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Customers support solar power in Vermont at PSB heaaring

Thu, 05/05/2016 - 2:05pm -- tim

by Renewable Energy Vermont The Public Service Board (PSB) held its final public hearings on the proposed net metering rule on Thursday morning in Montpelier. Prior to Thursday's hearing, dozens of solar customers and workers gathered on the statehouse lawn to urge the Board to draft a rule that maintains a strong net metering program which allows homes, businesses, farms, and non-profits to continue to harness the power of their own energy. 

Bancroft: Divestment violates Vermont’s fiduciary responsibility to pensioners

Thu, 05/05/2016 - 1:27pm -- tim

by Robert Bancroft, State Representative, Westford & Rural Essex, Chittenden 8-3 District As an economist by training, I understand that the investment decision making practices that regulate state pension funds have grown more complex over the years. However, Governor Shumlin is asking the state pension fund to break with long-standing policy to pursue an investment strategy that is wholly inconsistent with the stated fiduciary responsibility of the VPIC.

Cathedral Square begins construction on energy-efficient housing for seniors in Milton

Thu, 05/05/2016 - 1:17pm -- tim

Vermont Business Magazine State and local officials, and leaders from finance and nonprofit housing organizations, marked the construction start of an innovative, affordable housing community for seniors at a groundbreaking ceremony on May 2. Elm Place is located at 60 Bombardier Road in Milton and will be Vermont’s first multi-family building certified to Passive House standards. The super energy-efficient building will use roughly 65 percent less energy than those built to today’s standard codes. This efficiency is achieved through better windows and doors, added insulation, and improved air sealing.

Sanders announces $5.5 million in health center funds for Vermont

Thu, 05/05/2016 - 1:06pm -- tim

Vermont Business Magazine US Senator Bernie Sanders (I-Vermont) announced Wednesday that the Department of Health and Human Services awarded $5.5 million to six community health centers in Vermont. The health centers will use this new federal funding to renovate facilities, increase patient capacity and expand primary care services. The Vermont awards are part of $260 million in health infrastructure funding announced today for 290 community health centers in 45 states, the District of Columbia and Puerto Rico.

Ledyard reports 10 percent decrease in net income

Thu, 05/05/2016 - 12:56pm -- tim

Vermont Business Magazine Ledyard Financial Group, Inc (ticker symbol LFGP), the holding company for Ledyard National Bank, has reported quarterly earnings for the first quarter of 2016. Net income for the quarter ended March 31, 2016, was $1,005,045 or $0.98 per share compared to $1,119,680 or $1.10 per share for the same period in 2015, a decrease of $114,635 or 10%.

Sherman and Trombley of Stowe Mercantile are VRGA Persons of the Year

Thu, 05/05/2016 - 12:56pm -- tim

Vermont Business Magazine Marc Sherman and Trudy Trombley of Stowe Mercantile have been honored as co-recipients of the 2016 Vermont Retail & Grocers Association Person of the Year award. The two business and community leaders received the award and were honored at the VRGA 2016 Convention & Expo Chairman’s Dinner on Saturday, April 30th at the Hilton Burlington. 

Gaz Metro et al refinance Quebec wind farms

Thu, 05/05/2016 - 12:37pm -- tim

Vermont Business Magazine Boralex Inc (TSX: BLX) (TSX: BLX.DB.A), Gaz Métro Limited Partnership and Valener Inc (TSX: VNR) (TSX: VNR.PR.A) have closed on a C$617.5 million non-recourse refinancing for Seigneurie de Beaupré Wind Farms 2 and 3 General Partnership, which operates two winds farms located 60 km northeast of Québec City on the private property of Séminaire de Québec. Gaz Métro and Valener indirectly hold interests in Wind Farms 2 and 3 through Beaupré Éole General Partnership. Gaz Métro is the parent company of Green Mountain Power and Vermont Gas Systems. A special distribution to the partners of Wind Farms 2 and 3 of C$80 million has been declared and is expected to be paid shortly after the closing of the refinancing.

Republican legislators endorse Phil Scott for governor

Thu, 05/05/2016 - 12:21pm -- tim

Vermont Business Magazine Republican lawmakers endorsed Lieutenant Governor Phil Scott for governor today. In a statement from the Scott campaign, 54 of 59 sitting Republicans announced they are supporting Scott. Of the remaining five legislators, four said they always remain neutral in party primary election. One is waiting until after the filing deadlines to make an endorsement.

Darn Tough Vermont Q1 2016 earnings up 20 percent

Thu, 05/05/2016 - 11:34am -- tim

Vermont Business Magazine Darn Tough Vermont, the American manufacturer of the fastest growing collection of performance outdoor and lifestyle socks based in Northhfield, reported today that first quarter earnings have grown 20 percent year-over-year. The double-digital growth reflects increases across all categories and a tremendous response to the brand new Vertex Running Series that launched this spring. Improvements to infrastructure and operations also continues to be a major initiative as Darn Tough implemented a new training program for manufacturing employees and completed the year-long upgrade of all knitting machines in the Northfield mill.

Burlington, UVM selected for White House MetroLab Network

Thu, 05/05/2016 - 9:24am -- tim

Vermont Business Magazine Mayor Miro Weinberger and University of Vermont Vice President for Research Richard Galbraith have joined the MetroLab Network, a network of 35 city-university partnerships focused on bringing data, analytics, and innovation to local government. Members of the network research, develop, and deploy technologies and policy approaches to address challenges facing the nation’s urban areas.

Burlington Electric unveils electric vehicle charging stations on UVM campus

Thu, 05/05/2016 - 5:11am -- tim

Vermont Business Magazine The University of Vermont and the Burlington Electric Department on Wednesday officially unveiled four dual port electric vehicle (EV) charging stations positioned in strategic locations around the campus. During a joint news conference at the new Aiken Center charging station, UVM and BED representatives highlighted their commitment to increased workplace charging opportunities as a strategy to increase the number of EVs on the road and to decrease greenhouse gas emissions, all resulting from the ability to simultaneously charge eight vehicles.