News

Governor Jim Douglas and Lt. Governor Brian Dubie today joined House Speaker Shap Smith and Senate President Pro Tem Peter Shumlin to announce a proposal to save $37.8 million in the fiscal year 2011 general fund budget and an estimated $72 million in fiscal year 2012. This proposal will relieve $36 million in property tax pressure in the next two fiscal years.

The University of Vermont Center for Rural Studies (CRS) is happy to announce that it will be engaging in multiple projects benefiting communities, entrepreneurs and local decision-makers in Vermont with funds secured by Sen. Patrick Leahy (D-Vt.).

The Ticonderoga Ferry finally had to close last Sunday not because of the weather or desire, but because the owners could no longer get insurance to keep the vital link going.

In its December 15, 2009 press release, The Vermont Economy Newsletter reported a slight increase in Vermont median family income. We have discovered an error in the formula used to calculate the median income. The corrected data show a decline of $1,900 in inflation-adjusted median income, from $68,314 in 2007 to $66,444 in 2008, a decline of 2.7%.
The corrected graph is shown below.

Kinney Pike Insurance, Inc. is proud to announce that effective December 31, 2009 Senior Officers Peter Werner, Justin Barwood and Doug Corman successfully purchased the agency from Kevin Tibbits, who has served as President and owner since September, 2000.

A Montpelier resident with experience in international finance has been hired to lead the state’s efforts in promoting trade between Vermont firms and other countries. Ali Sarafzade was named Director of the Vermont Global Trade Partnership (VGTP), the public-private partnership that serves as the state’s center for international business assistance, on Monday.

National and regional economists will explore the 2010 economic environment in the coming year with a special focus on what the economic recovery will look like in 2010 and beyond.

US Rep. Peter Welch on Monday unveiled legislation to help Vermont businesses, workers and taxpayers confront the growing fiscal crisis caused by the depletion of the state’s Unemployment Insurance (UI) trust fund.

Green Mountain Power today announced results of a customer survey indicating strong support for wind power among Vermont business leaders.
The telephone survey took place this fall among GMP's largest commercial customers. Fifty-four of 85 customers contacted completed the survey.

Executive Vice President Thomas S Leavitt is pleased to announce that the newest office of Merchants Bank will have its Grand Opening Celebration on January 15 from 10 am until 1 pm. The new facility, located at 92 Woodstock Avenue in Rutland, replaces and doubles the capacity of the previously operating branch at that same location.

The Vermont Public Service Board has authorized a 5.58 percent rate increase under the company’s alternative regulation plan. This still leaves CVPS’s rates among the lowest of the major utilities in New England. The change took effect with bills rendered starting in January. The PSB issued their decision late New Year’s Eve day.

In the wake of our country's economic downturn, people are moving away from states with high unemployment, according to the 2009 Atlas Van Lines Migration Patterns study. Atlas' annual study has tracked the nation's moves since 1993. The Vermont unemployment rate was 6.4 percent in November and the New Hampshire rate was 6.7 percent, both well below the 10.0 percent national rate.