Current News

by Parwidner Grewal, PhD, President, Vermont State University We have completed the fall semester at all three institutions that will become Vermont State University in July of 2023. During the fall semester of 2022, we have already completed some key elements on our strategic vision, such as program array optimization, new general education connections program, and lowering tuition by 15% for in-state students and 33% for out-of-state students entering in the Fall of 2023. This is possible because of the Governor’s vision for an education system that bridges students from high school to career readiness, the investments in our public higher education institutions and students championed by the legislature, and the strategic direction the Vermont State Colleges System Board of Trustees is giving to our work.

by Timothy McQuiston, Vermont Business Magazine Economists for the Legislature and Administration met with Governor Scott and key lawmakers today to present a positive and nervous report on the state of Vermont’s tax revenues. Economists Jeff Carr (Administration) and Tom Kavet (Legislature) said in their consensus revenue reports that tax proceeds are doing well and that they have upgraded their projections for the current fiscal year (2023) and for next year. The General Fund, driven by personal and corporate taxes, should be especially strong. None of this is much of a surprise. Nor is it a surprise that the economists and everyone else is nervous that a recession could be just a little ways down the road, as the Federal Reserve Bank keeps raising rates.

by Timothy McQuiston, Vermont Business Magazine The Rand Corporation today released its legislatively mandated study on how much it would cost to fully fund quality early education for all children in Vermont and how it might be paid for. The total cost, Rand estimates, would be about $645 million per year. The gap between current public funding and what families contribute to that total is between $179 million and $279 million, depending on the subsidy levels going forward. Options to filling that gap include a new 0.9 percent payroll tax or a 2 percent increase in the sales tax; each of these options would generate about $194 million. A higher rate or other taxes would need to be raised at the higher gap level. The increase in the workforce with this early education plan is estimated to be between 600 and 2,800 workers, which at the high end is under 1 percent of the current labor force of 336,761. The Rand model assumes a mixed-delivery system, with both public and private providers.

Vermont Business Magazine The Department of Housing and Community Development (DHCD) announced $264,000 in Bylaw Modernization Grants to support statewide municipal bylaw modernization projects. The funding was passed in Act 182 and championed by the Senate Committee on Economic Development, Housing and General Affairs and the House Committee on Environment and Energy. It is intended to help municipalities confront the State's housing shortage by enabling new housing investments in smart locations.

Vermont Business Magazine Vermont Democratic Party Chair Anne Lezak is stepping down, effective late February 2023. An election date to vote for the new chair will be announced shortly. As Chair of the VDP, Anne oversaw hiring of VDP’s current team, including Executive Director Jim Dandeneau. She played a large part in the 2022 election, where Democrats saw unprecedented and historic wins across the state.

Vermont Business Magazine Join the SBA Vermont District Office for a virtual workshop at noon Jan. 18 about COVID Economic Injury Disaster Loan repayment. Topics include: Creating a Capital Access Financial System account; Making payments and tracking EIDL account; Q&A. Registration is not required, but participants are encouraged to log on five minutes before.

The Vermont Department of Public Safety and the State Police Advisory Commission today are releasing the fifth semiannual detailed summary of internal investigations involving members of the Vermont State Police. The release of these detailed synopses began in January 2021 and is designed to provide greater transparency, public awareness, and oversight to the activities of the Vermont State Police, while balancing rules regarding internal investigations and the need to have internal investigations completed before public dissemination.

Vermont Business Magazine Garnet Transport Medicine, LLC d/b/a Garnet Health, announced today that it will shut down its EMS and clinical operations effective January 31st, 2023. They will lay off all staff as part of this action. Garnet said the combined effects of costs versus reimbursement rates, the pandemic, and the end of government-related COVID-19 contracts prevent the company from moving forward. Garnet was founded in 2019 and is a multidisciplinary healthcare organization specializing in interfacility ambulance transport, telemedicine, and mobile healthcare delivery.

Vermont Business Magazine Vermont’s Killington Resort, the largest ski and snowboard resort in Eastern North America, announced today that the Stifel Killington Cup will return to Killington Resort in Vermont for the seventh time in 2023. The race features the fastest female alpine ski racers in the world vying for the prestigious Killington Cup. Part of the International Ski and Snowboard Federation’s Audi FIS Ski World Cup Circuit, the Killington Cup is the world’s most attended women’s Audi FIS Ski World. This year’s return will again feature the “Heroic” initiative for the second year in a row, a program designed to empower and create opportunities for women in the ski industry.

Vermont Business Magazine More than nine out of 10 Vermont residents believe that personal finance education is an important subject that should be taught in high school. This overwhelming finding emerged from a statewide poll of 541 voters conducted this month by Public Policy Polling for the Center for Financial Literacy at Champlain College. John Pelletier, director of the center, notes that the poll shows 93 percent of Vermont residents agree that a personal finance course should be offered in high school. Pelletier also notes that 88 percent of Vermont adults believe that guaranteed access to a personal finance course for all Vermont high school students is urgently needed. Yet, despite these views, currently, few Vermont high school students have guaranteed access in high school to a full-semester course in personal finance prior to graduation.