Current News

Vermont Business Magazine Transportation for Vermonters (T4VT) recently released their policy priorities for the 2023 Vermont legislative session. T4VT is a diverse coalition of organizations, service providers and institutions committed to working together, creatively, and across sectors to achieve a sustainable and accessible transportation system for our rural state. Bold investments and creative solutions that help all Vermonters get to where they need to go can: improve quality of life and public health; increase affordability and equitable access for communities that have been underserved; foster smart growth, walkable community centers that support local economies; reduce air and water pollution; and shift us toward a cleaner transportation system that reduces our contribution to the climate crisis.

Vermont Business Magazine One in 7 patients entering a hospital will need a blood transfusion. At the same time, only about 3% of Americans give blood. The American Red Cross needs more people to make and keep appointments to give blood or platelets in February and has three great reasons to do so: Help prevent a blood shortage: Winter brings seasonal illness and dangerous weather, which can hurt the blood supply. When donors give now, they can help ensure blood is on hospital shelves when it’s needed; It’s Heart Month: During a blood donation appointment, the Red Cross checks donors’ blood pressure and pulse, which are important indicators of heart health; Treat yourself: All who come to give in February will get a $10 Amazon.com Gift Card by email, thanks to Amazon. Those who come to donate this month will also automatically be entered to win a trip for two to Clearwater Beach, Florida.

Vermont Business Magazine Today, Amazon and Superplastic announced a multifaceted collaboration that spans investment and a first-look deal with Amazon Studios, which is currently in development on a series featuring Superplastic's synthetic celebrities. The Alexa Fund, Amazon's venture capital arm that focuses on new media, smart consumer electronics, ambient intelligence, and other areas of digital technology, leads Superplastic's $20 million Series A extension investment round. Other investors include Craft Ventures, Google Ventures, Galaxy Digital, Kering, Sony Japan, Scribble Ventures, Kakao, Animoca Brands, Day One Ventures, and Betaworks. This latest round brings Superplastic's total funding to $58 million to date, and supports the expansion of the Superplastic character universe.

Vermont Business Magazine Senator Bernie Sanders (I-Vermont) held a roundtable discussion at the Vermont State House on Saturday morning with the student finalists of his 13th annual State of the Union Essay contest. The contest gives Vermont high school students the opportunity to identify a major issue facing the country and propose what they would do to address it. This year, 382 students from 31 Vermont high schools submitted essays. A panel of seven Vermont educators served as volunteer judges, ranking the essays and selecting twelve finalists and three winners. Students wrote on critically important issues, including climate change, access to mental health care, political polarization, gun safety, disability rights, racial justice, and more.

Vermont Business Magazine Energize Vermont, a non-profit energy education and advocacy organization, today (2/15/2023) announced a grant award to the Greensboro, Vermont Energy Committee to support the town’s WindowDressers program. Over the last several years, Energize Vermont has granted thousands of dollars to WindowDressers communities. At WindowDressers workshops, community volunteers collaborate to assemble custom-fit plastic film inserts stretched over wooden frames for use in area homes. The Energize Vermont grant is intended to support participation in WindowDressers workshops by lower-income households.

Vermont Business Magazine Ledyard National Bank, with a branch in Vermont, has been selected to participate in the Federal Home Loan Bank of Boston's Equity Builder Program, which assists local home buyers with down-payment and closing costs as well as home buyer counseling and rehabilitation assistance. The program provides grants to financial institutions to assist households at or below 80 percent of the area median income. Borrowers are eligible to receive up to $29,000 in assistance on a first-come, first-serve basis. Buyers must also complete a home buyer counseling program.

Vermont Business Magazine On Friday, February 17, a group of Vermont National Guard members will depart for Thies, Senegal, to participate in a medical training exercise through the State Partnership Program. The training, part of the State Partnership Program, will run for about two weeks. The Vermont National Guard members, who are mainly assigned to the Garrison Support Command Medical Detachment out of Colchester, will be supported by Soldiers from Charlie Medical, 186th Brigade Support Battalion out of Winooski, and Airmen from the 158th Fighter Wing’s Medical Group, will work alongside Senegalese civilian and military medical professionals for peer-to-peer medical collaboration in a variety of medical specialties. In addition to helping patients, Vermont and Senegalese will share best practices.

Vermont Business Magazine From January 2020 through the end of most states’ 2022 budget year, tax revenue outperformed its pre-pandemic growth trajectory in a record 32 states. Still, annual revenue growth rates slowed substantially during fiscal year 2022 and are on track for negative growth by the end of the current budget year amid looming economic uncertainties. According to Pew Charitable Trust estimates, New Mexico led all states, with 17.1% more cumulative tax revenue than it would have collected under its pre-pandemic growth rate. Idaho was second at 16.7% above the trend. Nationally, combined tax revenue at the end of the second quarter of 2022 was 4% above estimates of what might have been collected had the pandemic not occurred. Vermont ranked 11th at 5.6 percent, second best in New England behind Maine's 9.0 percent.

Vermont Business Magazine Community Bank System, Inc has reported fourth quarter 2022 net income of $52.5 million, or $0.97 per fully-diluted share and net income was $3.46 per share for full year 2022, down $0.02, or 0.6%, from $3.48 per share for full year 2021. This compares to $43.6 million of net income, or $0.80 per fully-diluted share for the fourth quarter of 2021. The $0.17, or 21.3%, increase in earnings per share was primarily attributable to an increase in net interest income and a decrease in fully-diluted average shares outstanding, offset, in part, by higher operating expenses, lower noninterest revenues and increases in the provision for credit losses and income taxes. The company is the parent of Community Bank NA with branches across Vermont. They subsequently declared a quarterly cash dividend of $0.44 per share on its common stock. The dividend will be payable on April 10, 2023, to shareholders of record as of March 15, 2023.

Vermont Business Magazine The Lake Monsters would like to send best wishes for a speedy recovery to head coach Pete Wilk, who was recently diagnosed with Glioblastoma Brain Cancer and is currently undergoing treatment down in the Virginia/North Carolina area. A Go Fund Me page has been set up for Pete and his family as they "dig in" to fight this disease.