Vermont Business Magazine News

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.

With several representatives for various building, construction and realty organizations present, Governor Jim Douglas (during his weekly press conference yesterday) called for enhanced efforts to help build the economy and grow Vermont jobs by embracing his proposed Economic Growth Plan. One of the critical components of the plan is permit reform.

John Casella, chairman and chief executive of Casella Waste Systems, started his Rutland-based business in 1975, working with his brother and one garbage truck. In 1977, Casella Waste opened Vermont's first recycling center.

The request by Central Vermont Public Service (NYSE: CV) to defer the extraordinary service restoration costs associated with a December 2008 ice storm has been approved by the Vermont Public Service Board. The amount approved for deferral under the company's alternative regulation plan is $4.1 million of the approximately $5.3 million total cost of the service restoration effort. As noted in its press release of Jan. 21, 2009, this deferral will allow the company's 2008 earnings to return to the level of $1.45 to $1.55 per diluted share.

William Maclay Architects & Planners (WMAP) won an Honor Award in the 2009 Vermont Chapter of the American Society of Landscape Architects (ASLA) Open Space Competition for their design work on the Pyralisk Arts Park project in Montpelier, Vermont.  Governor Jim Douglas presented the award to designer Ward Joyce and firm president William Maclay at the annual VT ASLA awards meeting held at the State Capitol on February 17.

Same designers led Burlington’s waterfront renewal The same firm that helped lead the revitalization efforts along Lake Champlain in downtown Burlington, Vermont has been selected by the city of Henderson, Kentucky, for a similar effort.

Vermont housing affordability improved significantly in 2008, the second year of improving affordability.   This is the main conclusion of the annual affordability study performed by The Vermont Economy Newsletter.  The study was based on an analysis of all the residential housing sales in Vermont from 1987 to 2008.