by Christine McGowan Every industry needs a matriarch, and Vermont’s forest products industry has Colleen Goodridge. Goodridge Lumber, owned and operated by Colleen and her sons, began in 1973 when the family decided to build a log home. They bought an old saw for $500, borrowed a tractor from the farmer next door, and started pulling trees out of the woods. As they sold logs to pay for repair parts on the saw, and eventually their own tractor, they realized they had a business opportunity.
by Paul Cillo Public Assets Institute Last December, Washington passed a giant tax cut that mostly benefits corporations and those at the top—in Vermont they will see a $350 million federal tax reduction in 2018 alone. This new federal law will increase Vermont’s income inequality, which slows economic growth, increases poverty, and reduces upward mobility.
Cost pressures require 5.45% base rate increase offset by 6% credit to customers as a result of accelerated tax credit return
Vermont Business Magazine Green Mountain Power today filed a traditional rate case with the Public Utility Commission for rates set to take effect January 2019. The filing calls for a base rate increase of 5.45 percent and a bill credit that equals about 6 percent, more than offsetting the increase. The result for customers is a net decrease of 0.5 percent through September 2019, due to returning benefits from the federal tax change.
Vermont Business Magazine Secretary of Administration Susanne Young remains cautious despite tax revenues exceeding expectations for the month and the year-to-date. The Personal Income tax, the single most important revenue source, was nearly $18 million ahead of its target for the month (more than double). She revealed the numbers today but noted that positive news at this same time last year soured by the next month. She also said there is still uncertainty regarding how Corporate taxes will ultimately play out.
Vermont Business Magazine On Thursday LaunchVT announced the eight Vermont startups that will be participating in its 2018 cohort. This is the sixth cohort of startups to come through LaunchVT’s early stage acceleration program and pitch competition. Over the past five years LaunchVT has provided mentorship and over $400,000 in cash and in-kind services to accelerate 35 Vermont startups.
Vermont Business Magazine The Vermont Attorney General’s Office announced that it has reached a settlement with a Vermont solid waste removal business for violations of Vermont’s Waste Transportation Rules. Through the court-approved settlement, County Waste and Recycling Service, Inc., doing business as Ace Carting (Ace Carting), resolved claims that it had violated Vermont’s Waste Transportation Rules, including claims relating to transporting solid waste without a permit and the failure to file quarterly franchise tax returns with the Agency of Natural Resources (ANR).
Vermont Business Magazine Mayor Miro Weinberger today announced that Community & Economic Development Office (CEDO) Director Noelle MacKay will be accepting the role of Chief Operating Officer at the Regulatory Assistance Project (RAP), and will be concluding her successful tenure with the City on May 25. RAP is an independent, non-profit organization dedicated to accelerating the transition to a clean, reliable, and efficient energy future, and has offices in Montpelier, Europe, and China. As CEDO Director since 2016, MacKay played a critical role in a number of important community and development projects, including leading the City’s engagement with the CityPlace Burlington and new marina projects, overseeing CEDO’s lead program, and supporting the growth and development of the My Brother’s Keeper initiative and restorative practices in partnership with the Burlington School District.
Vermont Business Magazine Today, Congressman Peter Welch (D-VT) and Congressman Charlie Dent (R-PA) introduced bipartisan legislation to require judicial review of any decision to fire an independent special counsel, including Special Counsel Robert Mueller.
Vermont Business Magazine US Senator Bernie Sanders (I-Vermont) issued the following statement Friday after President Donald Trump signed an executive order demanding an evaluation of the Postal Service’s finances.
Vermont Business Magazine Green Mountain Power is preparing for possible outages this weekend as a storm moves into Vermont that forecasters say could bring wet snow, icing and possible gusty winds. Forecasters say some of the worst weather could be in parts of the state hardest hit by the wind storm last week. GMP tracks the weather through multiple forecasters, watching for possible impacts to customers.
Vermont Business Magazine Weekly unemployment claims last week rose by nearly 200, but remain below levels for the same time last year. For the week of April 7, 2018, there were 623 claims, 189 more than than they were the previous week, but 141 fewer than they were a year ago. Altogether 5,479 new and continuing claims were filed, an increase of 85 from a week ago, but 826 fewer than a year ago. For most weeks of 2017 and into 2018 claims have been below the year before.
by Timothy McQuiston Vermont Business Magazine The Scott Administration is bristling at a suggestion made earlier this week by Vermont's largest union that the state implement a single statewide health insurance contract for all public school employees. A year ago, Governor Phil Scott advocated for a statewide teacher health insurance plan to save money and equalize benefits. The teachers' union rebuffed such a plan and Democratic leadership opposed it. The standoff led to a budget veto and ultimately a compromise that did not include a statewide plan. Today Susanne Young, Secretary of Administration, issued the following statement on the Vermont NEA’s proposal to move to a statewide health benefit.