The American Brewers Guild Brewing School will be hosting it’s professional brewing class, at Otter Creek Brewing, in Middlebury Vermont, from December 1st to 6th, 2003. The American Brewers Guild, one of only three professional brewing schools in the country, is now headquartered in Salisbury, Vermont. The residential week of the Intensive Brewing Science and Engineering and Craftbrewer’s Apprenticeship Programs will host 20 students and four instructors and is a culmination of 21 weeks of learning. It will include hands on brewing, laboratory analysis and sensory evaluation, ending with a rigorous final examination. The graduation will be held December 6th at 1:00 pm at the Waybury Inn in East Middlebury. Students and brewing instructors will be coming to Middlebury from all over the country, some from as far away as California.The American Brewers Guild, which started in Davis California, has been educating and training professional craft brewers since 1995. Award winning Brewmaster Steve Parkes and his wife Christine McKeever purchased the American Brewers Guild in 1997. Operations were moved to Vermont in 2003 when Mr. Parkes accepted the position as Head Brewer with Otter Creek Brewing and Wolaver’s Organic Ales. For more information on the American Brewers Guild see their website at www.abgbrew.com(link is external).
A Sears Authorized Retail Dealer Store has opened at 383 Exchange Street, Middlebury. The store is owned and operated by the Harrington familyMike, Kym, Ashley, Chad, Jared, Michaela and Sethall of Leicester, Vermont.There are five additional employees, other than family members, and the Harringtons hope to add more local jobs in the future. Owner Kym Harrington stated, “We wanted to offer the Middlebury community something it really needed, and with a name like Sears, how could we go wrong?”The store carries appliances, electronics, tools, lawn and garden equipment, exercise equipment, vacuums, snow blowers, generators and much more. Customers will be able to place orders at www.sears.com(link is external) and have them delivered free of charge to the Exchange Street location. This service is available for any product sold by Sears.
MONTPELIER, Vt. The numbers are in, and the state’s new job creation incentive program had a strong rookie season, creating 265 new jobs and generating nearly $600,000 in new tax revenues for Vermont in 2007.A final report released by the Vermont Economic Progress Council and the Vermont Department of Taxes, which jointly administer the Vermont Employment Growth Incentive program, shows that the seven companies approved for activity during its first year created $10 million in new payroll.They also made $23 million in capital investments, and the new jobs and economic activity generated an estimated $583,000 in net new tax revenues to the state, almost twice what was initially estimated.We are extremely pleased with the performance reports from companies participating in the Vermont Employment Growth Incentive program, said Karen L. Marshall, Chair of the Vermont Economic Progress Council. The authorized incentives leverage important economic drivers: New, well-paying jobs for Vermonters, new payroll, and capital investments in our communities.According to the data, the five companies that met their December 2007, first-year targets projected they would create 247 new jobs and $8.6 million in new payroll in 2007, but actual job creation by these companies was 259 new jobs and $9.5 million in new payroll. The average wage of the jobs is $42,282 and the companies all offer full benefits packages, including health care coverage. The average total compensation of the jobs is $51,073, and the authorized companies also exceeded their capital investment targets.This new economic activity generates additional tax revenues to help pay for other programs, Marshall said. For 2007 alone, the state invested about $845 per job and reaped a positive return on investment with new jobs and payroll, capital investment, and a net tax revenue return of $2,158 per job. This is truly a good investment for Vermont, she said. These are jobs and tax revenues that the state would not have realized unless the incentives were authorized. Two other companies authorized to receive incentives created a total of 6 jobs but did not meet their first-year targets for job creation and investment.Under reforms proposed by Governor Jim Douglas and passed by the Legislature in 2006, the VEGI economic incentives are authorized based on job and payroll creation and capital investments that must occur before the company receives incentive payments over a period of years. During consideration of the incentive authorizations, the Council determined that these projects would not occur or would occur in a significantly different and less desirable manner if not for the incentives being authorized. So if targets are met, the state is using a small portion of all the new revenues generated by the new activity of these companies-revenue that would not have otherwise been generated-to pay the incentive over a period of several years. The previous program had companies earning tax credits that were applied against future tax liability. The new program allows start up companies, which may not have tax liability, to take advantage of the incentives as well as providing greater program accountability.During the first year of VEGI, the Council considered 17 applications, of which two were denied, 6 rescinded for various reasons, and 2 were approved in 2007 but did not commence until 2008.The remaining 7 projects were authorized for incentives totaling $5.8 million to be earned, if targets are met, between 2007 and 2011 and paid out between 2008 and 2016.These projects projected the creation of 1,000 jobs between 2007 and 2011, with $37.1 million in new payroll and an average compensation of $48,432, and the investment of over $45.7 million in new facilities and machinery and equipment in Vermont. Over the five years, this activity will generate over $5.8 million in net new revenues for Vermont.Final reviews by the Vermont Department of Taxes of the 2007 claims filed by the companies indicate that five of the seven companies with activity in 2007 met or exceeded their Year 1 (December 31, 2007) targets. Two of the companies did not reach their 2007 targets by December 31, 2007. This does not mean that the companies did not do any of the activity they projected. They added new jobs and payroll and made substantial investments. But they did not meet the strict targets required to earn the incentive as of December 31, 2007. Under new legislation, these companies have 24 months to meet their 2007 targets. No incentive will be paid to these two companies until the targets are met and no incentive will ever be paid if the targets are not met. In addition, if any of the companies that did meet their targets do not maintain the jobs and payroll, future installments of the incentive they earned in 2007 will not be paid. Incentive payments for the 2007 activity to the five companies that met their 2007 targets totaled $208,653. Even accounting for the cost of the incentive payment and other costs to the state, the net tax revenue gain for 2007 alone was an estimated $582,792. The companies authorized to earn VEGI incentives for activity in 2007 were:” Monahan SFI: The incentives allowed family-owned brush manufacturer Thomas Monahan to purchase and reopen the Specialty Filaments plant in Middlebury, putting over 100 laid off Vermonters back to work. ” Vermont Timber Frames: After moving to New York several years ago, the incentives convinced this building component manufacturer to locate an expansion project in Vermont, reutilizing an empty industrial site in Bennington.” Omni Measurement, Inc.: This small R&D company was preparing to take its product from the drawing board to assembly line and could have outsourced production, but the incentives instead mean Vermont shares in the company’s success supplying our Air Force personnel with necessary equipment and reaps the new jobs, capital investment and the reutilization of an industrial building in Milton.” NEHP: The incentives helped this Williston manufacturer of process piping modules for the Semiconductor, Solar & Life Science industries jumpstart its R&D efforts to take advantage of new market potential.” Green Mountain Coffee Roasters: Because of the incentives offered the company established its second Vermont facility in Essex Junction instead of outside the state, bringing more than 100 jobs there. In addition, jobs were added at the Waterbury headquarters and hiring continues at both sites.” Burton: The incentives helped ensure that this Vermont company did not follow in the steps of others in the winter sports equipment sector by moving their headquarters out west. Instead, a major expansion will be located in Vermont.” Energizer: A new battery line that could have been installed in any of the company’s many offshore facilities will be in Vermont because of the incentives, along with many new jobs and capital investment that helps ensure the future of Energizer in St Albans.The Council authorized the companies to earn incentives after assuring compliance with nine program guidelines and applying a rigorous cost-benefit analysis that ensures an increase in state tax revenues even after payment of the incentives. The Council also determined that these projects would not occur or would occur in a significantly different and less desirable manner if not for the incentives being authorized. The Vermont Economic Progress Council is an independent board consisting of nine Vermont citizens appointed by the governor that considers applications to the state’s economic incentive programs.The Council is attached to the Vermont Agency of Commerce and Community Development, whose mission is to help Vermonters improve their quality of life and build strong communities.To view the full 2007 VEGI Annual report, visit:http://economicdevelopment.vermont.gov/Portals/0/VEGI_2008_%20Annual%20R(link is external)…For more information on VEPC and VEGI, visit:http://www.thinkvermont.com/vepc(link is external)
A team of over a dozen IBM volunteers worked through the day putting a new roof on the building that houses vital disaster relief supplies and tools at the regional headquarters of the American Red Cross. These critical infrastructure repairs are a direct result of a unique community partnership as IBM and the United Way of Chittenden County team up with Merchants Bank and the State of Vermont to support the American Red Cross. The Mansfield Avenue location in Burlington supports over 1,300 volunteers statewide who help their neighbors prevent, prepare for, respond to, and recover from emergencies.With funding from the Merchants Bank Foundation, matched in part by a grant from the State of Vermont s Human Services and Educational Facilities Grant Program, a dozen or so volunteers participated in the IBM Days of Caring program promoted by the United Way of Chittenden County. This partnership represents all that makes the non-profit / for profit partnership in Vermont so unique said Pat Kaiser, volunteer chair of the chapter. He went on to say; in these challenging economic times we want to make sure our donor dollars go directly into meeting the needs of Vermonters. These grants and volunteer efforts help us drive every dollar possible into critical disaster relief.All American Red Cross disaster assistance is free, made possible by voluntary donations of time and money from the American people. You can help the victims of thousands of disasters across the country each year with a financial gift to the American Red Cross Disaster Relief Fund. The American Red Cross honors donor intent so if you wish to designate your donation to a specific disaster, please do so at the time of your donation. Call 1-802-660-9130 to make a contribution to the Disaster Relief Fund or you can send your check to the Northern Vermont Chapter at 29 Mansfield Avenue, Burlington, VT 05401. Internet users can make a secure online contribution by visiting www.nvtredcross.org(link is external).Source: Red Cross
SOURCE General Dynamics Armament and Technical Products. July 1, 2009. General Dynamics Ordnance and Tactical Systems,General Dynamics Armament and Technical Products, a business unit of General Dynamics (NYSE: GD), has been awarded a $10 million contract extension by U.S. Army TACOM-ARDEC for the production of MK19 grenade machine guns. Deliveries are expected to begin in April 2010and will be completed in July 2012. This award brings the total contract value to date to over $67 million.According to General Dynamics Armament and Technical Products gun systems program manager, Jeffrey Gramse, “The MK19 has been in service for over 20 years, providing lethal fire against a variety of targets. The weapon’s high lethality and broad versatility gives the U.S. Armed Forces an essential weapon for use in both offensive and defensive operations.”Production work will be performed at General Dynamics Armament and Technical Products’ Saco, Maine, facility using its existing workforce. Program management will be performed in Saco with support from the company’sBurlington, Vt.-based Technology Center.General Dynamics Armament and Technical Products’ site in Saco is the company’s production site for single- and multi-barrel aircraft and crew-served weapon systems. The site provides complete production capabilities, from design and development to manufacturing, testing and integration.General Dynamics Armament and Technical Products’ site in Burlington is the company’s Engineering Center of Excellence. The campus spans four buildings: Lakeside offices, an engineering development lab, a systems modernization initiative office, and an expansive test facility. More information is available online at www.gdatp.com(link is external).General Dynamics, headquartered in Falls Church, Va., employs approximately 92,900 people worldwide. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about General Dynamics is available online at www.generaldynamics.com(link is external).
American Recovery and Reinvestment Act enhancements to U.S. Small Business Administration (SBA) loan programs have led to a major rebound in Vermont of SBA-backed loans for small businesses and greater access to much-needed capital. SBA lending in Vermont dramatically increased in the second quarter of the 2010 fiscal year, Jan. 1, 2010 through March 31, 2010. Compared to the second quarter of FY 2009, the 2010 second quarter increased 169 percent from 35 to 94 7(a) loans, with a dollar volume increase from $6,591million in 2009 to more than $19 million, an increase of 191 percent. (See spread sheet for additional details.) Signed into law on Feb. 17, 2009, the American Recovery & Reinvestment Act (ARRA) provided broad-reaching assistance to small businesses, including an increase in the guarantee on all loans up to 90 percent from 75-85 percent and the elimination of guaranty fees, resulting in substantial savings for small business borrowers. We are encouraged by these results, said SBA Vermont District Director Darcy Carter. With the enhancements provided under the Recovery Act, compared to where we were a year ago, we ve made a significant difference by providing access to capital for many of Vermont s deserving small businesses. As part of the Recovery Act, SBA received $730 million to help small businesses. These funds were exhausted on Nov. 23, 2009, and an additional $125 million was provided by Congress in Dec. 2009. When those funds were exhausted in late Feb. 2010, an additional $60 million was provided. A subsequent extension will allow SBA to continue to waive loan fees and provide higher guarantee levels through April 30, 2010, or until the funds are exhausted. SBA is continuing to work with Congress to provide longer term funding for our primary loan program enhancements, added Carter.For more information on SBA s programs and services, call 802-828-4422 or go to www.sba.gov(link is external). Source: SBA. 4.8.2010 See results Below. 2nd Q 20092nd Q 2010 YTD 2009YTD 2010 2,353,0003,849,00064% 2nd Q 20092nd Q 2010 Number of LoansNumber of Loans% Change $ loans$ loans% change Vermont – 50465-16% $ loans$ loans% change 3594169% First Q 2009First Q 2010 YTD 2009YTD 2010 Vermont – All10,854,00020,048,50085% 16500% Vermont – All499594% 6,591,00019,187,557191% Vermont – 7a8,624,00017,234,500100% First Q 2009First Q 2010 71157% 78184136% 123,0001,035,000741% 85195129% #’sNumber of LoansNumber of Loans% Change VT District Office 15,215,00036,422,057139% 6,714,00020,222,557201% Vermont – 5042,230,0002,814,00026% 36100178% $’s$ loans$ loans% change Number of LoansNumber of Loans% Change Vermont – 7a4390109% 17,568,00040,271,057129%
By Ryan Janson. The Vermont Energy Company has been providing heating, air conditioning, and plumbing products and services to homes and businesses since 1984.According to a new SEC filing, Vermont Energy attracted a $260,000 seed investment in order to grow their environmentally conscious gas station and convenience store business.The company currently operates a flagship store and four-pump gas station in Burlington. A company spokesperson said their goal is to become a leading supplier of alternative fuels in the long run, and stock their shelves with sustainable items in addition to other packaged goods.The idea is to offer a friendly alternative to 7-eleven, Mobil, and other leading gas station and convenience stores. Hoovers research shows that the gas and convenience store industry in the United States reaches $200 billion in annual sales primarily selling gasoline.The Vermont Energy Company, assuming it takes off, could become the choice brand for drivers looking for grease diesel or other clean and advanced fuels.The company is now offering drivers of fuel-efficient cars a discount on regular gasoline. Under the name The Good Carma program, the discount is based on the miles-per-gallon ratings of customers’ vehicles. If these types of programs become available nationwide, they could potentially encourage customers to upgrade to more fuel-efficient electric vehicles.
When it comes to property and casualty insurance, Vermonters have the best insurance market and the best regulators, according to the Heartland Institute. The ranking is below. The Heartland Institute’s mission ‘is to discover, develop and promote free market solutions to social and economic problems.’ The institute annually rates the states’ insurance departments against two criteria: ‘How free are consumers to choose the property and casualty insurance products they want?’ and ‘How free are insurers to provide the property and casualty insurance products consumers say they want?’The Institute’s 2011 survey, released June 26, ranks Vermont highest among all states. Department of Banking Insurance, Securities & Health Care Administration Commissioner Steve Kimbell was not surprised by the ranking. ‘This premier ranking reflects the blend of common sense and professionalism that has long existed in our Insurance Division and which continues under the able leadership of Deputy Commissioner Susan Donegan,’ Kimbell said. (Read the Report Card HERE.)About HeartlandHeartland’s mission is to discover, develop, and promote free-market solutions to social and economic problems. Such solutions include parental choice in education, choice and personal responsibility in health care, market-based approaches to environmental protection, privatization of public services, and deregulation in areas where property rights and markets do a better job than government bureaucracies. Top and Bottom Ten States for Property and Casualty Insurance RegulationTop Ten Grade ScoreVermont A+ 24Ohio A+ 22Illinois A 15Maine A 13Wisconsin B+ 10Arizona B+ 8N. Dakota B+ 8Utah B+ 8Idaho B+ 7S. Carolina B+ 7Bottom Ten Grade ScoreColorado D+ -14Tennessee D -14Alaska D -15Michigan D- -16New York D- -17Massachusetts D- -18Hawaii F -22Texas F -25California F -28Florida F -35The Property & Casualty Insurance Report Card, 2011 Edition can be found online at:http://www.heartland.org/firepolicy-news.org/article/30283(link is external).
A UVM alumnus and his family have pledged $1 million to support scholarships at the University of Vermont and are challenging others to join them in continuing to build a tradition of giving at UVM.Donald “Don” H. McCree, UVM class of 1983 and his wife, Gabrielle “Gabby” McCree, started their own family’s tradition in 2006 when they established the McCree Family Scholarship Fund with a half-million-dollar gift. The fund provides annual scholarships based on financial need, academic achievement, and involvement in community service. Their goal, they said then, was to “provide an opportunity to students to attend The University of Vermont to receive an educational experience that prepares them to be leaders in their professional pursuits as well as in their communities.”The couple has now decided to double that commitment with a $1 million gift to be divided equally between their named scholarship and UVM’s general scholarship fund. The latter will serve as a challenge to attract more scholarship gifts from like-minded alumni, parents and friends of the university. Donors will be able to increase the impact of their own general scholarship giving with a match from the McCrees.”Universities are the incubators of the effective leadership the world needs, and supporting students through scholarships is a very direct way to foster that process,” said Don McCree. “Gabby and I are pleased to do our part, and we hope the university will use our gift to continue to build a tradition of giving to scholarships at UVM.”As an executive at JPMorgan Chase, Don McCree has a key role on the leadership team of an organization with assets of more than $1 trillion and operations in more than 50 countries. Gabby McCree is a graduate of Mary Baldwin College in Virginia. She teaches English at Manhattanville College and is an active volunteer in Rye, New York, where she and Don reside with their three children.Leadership has been a consistent theme in Don McCree’s life going at least as far back as his student days at UVM. He held several leadership positions while attending UVM and has been involved with a number of philanthropic boards since graduation. McCree has continued his leadership at UVM as a founding member of the UVM Foundation Board of Directors and member of its Finance and Investment Committee. The couple’s gift will be received and invested by the UVM Foundation.”We are very grateful for Don and Gabby McCree’s generous support of scholarships at the university,” said O. Richard Bundy, III, UVM’s vice president for development and alumni relations. “This gift, and its challenge component, support one of the University’s top fundraising priorities and will significantly advance the university’s effort to keep a first-rate UVM education accessible and affordable.”UVM. 10.14.2011####
Vermont farmers devastated by Tropical Storm Irene will receive much-needed disaster assistance through two important federal programs. The funding levels for both programs were agreed to by a House-Senate conference committee negotiating fiscal year 2012 funding levels for US Department of Agriculture programs. ‘Many Vermont farmers were knocked down by Tropical Storm Irene but they are characteristically fighting to get back on their feet. This funding will give them a much-needed boost,’ Welch said. ‘We were ultimately successful in our efforts because Republicans and Democrats in the House worked together to secure disaster relief. And Senator Leahy, with the strong support of Senator Sanders, delivered once again for Vermont farmers by helping secure this final agreement.’ The agreement adds $122.7 million to the USDA’s Emergency Conservation Program (ECP) and $215.9 million to the USDA’s Emergency Watershed Protection Program (EWP). Both programs are nearly out of funds with a backlog of pending applications for assistance. ECP provides emergency funding and technical assistance for farmers to rehabilitate farmland damaged by natural disasters. EWP helps farmers reduce soil erosion, enhance water supplies, improve water quality, increase wildlife habitat and reduce damages caused by floods. The program will also help property owners stabilize stream banks and clear river debris that might pose threats to their property. The deadline to apply for EWP funding related to Tropical Storm Irene damage is Friday, November 18th. A member of the House Agriculture Committee, Welch made securing these funds, along with funding for the repair of Vermont’s damaged roads and bridges, his top priorities. (To see Welch priorities memo to House leaders, CLICK HERE). Joined by Rep. Chris Gibson (R-N.Y.), Welch met with House Majority Leader Eric Cantor and others to urge the reversal of an earlier House decision to zero out these two programs. Welch also worked closely with Reps. Paul Tonko (D-N.Y.) and Bill Owens (D-N.Y.) who, along with Welch and Gibson, are co-chairs of the bipartisan House Hurricane Irene Coalition founded by Welch. Sen. Patrick Leahy (D-Vt.), the number two member of the Senate Appropriations and Agriculture Committees, ensured that both programs were funded in the Senate bill and the final conference committee agreement. The conference agreement will be voted on by the House and Senate this week.