Vermont Business Magazine News

Springfield Hospital was awarded $1.3 million to become Vermont’s eighth Federally Qualified Health Center providing primary care for residents of southeastern Vermont, Senator Bernie Sanders announced today. “This is a great day for the advance of health care access in Windsor and Windham counties,” said Sanders (I-Vt.).

The Vermont Teddy Bear Company, a leading provider of direct-to-consumer gifts, today announced that John Gilbert, 52, has been named president and chief executive officer.

Cortera, a premier provider of collections and credit insight for commercial enterprises, today released compelling data that assesses the overall economic health of a region based on how well companies are paying their suppliers. Cortera's database tracks 18 million public and private companies in the United States based on thousands of trade payment contributors and contains over $250 billion in accounts receivable information. This analysis, which can be accessed at http://www.cortera.com/stats, revealed the following:

Senator Bernie Sanders (I-Vt.) today announced a $5 million grant for the Vermont National Guard that could result in the largest solar energy project in the state and one of the largest in New England. “This project will not only help the Vermont National Guard reduce its electric bill and carbon footprint, but will be a major step forward in moving our state toward a greener economy which relies more and more on sustainable energy,” Sanders said.

Brutal economic times spur resourcefulness and innovation, two attributes that aptly describe Smart Business, a new commuting program from the Chittenden County Transportation Authority (CCTA) that delivers savings incentives to savvy employers and their employees. Through the Transportation Equity Act (TEA-21), the federal government provides financial incentives to encourage more workers to commute with public transportation, through programs like Smart Business. The program is convenient and easy to administer.

Susan Murray of Langrock, Sperry & Wool has been named as the first ever Burlington Family Lawyer of the Year. She received this honor from Best Lawyers, the oldest and most respected peer review publication in the legal profession, because her fellow attorneys in the area of family law consistently rate her at the top of the field. Murray, a graduate of Smith College and the New York University School of Law, has been with Langrock for 25 years. In addition to her work in the areas of family law and estate planning, she is well known for her role in the Baker v.

Vermont Law School, known for its top-ranked environmental law program, is pleased to announce that James Gustave Speth, currently dean of the Yale School of Forestry and Environmental Studies, will be joining its faculty as of July 1, 2010.

Seizing the opportunity to make needed long-term investments in the face of a weak economy, 12 states and cities are launching innovative projects to preserve more than 70,000 affordable rental homes. The new projects will assist military families in Maryland, seniors in rural Iowa and Vermont, low-wage workers in Florida and Oregon, and people who have been homeless in Los Angeles.

To address the growing demand for advanced wireless data products and services, such as the BlackBerry(R) Bold(TM) and the Samsung Eternity(TM), AT&T* today unveiled its network expansion plans for Vermont in the coming year.

Mack Molding of Arlington has demonstrated its commitment to the triple-bottom line – people, planet and profit – by installing more than 2,100 energy-efficient lighting fixtures in its southern Vermont manufacturing facilities. The comprehensive lighting project is one of the 10 largest energy-saving projects completed by a Vermont company in partnership with Efficiency Vermont.

Wondering how your business, municipality, organization, or non-profit could benefit from the recently enacted economic recovery bill? Interested in how the stimulus bill might help you buy a home or impact your family's bottom line this year? U.S. Senator Patrick Leahy, Governor James Douglas, the Vermont Procurement Technical Assistance Center, and the Vermont Small Business Development Center (VtSBDC) invite you to attend a FREE workshop that will help Vermonters understand selected programs included in the American Recovery and Reinvestment Act.

John H. “Josh” Fitzhugh, president and chief executive officer of Union Mutual of Vermont Companies, announced today that Thomas H.

Montpelier, Vt. – Speaker Shap Smith and Senate President Pro Tem Peter Shumlin today announced a balanced budget framework for building a 21st Century government and asked Senate and House committees to evaluate structural changes that will enable the state to do more with less.

Montpelier, VT— FairPoint customers may be wondering why they have not received their monthly bill; there is an explanation and some important information for consumers. Since January 30th, when cutover from Verizon-owned systems to new systems owned and operated by FairPoint occurred, the mailing of customer bills has been delayed, with customers receiving bills several weeks later than they normally would.

Representatives Branagan, Devereux, Haas, Hube, Manwaring, Moran, W. Stevens, and Zenie announced their introduction of legislation that will require that any bill affecting property taxes shall be accompanied by a fiscal note when it is voted out of a standing committee of the general assembly. In times of fiscal uncertainty, when federal, state and local responsibilities are being redefined, our property owners are more vulnerable than ever to surreptitious tax shifting.

MONTPELIER – The Vermont Agency of Transportation (VTrans) awarded the Richmond Bridge Street Bridge improvement project to T. Buck Construction of Auburn, Maine. T. Buck plans to begin work March 9, 2009 and will close the bridge to traffic that day.

Eighteen Champlain College students put their best foot forward Tuesday night at the second annual Elevator Pitch Competition, presented by the Bring Your Own Business (BYOBiz) program and KeyBank.

A multi-million-dollar substation and voltage support equipment just completed by Central Vermont Public Service is making a major contribution to electric service reliability in southern Vermont.

There were 1,301 new regular benefit claims for Unemployment Insurance last week,  a decrease of 209 from the week before.  Altogether 17,433 new and continuing claims were filed, 392 more than a week ago and 6,663 more than a year earlier. In addition, the Department processed 1,847 claims for benefits under Emergency Unemployment Compensation, 2008,  the same as last week.

Montpelier, Vt. – With hundreds of millions of federal stimulus dollars set to flow to Vermont, Speaker Shap Smith today called for the formation of a Vermont Oversight Panel to ensure transparency and the effective deployment of taxpayer dollars.

Ed Colodny, long-time member of the Vermont Symphony Orchestra board was recently named honorary chair of the VSO Endowment Campaign. In January, the VSO governing board announced that it has launched a major campaign to raise $3.5 million, and that it had already raised $2.6 million toward that goal.

On February 1st, GAW (Brattleboro, VT) acquired Power Shift of Stowe, VT, the second largest broadband Internet provider (based on coverage area) supporting northwestern, VT with service from Stowe to Morrisville and greater Lamoille County.  From its humble beginnings as a small computer services company in Montreal, Canada, Power Shift's President, Joe Allen, moved the business to Stowe, VT in 1995.

Burlington Electric Department has reached agreement with First Wind on behalf of its subsidiary, Vermont Wind, LLC, to buy 40 percent of the power and the renewable energy certificates (RECs) at the 40 megawatt Sheffield Wind project for the next 10 years under a fixed-price agreement.

The Vermont Economic Development Authority (VEDA) has approved $14.7 million in business, agricultural and energy conservation financing for projects throughout Vermont totaling $17.3 million. “Especially during these difficult economic times, VEDA is pleased to help businesses expand, support investments in energy conservation measures, and provide assistance to Vermont farmers in their efforts to sustain and strengthen their operations ” said Jo Bradley, VEDA’s Chief Executive Officer. Approved for VEDA financing assistance are:

On Feb. 23, 2009, the board of directors of Central Vermont Public Service (NYSE: CV) declared a quarterly dividend of 23 cents per share on the issued and outstanding shares of common stock, $6 par value, payable May 15, 2009 to stockholders of record at the close of business May 5, 2009.

Captive insurance industry tends to be counter-cyclical, lawmakers consider beneficial provision Amid the gloom enshrouding Vermont's economy, one bright spot stands out: the captive- insurance sector. In fact, its glow may grow even brighter in the coming year, despite the dimming prospects for an early recovery. "It's counter-cyclical," Molly Lambert, president of the Vermont Captive Insurance Association, says in regard to her industry. "As conditions become more volatile, companies learn to take more control of what they can.

A Massachusetts skydiver participating in the Brattleboro Winter Carnival crashed into a 7,200-volt power line Saturday, but walked away unharmed. “I’ve never seen anything like it in my entire career,” said Dave Miller, operations supervisor for Central Vermont Public Service’s Brattleboro District. “He is one of the luckiest people I’ve ever met.”

Today the University of Vermont announced details of its plan to cut $10.8 million from next year's general fund budget. The University is eliminating vacant positions, increasing student/faculty ratios modestly to achieve a long-planned target, curtailing some administrative programs, and making a limited number of layoffs. In addition to cuts in the University's general operating budget, reductions are also being implemented in income/expense activities supported by non-tuition fees and other income. The majority of the cuts will take effect on June 30, 2009.

Governor Jim Douglas announced today that most Vermont employers will enjoy lower workers’ compensation costs when new rates approved by the Department of Banking, Insurance, Securities and Health Care Administration (BISHCA) go into effect on April 1, 2009.  This will be the largest average decrease in rates since 1997.

The Burlington Harbor Hotel Group has obtained preliminary permits for a new hotel, to be built at 41 Cherry Street in the last remaining lot in Burlington's 40-year urban renewal. Construction of the 121-room hotel could begin in September, pending final zoning approval from Burlington regulators. The development plan also includes a 31-room expansion to the adjacent Courtyard by Marriott. Mayor Bob Kiss and developer Jay Canning of the Hotel Group have said the project will bring jobs and eventually income to the city.