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Vermont tax revenues indeed reveal 'April surprise'

Mon, 05/04/2015 - 4:57pm -- tim

by Timothy McQuiston, Vermont Business Magazine Just as the state economists suggested might happen in regards to personal income tax revenues, April receipts were the largest on record in the state of Vermont at $160.76 million, in data released today. The economists made this prediction in large part because of growing corporate profits in 2014 that did not show up in typical personal income withholding, but had to be accounted for once taxes were filed.

Hermitage Ski Club settles Vermont environmental permitting violations for $205,000

Mon, 05/04/2015 - 4:39pm -- tim

The Hermitage Ski Club at Haystack Mountain, a private ski resort in Wilmington and Dover, Vermont, has admitted to violating land use and environmental permitting laws and has agreed to pay $205,000 in civil penalties for violations that occurred during construction and development of the ski resort. “Developers cannot ignore our permitting and environmental statutes,” said Attorney General Bill Sorrell. “Ski resorts are critical to Vermont’s tourism economy, but all development projects must meet our environmental standards,” he added.

Seventh Generation launches Change for Good diaper promotion

Mon, 05/04/2015 - 3:43pm -- tim

Seventh Generation, a leading household and personal care company, based in Burlington, Vermont, today launched a new promotion in partnership with Whole Foods Market and Baby Buggy that will help make every diaper change a "change for good." For every pack of Seventh Generation Free & Clear diapers purchased at Whole Foods Market from May 1 - September 30, 2015, Seventh Generation will donate a pack of newborn or size one diapers to Baby Buggy, a national nonprofit that provides families with children in need across the country with essential gear, clothing, products and services.

The Christmas Loft sold to Shelburne Country Store owners

Mon, 05/04/2015 - 3:28pm -- tim

Steve and Deb Mayfield, owners of the Shelburne Country Store, today announced the acquisition of The Christmas Loft located in Shelburne. Based in Jay, Vermont, The Christmas Loft is a privately held corporation that operates three retail locations in Shelburne and in North Woodstock and North Conway, New Hampshire. The purchase by the Mayfields includes just the Shelburne location. The Christmas Loft will continue to operate the remaining New Hampshire locations as well as their office and warehouse in Jay independently.

State grant of $500,000 will make affordable housing more energy efficient

Mon, 05/04/2015 - 1:24pm -- tim

by Timothy McQuiston, Vermont Business Magazine Heating should be cheaper next winter for 80 homes near Saint Michael's College in Colchester. A $500,000 Vermont Community Development Program grant, announced by Governor Peter Shumlin Monday morning, will help lock-in their affordability by making them more energy efficient. The apartments are part of Winchester Place, a mixed-income development of 166 apartments owned in partnership by the Champlain Housing Trust and Housing Vermont.

President Obama proclaims National Small Business Week, 2015

Mon, 05/04/2015 - 9:46am -- tim

National Small Business Week 2015 celebrations kicked-off today in South Florida. The annual event is hosted by the U.S. Small Business Administration and designed to recognize the nation’s top small businesses, entrepreneurs, and business advocates. The week-long event will continue through Friday, May 8, with SBA Administrator Maria Contreras-Sweet hosting planned national events in Los Angeles, San Antonio, New York City and Washington, D.C., where festivities will conclude with recognizing national award winners and the selection of the national Small Business Person of the Year.

Fitch affirms all notes issued by Vermont Student Assistance Corp Series 2013-1

Mon, 05/04/2015 - 7:22am -- tim

Fitch Ratings has affirmed the senior student loan notes at 'AAAsf' and the subordinate student loan notes at 'Asf' issued by Vermont Student Assistance Corp Series 2013-1. The Rating Outlook on the notes, which is tied to the sovereign rating of the US government, is Stable.

KEY RATING DRIVERS

NEK Economic Development Initiative/EB-5 projects progress report

Sun, 05/03/2015 - 6:59am -- tim

The April Northeastern Vermont Development Association progress report offers the following updates to the EB-5 development projects under way in the northeastern part of the state. AnC Bio Vermont: Developers will begin construction on the 84,000-square-foot bio-tech research and manufacturing facility on May 14, 2015. The Peak CM Construction project is expected to take 14-16 months.       

Q Burke Mountain Resort - Construction Updates

$10.5 million drywall class action settlement announced over alleged price fixing

Sun, 05/03/2015 - 5:07am -- tim

The following statement is being issued by Block & Leviton LLP, Finkelstein Thompson LLP and Green & Noblin PC regarding the Drywall Antitrust Litigation. If you purchased Wallboard INDIRECTLY from one or more of the companies listed below, your rights may be affected by proposed Settlements. Proposed class settlements totaling $10.5 million have been reached with two Defendants in In re Domestic Drywall Antitrust Litigation, MDL No. 2437 and 13-MD-2437, pending in the US District Court for the Eastern District of Pennsylvania.

Vermont Tech students take 1st place in SEI student design competition

Sat, 05/02/2015 - 5:30am -- tim

Vermont Tech is pleased to announce that a team comprised of Alyshia Jones from Randolph, VT, David Cacciamani from Hyde Park, VT and William A. Moore IV of Milton, VT placed first in the American Society of Civil Engineers’ Structural Engineering Institute’s (SEI) Student Design Competition. All three individuals are 2014 graduates of the Architectural Engineering Technology Bachelor’s program at Vermont Tech.

Vermont high schools tested on financial literacy, $3,000 first prize

Sat, 05/02/2015 - 4:40am -- tim

This is the seventh year that the Vermont State Treasurer’s Office has held the finance tournament for high schools to select a Vermont Treasury Cup Challenge champion. The purpose of the competition is to promote student interest in and knowledge of personal finance, economics and consumer affairs topics. Four-person student teams will compete against each other in a quiz-show style contest that tests individual and team knowledge.

Vermont granite featured in sophisticated landscaping throughout New England

Sat, 05/02/2015 - 3:05am -- tim

Melting snow and drying mud: It’s the time of year when everything rises to the surface. As spring takes center stage throughout New England, homeowners and contractors alike are using Vermont granite to beautify, reinforce, and redirect the forces of a long winter. Garden accents, courtyards, pool areas, outdoor dining patios, and walkways in neighboring states are the product of Swenson Granite Company LLC, the parent company of Rock of Ages Corporation in Barre, Vermont.

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