Burlington, Vermont, placed in the Health (Adult Nonfiction) category. Pauli Murray’s Revolutionary Life, a young adult biography by author Simki Kuznick of Bethesda, Maryland, placed in the Juvenile Nonfiction category.

Vermont Business Magazine How do you improve the ultimate comfort food? Add the remarkable flavor of Guinness! That’s right, when the world’s most popular stout meets Cabot Creamery Co-operative’s World’s Best Cheddar, you get a rich velvety Macaroni & Cheese that is simply irresistible. Guinness Boxed Macaroni & Cheese contains no alcohol and is a bold and magnificently malty flavored take on one of the world’s most popular comfort foods, Mac & Cheese. And it doesn’t disappoint. The Guinness stout-flavored blend is made with award-winning extra sharp Cabot Farmers’ Reserve ready-made cheese sauce combined with organic radiatore pasta. Each box contains approximately three 3.7-ounce servings and takes about 15 minutes to prepare.

Vermont Businesses for Social Responsibility In late 2022, VBSR, Vermont, and our global changemaker movement lost two very bright stars. As we were penning a remembrance of beloved founding Board member Bruce Seifer, VBSR received the news that Will Raap had passed, sending a wake of shock, reflection, and gratitude through our community and the many others that these two outstanding leaders touched. Both Bruce and Will had a tremendous impact on VBSR and our work to leverage business as a force for good. They shaped individuals, businesses, communities, and our broader movement, and losing them has left a gaping hole in both our hearts and our collective work.

Vermont Business Magazine Switchback Brewing Co, home to Vermont’s iconic Switchback Ale — has released their Roasted Red Ale and Karsten Premium Lager in 16oz cans for the first time. “With the recent addition of a new Quadrel Techline high speed labeler, the brewery now can create out-of-the-box labels that truly fit the personality of each beer,” says Brewery Founder and Brewmaster, Bill Cherry. “The new equipment eliminates color and print limitations of mass-produced pre-printed cans which we used to have to order by the truckload.” Switchback’s graphic designer, Interrobang Design Collective, whom they have worked with since the Brewery’s founding, utilized many of the creative features that Amherst Label offers to make dynamic cans that come alive as you rotate them.