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PAI: A flexible, effective revenue adjustment tool

Thu, 05/12/2022 - 4:31pm -- tim

by Jack Hoffman, Public Assets Institute Twenty years ago, Vermont lost a valuable tool that let the state easily adjust state revenues to respond to fluctuating demands for public services. It’s time to find a replacement. In 2002, the state ended the simple, straightforward system for assessing personal income taxes that had been in place for more than 30 years. Vermont stopped using the “piggyback,” whereby the amount of income tax a person owed to Montpelier was calculated from the amount owed to Uncle Sam. Typically, the rate was about 25 percent of a person’s federal tax liability. But it varied, which was the beauty of that system. The strength of the piggyback system—being tied to federal tax policy—was also its weakness.

Heat Wave: BEWARE of the dangers of recreating in cold water

Thu, 05/12/2022 - 2:38pm -- tim

Vermont Business Magazine Summer-like warmth, with temperatures in the 80s, is expected to continue across the North Country through the weekend. This early season heat tends to lead to two potential dangers – heat related illness and recreating in dangerous cold water. Many of us eagerly await the first signs of summertime warmth after a long winter. As the temperature climbs, so do the number of people going outside to enjoy the weather. Because heat is more likely to cause illness when we’re not used to it, it’s important to play it safe during these first warm days.

Gas prices in US reach new record high: $4.42 per gallon

Thu, 05/12/2022 - 2:14pm -- tim
Vermont up to $4.46, gas prices surge as EU sets stage to curb Russian oil

Vermont Business Magazine It’s going to be a long year for motorists, as gas prices set a fresh record at the pump today, rising above the previous all-time high of $4.35 per gallon set on March 10, according to GasBuddy, the leading fuel savings platform providing North American drivers the most ways to save money on gas. The national average price of gas is now $4.42 per gallon, and could continue to climb through Memorial Day as summer road trip season begins and oil prices remain volatile. Vermont is even higher at $4.46/g.

VAAFM Farm Agronomic Practice (FAP) Program open for applications

Thu, 05/12/2022 - 1:31pm -- tim
Program assists farmers achieve improved soil health and water quality objectives

Vermont Business Magazine The Vermont Agency of Agriculture, Food and Markets (VAAFM) has announced that applications for the Farm Agronomic Practice (FAP) Program are now open. The FAP Program utilizes state funding to help Vermont farms implement field agronomic practices that improve soil quality, increase crop production, and reduce erosion and agricultural runoff. This year, payment rates for certain practices including rotational grazing and no-till pasture and hay land renovation have increased up to 20%.

Business groups applaud lawmakers for passing COVID paid leave grant program

Thu, 05/12/2022 - 12:13pm -- tim

Vermont Business Magazine The small business community and members of Main Street Alliance and Vermont Businesses for Social Responsibility applaud the Vermont General Assembly on the passage of S.11, a workforce and economic development bill that would establish a program to provide wage replacement for workers experiencing loss of work for reasons associated with COVID-19. Throughout the COVID-19 pandemic, Vermonters everywhere have been asked to stay home and isolate or care for others in the event of an exposure – and by and large Vermonters have risen to the occasion, not only to keep themselves safe, but to keep those around them safe as well. 

Sanders opening statement at hearing on Medicare for All

Thu, 05/12/2022 - 11:56am -- tim

Vermont Business Magazine Senator Bernie Sanders (I-Vermont), Chairman of the Senate Budget Committee, Thursday delivered an opening statement at the committee's hearing titled “Medicare for All: Protecting Health, Saving Lives, Saving Money.” Sanders: "Let me thank the committee members and panelists and everyone else who is here for attending the very first US Senate hearing on Medicare for All."

Engelberth Construction celebrating 50th anniversary

Thu, 05/12/2022 - 11:33am -- tim

Vermont Business Magazine Engelberth Construction, Inc (ECI), a leading Construction Manager/General Contractor, is celebrating its 50 years in business milestone. In 1972 Engelberth Construction was established in the basement of Otto Engelberth’s home in Colchester, Vermont and grew steadily on the cornerstones of hard work, trust, integrity, and pride in craftsmanship. Over the past 50 years, Engelberth has become a leader providing preconstruction and construction services in the academic, healthcare, assisted living, manufacturing, resort, multi-unit housing and historic preservation markets. 

Extra 3SquaresVT food benefits in May & June

Thu, 05/12/2022 - 10:02am -- tim

Vermont Business Magazine The Department for Children and Families announced today that many 3SquaresVT households will continue to receive a higher benefit in May and June. This extra help is part of the federal Coronavirus Relief Bill. It will not permanently change a household’s monthly benefit. It is a temporary increase from the federal government to help those affected by the pandemic.

Households at a zero benefit will not receive a benefit. Everyone else will receive the maximum benefit for their household size.

Maximum Allotments:

KeyBank made $127 million in community investments since 2017

Thu, 05/12/2022 - 9:59am -- tim

Vermont Business Magazine As announced in KeyCorp’s 2021 Environmental, Social and Governance (ESG) Report released in April, the bank has surpassed the five-year goals of its National Community Benefits Plan, providing more than $26 billion focused on economic access and equity to communities across the country. With branches across Vermont, it invested more than $127 million in the past five years in the state.

Chef, restaurateur, television personality and author 
Emeril Lagasse reveals the secret recipe to success on 21st Century Business Forum

Thu, 05/12/2022 - 9:11am -- katie

VermontBiz You might say the "Bam!" moment in the life of trailblazing celebrity chef Emeril Lagasse came many, many years ago courtesy of a pastry chef he admired.

The pastry chef introduced Lagasse to the book "The Magic of Thinking Big" by David Schwartz.

Ben & Jerry's plans to cut dairy GHG emissions to half industry average by 2024

Thu, 05/12/2022 - 5:01am -- tim

Vermont Business Magazine Ben & Jerry's is making a bold commitment to bring greenhouse gas emissions on 15 dairy farms to half the industry average by the end of 2024. Once proven, pilot project initiatives will be expanded to farms across Ben & Jerry's global dairy supply chain. Dairy ingredients account for more than 50% of Ben & Jerry's total greenhouse gas emissions, so the company is focusing on dairy farms as the best opportunity to reduce its carbon footprint.

Vermont is the ninth most accessible state in America to charge an electric car

Thu, 05/12/2022 - 3:05am -- tim

Vermont Business Magazine Vermont ranks ninth with a ratio of 7.21 electric cars to a single station. There are 2,230 electric cars registered in the state of Vermont along with 313 electric charging stations. Financial comparison site Forbes Advisor analyzed data from the US Department of Energy as well as all 50 states to establish how many electric charging stations there are in each state, per registered electric vehicles in said state. However, some states rank high in part because of sporting few actual EVs. For instance, North Dakota ranks first, but has only 220 registered EVs and Wyoming is second with only 330. Meanwhile, Arizona is second worst despite having 28,770 EVs.