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Milk Money launches City Market crowdfunding campaign

Mon, 04/16/2018 - 12:11pm -- tim

Vermont Business Magazine MILK MONEY L3C, an equity crowdfunding portal for Vermonters, announces its seventh Invest Local Campaign: City Market. Vermonters who are Members of City Market Co-op will have the opportunity to learn more about and invest in this community-owned food cooperative via the Milk Money platform. Milk Money offers the opportunity for true “impact investing” since a dollar invested in a local business generates potential financial return as well as tangible social return on investment.

Norwich gets $150K from Alden Trust for new Mack Hall

Mon, 04/16/2018 - 10:59am -- tim

Vermont Business Magazine Norwich University in Northfield has received a $150,000 grant from the George I. Alden Trust to support its brand new academic building, Mack Hall. The gift builds upon a 2015 grant of $125,000 to support technology upgrades in the renovation of Kreitzberg Library. Ground was broken on the $50 million construction project in April 2017, which includes $24 million for a brand new academic building, Mack Hall; as well as renovations to Dewey, Webb and Ainsworth Halls. The construction is part of a broader campus transformation tied to Norwich’s $100 million comprehensive campaign in the lead-up to the university’s bicentennial in 2019.

Potentially damaging winds forecast for Monday

Mon, 04/16/2018 - 10:54am -- tim

Vermont Business Magazine The National Weather Service has issued a High Wind Warning for areas of Vermont on Monday.  Power outages and damage caused by downed trees and tree limbs are likely in the warning area. The strongest winds will occur along the western slopes of the Green Mountains, impacting communities in Western Windham, Bennington, Rutland, Eastern Addison, Eastern Chittenden, and Eastern Franklin counties.  Other areas of Vermont will also see windy conditions throughout Monday.

Leonine: Scott very publicly signs gun bills into law

Sun, 04/15/2018 - 4:54pm -- tim

Leonine Public Affairs Week 14 was defined by one of the more striking moments in recent Vermont political history. Governor Phil Scott, flanked by his wife Diana, legislative leadership and lawmakers from all parties, signed three bills that create new gun safety measures. The governor chose to sign the bills on the steps of the State House, which is usually the approach with legislation that enjoys wide popular support and little opposition. S.55, S.221 and H.422, but especially S.55, stirred more controversy over the last two months than any legislation in recent memory and a large crowd gathered at the steps well before the 2:00 pmsigning. The crowd was split relatively evenly between supporters and protesters, the latter wearing blaze orange, who carried signs and surged toward the podium when the governor approached. 

Educators, app developers invited to 'Reverse Pitch,' win $30,000 grant

Sun, 04/15/2018 - 10:16am -- tim

Vermont Business Magazine Can a new generation of apps be developed – using virtual reality, augmented reality, telepresence and other 21st century technologies – that would engage Vermont students more deeply in their learning? A “reverse-pitch” competition – to be held May 4 at 4 p.m. in the Sullivan Classroom (MedEd 200) of the Larner College of Medicine Medical Education Center at UVM – is designed to answer that question. The event is sponsored by the Burlington non-profit BTV Ignite.

Sigrist: Increasing the minimum wage will hurt the people it’s meant to help

Sun, 04/15/2018 - 5:50am -- tim

by Erin Sigrist, President Vermont Retail & Grocers Association Each year, Vermont’s grocers and retailers hire hundreds of high school and college students for their first jobs. They train them to use a cash register, to show up for work on time and in clean clothes, to interact with customers in a polite and professional manner, to problem solve when a customer requests something that’s out of stock. Some of these employees stay for years, but most move on to other jobs, where their future employers get the benefit of a mature and responsible employee.

Governor Scott still sees Sawyer as threat

Sat, 04/14/2018 - 11:50am -- tim

Vermont Business Magazine Governor Scott Friday evening issued the following statement regarding potential release of Jack Sawyer, who had been arrested in February relating to his plans for a school shooting. He remains behind bars, but the Vermont Supreme Court ruled earlier in the week that he could not be held without bail for only intending to to commit a crime. He is still in jail and is under the new "extreme risk" law, but he potentially could be released on bail at some point.

Colleen Goodridge, the matriarch of Vermont’s forest industry

Sat, 04/14/2018 - 11:01am -- tim

by Christine McGowan Every industry needs a matriarch, and Vermont’s forest products industry has Colleen Goodridge. Goodridge Lumber, owned and operated by Colleen and her sons, began in 1973 when the family decided to build a log home. They bought an old saw for $500, borrowed a tractor from the farmer next door, and started pulling trees out of the woods. As they sold logs to pay for repair parts on the saw, and eventually their own tractor, they realized they had a business opportunity.

PAI: Lawmakers can slow Vermont’s worsening income inequality

Sat, 04/14/2018 - 5:03am -- tim

by Paul Cillo Public Assets Institute Last December, Washington passed a giant tax cut that mostly benefits corporations and those at the top—in Vermont they will see a $350 million federal tax reduction in 2018 alone.  This new federal law will increase Vermont’s income inequality, which slows economic growth, increases poverty, and reduces upward mobility.

GMP net 0.5% decrease due to federal tax changes, despite rate hike

Fri, 04/13/2018 - 4:29pm -- tim

Cost pressures require 5.45% base rate increase offset by 6% credit to customers as a result of accelerated tax credit return

Vermont Business Magazine Green Mountain Power today filed a traditional rate case with the Public Utility Commission for rates set to take effect January 2019. The filing calls for a base rate increase of 5.45 percent and a bill credit that equals about 6 percent, more than offsetting the increase. The result for customers is a net decrease of 0.5 percent through September 2019, due to returning benefits from the federal tax change.

Taxes exceed revenue targets, officials still cautious

Fri, 04/13/2018 - 4:20pm -- tim

Vermont Business Magazine Secretary of Administration Susanne Young remains cautious despite tax revenues exceeding expectations for the month and the year-to-date. The Personal Income tax, the single most important revenue source, was nearly $18 million ahead of its target for the month (more than double). She revealed the numbers today but noted that positive news at this same time last year soured by the next month. She also said there is still uncertainty regarding how Corporate taxes will ultimately play out.