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Scott: F-35 mission essential to the state’s economy, security and future of VTANG

Fri, 05/18/2018 - 2:29pm -- tim

Vermont Business Magazine Governor Phil Scott issued the following statement regarding Secretary of the Air Force Heather Wilson’s testimony before the US Senate Appropriations Committee on Thursday. “After a national search, Vermont’s Air National Guard was the third unit to be assigned to the F-35 mission, and the only National Guard unit. Vermont is very proud our National Guard would stand out in such a competent and crowded field."

PAI: For Vermont workers and families, geography matters

Fri, 05/18/2018 - 2:25pm -- tim

Public Assets Institute Employment grew in April for the fourth straight month, adding more than 1,000 people to the ranks of working Vermonters. But from 2012 to 2017 the total number of people employed in the state shrank by nearly 3,000, or about one percent. The losses have not been evenly distributed. Only four counties—Addison, Chittenden, Lamoille, and Washington—saw employment gains, which totaled more than 2,000 over the five-year period.

Northeast stakeholders converge next week to discuss clean transportation

Fri, 05/18/2018 - 1:43pm -- tim

Vermont Business Magazine On May 21, in Connecticut, a broad-based meeting of lawmakers, business leaders, transportation experts, and others will provide the best opportunity so far for experts and community members in the Northeast/Mid-Atlantic region to trade ideas on a recent commitment by Vermont and seven states and Washington, DC, to develop a regional initiative for clean transportation.   

June 1 deadline nears for dairy farmers

Fri, 05/18/2018 - 1:40pm -- tim

Vermont Business Magazine Vermont dairy farmers are strongly encouraged to push the pencil and closely look at the Milk Margin Protection Program by June 1. The USDA program received upgrades in 2018 thanks to diligent work by Senator Patrick Leahy. The State of Vermont is prepared to help pay a portion of federal milk margin protection program.

Weekly unemployment claims fall again to under 400

Fri, 05/18/2018 - 1:16pm -- tim

Vermont Business Magazine Weekly unemployment claims fell again for the third week. Employment, typical for this time of year, is at a high level. For the week of May 12, 2018, there were 357 claims, 76 fewer than than they were the previous week, and 68 fewer than they were a year ago.(Claims are down over 500 the last three weeks.) Altogether 3,863 new and continuing claims were filed, a decrease of 718 from a week ago, and 743 fewer than a year ago. For most weeks of 2017 and 2018 claims have been below the year before. 

UVM Sunday Commencement to be held outdoors despite rain forecast

Fri, 05/18/2018 - 12:36pm -- tim

Vermont Business Magazine The University of Vermont will celebrate its 217th Commencement on Sunday, May 20 – outdoors. While Sunday’s forecast is calling for rain showers, it does not indicate severe weather, so both the University Commencement Main Ceremony and College of Arts and Sciences Ceremony will take place outdoors on the University Green. Graduates and guests are urged to dress appropriately for the weather. Tickets will not be required for the University Main Ceremony or the College of Arts and Sciences Ceremony.

Vermont jobless rate holds at 2.8 percent in April

Fri, 05/18/2018 - 10:49am -- tim

Vermont Business Magazine The labor force and total employed are both way up in April for both the month and the year. The Vermont Department of Labor announced today that the seasonally-adjusted statewide unemployment rate for April was 2.8 percent. This reflects no change from the revised March rate. The comparable United States rate in April is 3.9 percent, which was a decrease of two-tenths of one percentage point from the revised March estimate. The seasonally-adjusted Vermont data for April show the Vermont civilian labor force increased by 1,076 from the prior month’s revised estimate (up 3,452 for the year). The number of employed persons increased by 1,062 (up 4,487 for the year) and the number of unemployed persons increased by 14 (down 1,035 for the year). 

Governor, lawmakers prepare for overtime

Fri, 05/18/2018 - 10:28am -- tim

by Timothy McQuiston Vermont Business Magazine The legislative leadership and Governor Phil Scott will meet on Monday to discuss procedure for the special session May 23, which the governor called for earlier this week. Unlike a veto session, a special session allows for any legislation to be addressed not simply that which the governor vetoes. Scott said he will not sign the budget or tax bills as currently written. Without an agreement, state government would shut down July 1.

VHCB awards $7.08 million for projects in 10 towns

Thu, 05/17/2018 - 3:57pm -- tim

Vermont Business Magazine At a meeting on May 3, the Vermont Housing & Conservation Board awarded $7,084,832 to create, preserve, and rehabilitate 177 affordable homes in Lyndon, Rutland and Fair Haven; to help develop a pedestrian and bike trail in Newport; to conserve four farms in Addison, Orange, Grand Isle, and Washington Counties; and to support a floodplain restoration project in Guilford.

Air Force secretary says F-35 only option for Vermont

Thu, 05/17/2018 - 3:32pm -- tim

Vermont Business Magazine Below is a link to video and text of Senator Patrick Leahy’s (D-Vermont) exchange  with Secretary of the Air Force Heather Wilson at today’s Appropriations Committee hearing. Secretary Wilson testified directly that there is not another mission for the Vermont Air National Guard, other than the F-35 mission. Leahy is the Vice Chairman of the Appropriations Committee, and today’s hearing is part of the committee’s process in writing the federal budget for Fiscal Year 2019.

The VIDEO can be found by clicking the image of Secretary Wilson.

Vermont passes onshore reinsurance alternative into law

Thu, 05/17/2018 - 2:54pm -- tim

Vermont Buisness Magazine Governor Phil Scott signed new legislation into law strengthening Vermont’s financial services industry in a variety of areas. The new law offers an onshore affiliated reinsurance alternative to insurance companies affected by the recent imposition of the Base Erosion Anti-Abuse Tax (BEAT) on reinsurance ceded to offshore affiliates. Vermont’s new law provides a solution by creating a more favorable reinsurance alternative for US companies conducting business in offshore jurisdictions that are now faced with a substantial new tax burden.

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