Current News

Vermont Business Magazine This morning Senate President Pro Tempore Philip Baruth and Speaker of the House Jill Krowinski issued the following statement: “We are deeply concerned about the Administration’s stated intention to move Medicare-eligible state retirees from the State of Vermont’s insurance plan into Medicare Advantage plans without the support of state retirees. We are particularly concerned about the potential legal, financial and health implications and believe this shift undermines collective bargaining rights."

by Timothy McQuiston, Vermont Business Magazine Secretary of Administration Kristin Clouser released Vermont’s revenue results for December 2022, which again showed strength in the vital personal income tax. For the third month in a row, all three major funds - the General Fund, the Transportation Fund and the Education Fund - ended with revenue above target. Year to date, the General Fund and the Education Fund remain ahead of target while the Transportation Fund is slightly behind. Tax revenue collections for the state’s General Fund, Transportation Fund, and Education Fund receipts in December were a combined $266.2 million, or 5.3%, above monthly consensus expectations. For the first six months of the state’s fiscal year, combined revenues across all three funds were 6.3% above combined consensus target.

Vermont Business Magazine Vershire residents will soon be able to enjoy an outdoor pavilion thoughtfully incorporated into the already established public facilities and grounds of Vershire’s Town Center thanks to a crowdfunding campaign recently launched on January 19th. The campaign is sponsored by the Vermont Department of Housing and Community Development’s Better Places program and led by the Town of Vershire and the Vershire Town Center Committee, with collaborative partnerships with VerShare, Vershire Recreation Committee, and TimberHomes Vermont. If the campaign reaches its $20,000 goal by March 20th the “Vershire Town Center Pavilion” will receive a matching grant of $40,000 from DHCD’s Better Places program.

Vermont Business Magazine The new Army Mountain Warfare School complex in Jericho is welcoming their first class. Students first reported to the school on Saturday, January 14, 2023. 2023 represents the 40th anniversary of the school. The Vermont Army National Guard and instructors at the Army Mountain Warfare School are proud to welcome the first class in their new $30 million facility in Jericho. The facility took about two years to build.

Vermont Business Magazine Union Bankshares, Inc (NASDAQ - UNB) has announced results for the three months and year ended December 31, 2022. Net income was $3.4 million and $12.6 million for the three months and year ended December 31, 2022 resulting in earnings per share of $0.77 and $2.81 for the same periods, respectively. The Board of Directors also declared a cash dividend of $0.36 per share for the quarter, an increase of 2.9% from the cash dividend of $0.35 paid in recent prior quarters, payable February 2, 2023 to shareholders of record as of January 28, 2023.

Vermont State Police On January 18, 2023, at approximately 10:52 PM the Johnson Fire Department was dispatched to a structure fire at an unoccupied single-family residence. An off-duty firefighter reported the fire to 911 after seeing flames inside the building. When fire crews arrived, they discovered the structure completed involved in fire. Firefighters conducted an external defense attack on the fire. Investigators are pursuing the possibility that the fire was the result of direct human involvement. The intent of that involvement is unknown and under investigation. There were no reported injuries associated with this fire event. The structure is a complete loss and valued at approximately $100,000.

Vermont Business Magazine The EPA will conduct a comprehensive review of completed cleanup work at a Superfund site in Springfield, Vermont this year. The site will undergo a legally required Five-Year Review to ensure that previous remediation efforts at the site continue to protect public health and the environment. The 10-acre Old Springfield Landfill, previously referred to as the Will Dean Dump, was operated by the Town of Springfield between 1947 and 1968. Hazardous industrial waste from local industries was co-disposed with municipal trash into discrete trenches and mixed with municipal solid waste. Most hazardous material was reportedly disposed in bulk liquid and semi-liquid form. Following the closure of the landfill, it was sold and developed for use as a mobile home park, known as Springfield Mobile Home Estates.

Vermont Business Magazine A new study has revealed the states where house prices rose the most over the past year. It should come as no surprise to anyone in Vermont that they have risen at a rapid pace since the beginning of the pandemic. A new study based on 2022 home values shows that Vermont had the third highest increase in the nation. The research by Santa Monica realtors analyzed data from Zillow for the past year, across all 50 states to determine which state had seen the biggest rise in housing prices. The average house price in Vermont is now $386,285 after increasing 16.9% over the past 12 months. Of the five fastest growing states, Vermont had the second highest home value, just behind Florida, which was also the fastest growing.

Vermont Business Magazine Norwich Solar has received a Certificate of Public Good (CPG) through the Vermont Public Utility Commission for a 500 kW AC solar array in Jamaica, VT. The ground-mounted solar panels will generate enough renewable clean energy to power approximately 130 homes per year, and offset the carbon emission equivalent of almost 150 cars per year. The solar array site is a depleted gravel/sand extraction area. The Jamaica Selectboard, Planning Commission, and the Windham Regional Planning Commission all designated the location as a preferred site. The array will occupy roughly 3-4 acres of a larger parcel which also hosts several homes.

Vermont Business Magazine Celebrating its 40^th anniversary, outdoor headwear and accessories brand, Turtle Fur, is excited to announce that as of December 21^st, 2022, they have officially become a Certified B Corporation™ (B Corp™), joining a community of leaders committed to doing business for good. To achieve B Corp certification, Turtle Fur underwent a lengthy review of their business practices and operations, measuring the effect those have on their people, their community, and the environment. The results are scored, and companies must meet a minimum score to achieve certification. Becoming B Corp certified means that a company is committed to using business as a force for positive change.

Vermont Business Magazine The Vermont Department of Fish & Wildlife (Department), Hermit Woods Trailbuilders and the Northern Forest Canoe Trail (NFCT) teamed up this past fall to implement a series of stewardship projects that will provide enhanced access to Otter Creek. The Department is leading an effort to create a paddling trail along most of the length of Otter Creek, a 112-mile river that runs through Rutland and Addison counties before flowing into Lake Champlain. The recent stewardship work represents the early stages of this project, which emphasizes improving access for paddlers and anglers.

Vermont Business Magazine The Vermont Agency of Agriculture, Food & Markets (VAAFM) announces $200,000 in grant funds to strengthen Vermont’s specialty crop industries and producer associations. Specialty crops are defined as fruits, vegetables, tree nuts, horticulture crops (including honey, hops, maple syrup and mushrooms), and nursery crops (including Christmas trees and floriculture). Interested applicants should apply by February 28, 2023 at 11:59 PM.