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Evernorth, Springfield Housing Authority open 20 apartments at historic Woolson Block

Mon, 04/19/2021 - 5:30pm -- tim

Vermont Business Magazine The Springfield Housing Authority (SHA) and Evernorth announced today that the Woolson Block in downtown Springfield is fully occupied. The renovations returned the historic property to its prominent origins and will contribute to the economic vitality of downtown Springfield. The Woolson Block is a three-story Italianate-style brick building, built in 1868 by the president of a Springfield machine tool company and woolen mill.

VDH COVID-19 update: Every adult can now get vaccinated in Vermont

Mon, 04/19/2021 - 5:12pm -- tim

Vermont Business Magazine Every Vermont adult 16 years and up can now register to get vaccinated against COVID-19. Already 52 percent of the state's adult population has received at least one dose of the vaccine. The VDH also is reporting today that there have been no COVID-related deaths since last week, which are holding at 242. There were 93 cases of the novel coronavirus reported today.

Restaurant Revitalization Fund application, guidelines, webinar

Mon, 04/19/2021 - 4:47pm -- tim

Vermont Business Magazine The SBA announced key details Saturday about application requirements, eligibility and a program guide for the Restaurant Revitalization Fund. The restaurant industry has been among the hardest-hit sectors during the economic downturn caused by the COVID-19 pandemic. The American Rescue Plan established the $28.6 billion Restaurant Revitalization Fund. The SBA will administer the funds to the hardest-hit small restaurants. RRF will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding if funds are used for eligible uses no later than March 11, 2023.

Ledyard Financial reports record earnings

Mon, 04/19/2021 - 3:41pm -- tim

Vermont Business Magazine Ledyard Financial Group, Inc (ticker symbol LFGP), the holding company for Ledyard National Bank with a branch in Norwich, Vermont, today announced record earnings for the first quarter of 2021. Net income for the quarter ended March 31, 2021, was $1,835,872 or $0.58 per share compared to $1,620,939 or $0.51 per share for the same period in 2020, an increase of $214,933 or 13%. 

March tax revenues crush expectations

Mon, 04/19/2021 - 1:52pm -- tim

by Timothy McQuiston, Vermont Business Magazine Tax revenue collections for the month of March 2021 once again have exceeded projections for all major funds. The State’s General Fund, Transportation Fund, and Education Fund receipts were a combined $60.81 million, or 39 percent above monthly consensus expectations. State officials attribute the robust results to both some tax filing changes, which have pushed out refunds, and, mostly, to economic gains led by federal stimulus and consumer confidence. While led by the personal income tax and its whopping 129.2 percent increase ($31.8 million), all categories, but for a few minor ones, were above projections for the month.

Vermont gets more than $150 million in COVID vaccination and mitigation funds

Mon, 04/19/2021 - 12:52pm -- tim

Vermont Business Magazine Senator Patrick Leahy (D-Vermont), Senator Bernie Sanders (I-Vermont) and Representative Peter Welch (D-Vermont) announced Monday that Vermont recently received more than $150 million through the Federal Emergency Management Agency’s (FEMA) Public Assistance Program. The funding will reimburse the State of Vermont for the cost of COVID-19 vaccine distribution and for hotel and motel rooms for vulnerable unhoused Vermonters and others who needed a place to temporarily quarantine.

PC Construction earns national AGC Build America Award for Atlanta water project

Mon, 04/19/2021 - 12:48pm -- tim

Vermont Business Magazine The joint venture partnership of PC Construction, based in South Burlington, and HJ Russell & Company of Atlanta, announced today that their work on the Atlanta Water Supply Program project received a national Build America Award from the Associated General Contractors of America. The joint venture earned recognition in the New Utility Infrastructure category for the extensive project, which was completed in October 2020. This is the fifth Build America award that PC Construction has earned over the past 15 years.

Scott and Gray: It's time to eliminate the tax on Military Retirement Pay

Mon, 04/19/2021 - 10:54am -- tim

by Governor Phil Scott and Lieutenant Governor Molly Gray It’s well known that Vermont faces a demographic crisis. We have an aging population, with a shrinking workforce and reduced school enrollment. As a result, Vermonters continue to shoulder an increasing tax burden. Both of us discussed this trend during the last election and we know that for Vermont to recover from this pandemic, as we emerge as one of the safest and healthiest states in the nation, we must take steps to expand our tax base and bring new and diverse skills to our workforce. This includes investments in workforce recruitment and retention initiatives for Vermonters, establishing Vermont as a welcoming state for refugees, promoting Vermont as a home for remote workers and eliminating the tax on military retirement pay.

Ledyard offers assistance to home buyers through FHLB Boston programs

Mon, 04/19/2021 - 10:45am -- tim

Vermont Business Magazine Ledyard National Bank has been selected to participate in two programs offered by the Federal Home Loan Bank of Boston. The first, known as the Equity Builder Program, assists local home buyers with down-payment and closing costs.  Equity Builder provides grants to financial institutions to assist households who are purchasing their first home and who are at or below 80 percent of the area median income. Borrowers are eligible to receive up to $15,000 in assistance on a first come first serve basis. Ledyard National Bank is eligible to receive up to $150,000 in 2021 through the program depending on availability of funds.

Join Vermont Ag at the Big E this fall

Mon, 04/19/2021 - 5:54am -- tim

The Vermont Agency of Agriculture, Food & Markets is seeking food, beverage or retail business interested in a new fall marketing event! Join us, along with almost 30 other Vermont businesses, in the Vermont Building at the Big E! In 2019, 1.6 million people attended the Big E, making this a great event to showcase your Vermont products to the southern New England audience. 

Restaurant Revitalization Fund grant coming soon

Sun, 04/18/2021 - 7:47pm -- tim

Vermont Business Magazine A new grant program, the Restaurant Revitalization Fund, or RRF, is  launching soon from SBA for restaurants, brew pubs, food trucks, coffee shops, bars and many more. The new website shares substantial information on how the program will roll out, the application questions and the documents to prepare. The SBA is strongly encouraging all potential applicants to look through this website and get their documents ready as it will be a very popular program. This is not a loan, it is a grant.