Business & Economy

Vermont jobless rate ticks up for fourth straight month

July Jobs SLIDER

While the national rate declined to 5.9 percent, Vermont’s unemployment rate edged up to 4.4 percent in September. The state’s national ranking slipped to eighth nationwide, behind New Hampshire.

AG settles with board of Upper Valley nonprofit

The board of Emerge Family Advocates on Monday agreed to resign as part of a settlement with Attorney General Bill Sorrell’s office after it filed suit against the board for failing to keep watch over Emerge’s finances, Sorrell’s office said. The settlement also provides for a new board to be appointed as soon as possible […]

Lars Torres to leave Office of Creative Economy

Lars Torres will depart the state’s Office of the Creative Economy on Oct. 24. He’ll take over as executive director of Generator, a combination artist studio, classroom and business incubator in Burlington. Torres has led the Office of the Creative Economy since March 2013. Before taking the job, he opened Local 64, a coworking space […]

GlobalFoundries to keep IBM plant in Essex going

Gov. Peter Shumlin holds up a cell phone to emphasize the viability of the semi-conductor manufacturing business that takes place in Essex Junction. IBM announced Monday it would sell the division to California-based, Abu Dhabi-owned GlobalFoundries. Photo by Hilary Niles/VTDigger

IBM will pay GlobalFoundries $1.3 billion over three years to take its semiconductor manufacturing wing. The new owner says Vermont employees will keep their jobs.

IBM to make announcement this morning about GlobalFoundries deal

Rudy_IBM Tour08 (2)

IBM will pay GlobalFoundries $1.5 billion to take over its microelectronics unit, which includes the chip making plant in Essex Junction. IBM employs about 4,000 people in Vermont.

‘New Economy’ movement finds fertile ground in Vermont

Marjorie Kelly (center) moderated a panel discussion Wednesday among (left to right): Gwen Hallsmith of the Public Banking Institute; Paul Millman of Chroma Technology; Rich Carpenter of the Addison County Relocalization Network; and Kathy Ruhf of Land for Good. Photo by Hilary Niles/VTDigger

Instead of assuming the value of limitless, money-driven growth, the new economy paradigm promotes careful choices about when and how — or even whether businesses and the economy should get bigger. When ownership is local, the impact of those decisions is more likely to benefit communities, proponents argue.

Ello entrepreneur committed to Vermont

Ello screen shot

Paul Budnitz, the founder of the social media phenomenon Ello, says he will expand the company in Vermont, and he says that with the right branding the state could see more and more stories like his popping up in national headlines.

Keurig Green Mountain cleared in federal probe

Keurig Green Mountain, Inc., announced Friday that the U.S. Securities and Exchange Commission had closed a four-year investigation into the company’s bookkeeping. No charges were filed, and the Waterbury-based coffee and beverage company faces no enforcement actions. The firm had been under scrutiny for improper accounting and disclosures, after hedge fund manager David Einhorn publicly questioned […]

FairPoint workers picket on first day of strike

Dennis Barr (left), Lisa LeFebvre-Barr and Matt Orr picket outside FairPoint Communication's central office in Montpelier on Friday, joined by LeFebvre-Barr's mutt Spike. The three are going without pay to protest the company's imposed compensation package. Photo by Hilary Niles/VTDigger.org

Pension and health care changes are the core of the dispute between the company and the unions representing about 1,700 workers in Northern New England. FairPoint says customers will experience no interruption in service, but workers say installations and repairs will suffer.

Vermont earns ‘C’ for infrastructure quality

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An infrastructure “report card” issued by the American Society of Civil Engineers showed modest improvement since 2011, thanks mainly to a post-Irene influx of federal funds. That trend will be tough to maintain, state officials say, in the current national political climate.

Economic development groups bid for Entergy funds

Vermont Yankee nuclear power plant, Feb. 21, 2010

Brattleboro Development Credit Corp. and Southeastern Vermont Economic Development Strategies are seeking $300,000 of the $2 million provided by Entergy to offset the impact of Vermont Yankee closing.

FairPoint strike decision expected this week

FairPoint employees, currently working without a contract, expect to decide late this week whether to go on strike. New England chapters of the International Brotherhood of Electrical Workers and Communication Workers of America authorized a strike in July, but have yet to walk out. Their contracts expired Aug. 2. In a message to union members Wednesday, […]

Auditor slams state’s failure to track social service contracts  

State Auditor Doug Hoffer. Photo by Roger Crowley/for VTDigger

Doug Hoffer says the Agency of Human Services doesn’t always compare contractual requirements with services actually delivered by nonprofit contractors. As a result, he says, “the state cannot ensure that clients are receiving the services they need and the public is paying for.”

Attorney General drafts GMO labeling rules

The state Attorney General’s Office has released its proposed rules to enforce Vermont’s first-in-the-nation law requiring the labeling of foods containing genetically engineered ingredients. The rules, announced Wednesday, will be the subject of three open meetings later this month. Certain food products with genetically modified ingredients not exempt under the law must have a “clear […]

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