News

The Vermont Economic Development Authority (VEDA) is inviting eligible and qualified borrowers to apply for an allocation of Vermont’s $135 million in Recovery Zone Facility Bond (RZFB) tax-exempt bond issuance capacity.  The next round of applications is due at VEDA’s offices on April 15, 2010.

A study by the Brookings Institution has found that Vermont received federal funds distributed based on census data at a rate of double the national average, according to data from fiscal 2008. The study found that Vermont received close to $1.79 billion in funds, or $2,873.67 per capita. Nationally, the average is $1,469 per capita. Vermont was second only to Washington, DC in terms of per-capita money awarded. The largest portion of the state’s census-related funding, 67.5 percent, was put towards health care, followed by 10.6 percent allotted to transportation.

Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) today announced that Pebbles Acquisition Sub, Inc, a wholly owned subsidiary of GMCR, has extended its previously announced $35 per share cash tender offer to purchase all outstanding shares of common stock of Diedrich Coffee, Inc. (NASDAQ: DDRX).

The 2010 Census is here! To conduct this massive undertaking, the U.S. Census Bureau must hire for a variety of positions, and at a time of economic uncertainty, there are still plenty of jobs available. Currently, the Burlington Local Census Office serves residents in the 14 counties of: Addison, Bennington, Caledonia, Chittenden, Essex, Franklin, Grande Isle, Lamoille, Orange, Orleans, Rutland, Washington, Windham and Windsor. Burlington has 2010 Census positions, starting at $13.50/hour, available for immediate applications.

Weekly unemployment claims declined dramatically last week after increasing the previous two weeks. For the week of March 6, 2010, there were 897 new regular benefit claims for Unemployment Insurance, a decrease of 498 from the week before. Altogether 15,463 new and continuing claims were filed, a decrease of 54 from a week ago and 2,814 fewer than a year earlier. The Department also processed 4,647 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), 96 fewer than a week ago.

A new federal regulation from the U.S. Department of Education required states to identify “persistently low-achieving schools” in order to receive federal funding as part of the Statewide Fiscal Stabilization Fund allocations under the American Recovery and Reinvestment Act (ARRA).

The Vermont Department of Labor announced today that the seasonally adjusted unemployment rate for January 2010 was 6.7 percent, unchanged from the revised December rate and up 0.5 point from a year ago.

Governor Jim Douglas today strongly criticized the Environmental Protection Agency’s (EPA) decision to reconsider its approval of the Lake Champlain clean up plan – known as the Lake Champlain Total Maximum daily Load (TMDL).  In papers filed in federal court yesterday, the EPA stated its intent to reconsider the approval given by EPA Region I in 2002.

Island Pond residents voted on Town Meeting Day to sell the John Boylan state airport in order to allow the opening of a log yard and wood-pellet manufacturing plant. The nonbinding vote passed 326-74.

Robert F. Cioffi, a native Vermonter from St. Albans, has been elected chair of the University of Vermont Board of Trustees.Cioffi is currently a venture partner at Alerion Partners, a private equity fund located in Rowayton, Connecticut. He lives in New Canaan, CT with his wife Meghan (UVM Class of 1991) and their three children.

On Monday Senator Leahy met with leadership of Fletcher Allen Health Care, the University of Vermont and the Vermont National Guard to view a demonstration of new equipment at the hospital’s Simulator Training Program.  At the event Leahy announced more than $1.7 million in funding he has secured in the federal budget for the project, which provides training to hospital nurses and doctors, university medical students and guard personnel on state of the art simulation equipment.  The equipment offers realistic training experiences for medical conditions that range from birth to g

There are currently 32 American Recovery & Reinvestment Act (ARRA)-financed highway construction projects underway or completed in Vermont involving $85 million in funds, according to data released today by the Washington, D.C.-based American Road & Transportation Builders Association (ARTBA). The projects underway or completed have supported or are supporting 2,366 jobs in Vermont that would otherwise not exist, says ARTBA Vice President of Economics & Research Dr. Bill Buechner.

House Health Care Committee Chairman Steve Maier, D-Middlebury, has proposed legislation to prevent hospitals from putting money towards advertising. While supporters say the move would help cut the rising cost of health care, some opponents of the proposal are questioning whether such a ban would go against the constitutional right to freedom of speech.

The Vermont Economic Development Authority (VEDA) has approved $36.4 million in economic development financing assistance for a variety of large and small business projects. The financing support will leverage additional private investment, generating a total of $104.6 million in economic activity throughout Vermont. “VEDA is pleased to offer loan and other financing support to a number of commercial, renewable energy, small business, educational and agricultural initiatives,” said Jo Bradley, VEDA’s Chief Executive Officer.