COUNCIL APPROVES $1.6 MILLION INCENTIVE PACKAGE FOR RENEWABLE ENERGY RESEARCH COMPANY
MONTPELIER – A firm working to develop ethanol fuel from renewable materials such as wood and switch grass has been given initial approval for $1.6 million in job creation incentives to build a research and development facility in Vermont.
At its meeting recently, the Vermont Economic Progress Council reviewed an application from Mascoma Corporation and gave initial approval under the new Vermont Employment Growth Incentive (VEGI) program, making the company eligible to receive $1,683,924 in job creation incentives if it locates in the state.
“Vermont wants to be a global leader in green energy and engineering, and produce good-paying jobs,” said Karen L. Marshall, Chair of the Vermont Economic Progress Council. “Mascoma is an innovative company that is on the cutting edge of technology to replace gasoline with a cleaner, renewable alternative.”
Mascoma Corporation, headquartered in Cambridge, Mass. currently has research and development facilities in Lebanon, N.H.
The company conducts research on enzymes, organisms, production technologies and processes that break down cellulosic raw materials and converts them to ethanol. The company has outgrown their research and development facilities and will relocate to larger facilities either in New Hampshire or Vermont.
“We are very pleased with The Vermont Economic Progress Council’s decision,” said Dr. James Flatt, Mascoma Corporation’s SVP of Research and Development. “We continue to evaluate our options, both in Vermont and New Hampshire, and appreciate the incentive that Vermont has offered Mascoma. It will be helpful as we decide where to expand our lab facilities.”
If the company decides to relocate in Vermont, site and employment plans would be finalized and Mascoma would file a final application with VEPC.
Under reforms passed by the General Assembly and signed into law by Governor Jim Douglas last year, the VEGI economic incentives were authorized based on job creation and capital investments that must occur before the company receives incentive installments over a period of years.
The previous program had companies earning tax credits that were applied against future tax liability.
The Council also gave final approval to two applications that received Initial Approval earlier this year. Green Mountain Coffee Roasters was approved for up to $1,786,828 for an expansion in Essex and Waterbury that was initially approved in May. NEHP, Inc. was approved for up to $182,396 for an expansion in Williston that was initially approved in February.
The Council approved the applications after reviewing nine guidelines and applying a rigorous cost-benefit analysis which showed that because of the economic activity that will be generated by these three projects, even after payment of the incentives the state will realize a net increase in tax revenues of $3.3 million.
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.
To date, because of the incentives offered by this program, companies have decided to grow, start-up, restart a closed plant, or relocate to Vermont and create 1,226 new jobs with an average compensation of $57,800.
That will result in a projected $55 million in new payroll, and $111.4 million in new capital investment over the next five years.
These projects will generate net new revenues for the state totaling $9.1 million that would not have occurred except for these incentives.
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.
For more information, visit:
http://www.thinkvermont.com/vepc
SBA OFFERS VETERANS, SPOUSES ‘PATRIOT EXPRESS LOANS’
MONTPELIER – The U.S. Small Business Administration’s (SBA) new Patriot Express Loan is offering a boost to Vermont’s military community, including veterans, their spouses and active-duty service members participating in the military’s Transition Assistance Program.
The Patriot Express loan features SBA’s fastest turnaround time plus enhanced guarantee and interest rate characteristics. The loan can be used for most business purposes, including start-up, expansion, equipment purchases, working capital inventory or business-occupied real-estate purchases. Interest rates are among SBA’s lowest, depending on the size and maturity of the loan.
In addition, numerous lenders around the state are showing appreciation to our veterans by providing additional incentives such as lower interest rates or the subsidy of part or all of the SBA guaranty fee.
For more information and to learn which of the participating banks are offering special loan incentives, please visit http://www.sba.gov/vt or call the Vermont District Office at 802-828-4422.
Finally, do you know someone who deserves special recognition for outstanding contributions to Vermont’s economy? If you do, please tell SBA. Nominate them for one of the following award categories:
• Small Business Person of the Year
• Small Business Exporter
• Family-Owned Small Business
• Young Entrepreneur
• Vermont Micro-enterprise
Small Business Champions: (Those who promote small business. May or may not be small business owners.)
• Financial Services Champion
• Home-Based Business Champion
• Small Business Journalist
• Women in Business Champion
• Veterans Small Business Champion
Nomination forms are available online at http://www.sba.gov/vt. To learn more, please visit the SBA Vermont District Office website or call 802-828-4422.
CHAMPLAIN COLLEGE TO OFFER COMPUTER SECURITY TRAINING
BURLINGTON – Champlain College’s Workforce Development Center has formed partnerships with the International Society of Forensic Computer Examiners (ISFCE) and the International Information Systems Security Certification Consortium, Inc. (ISC)²® and will deliver training for the internationally recognized Certified Computer Examiner (CCE) and the Certified Information Systems Security Professional (CISSP) designations.
Offered on November 5-9, the CCE Boot Camp is an intensive classroom and laboratory training course in computer forensic examinations. Professionals from a wide variety of industries and organizations who are engaged in detecting fraud are invited to register--including law firms, insurance companies, accounting firms, law enforcement, and the military. Gary Kessler, director of Champlain’s Computer & Digital Forensics Program, will provide the instruction.
The CCE Boot Camp will teach attendees how to conduct forensically sound examinations and to preserve evidence for admission and use in legal proceedings. This course helps to prepare attendees for the CCE certification exam as well. Online registration is available at http://go.champlain.edu/cce or by calling (802) 865-5471.
Offered on January 7-11, 2008, the CISSP Review Seminar will bring together IT professionals who work within a variety of companies or organizations where confidential information needs to be protected, including financial institutions, hospitals, military installations and others. The CISSP designation is considered the Gold Standard of certifications for experienced management-level information security professionals worldwide. The seminar is taken in preparation for the CISSP exam. Online registration is available at http://go.champlain.edu/cissp or by calling (802) 865-5471.
“We are thrilled to partner with these respected international organizations to bring this caliber of training to Vermont. The protection of confidential information and the need to investigate crimes digitally is especially critical to a variety of industries including healthcare, legal and financial services,” said Melissa Hersh, director of the Workforce Development Center at Champlain College.
Champlain College’s Workforce Development Center was established in January 2006 to deliver professional education and training including new master’s degrees, bachelor’s degrees, professional certificates, non-credit customized training, boot camps and industry certification. For more information about the Workforce Development Center at Champlain College, visit http://www.champlain.edu/workforce or contact Melissa Hersh at (802) 865-5402 and hersh@champlain.edu.
The International Information Systems Security Certification Consortium, Inc. (ISC)²®was founded in 1989 and has certified over 50,000 information security professionals in 129 countries. More information is available at http:/www.isc2.org.
LABOR DEPARTMENT: SEPTEMBER UNEMPLOYMENT RISES
MONTPELIER – The Vermont Department of Labor announced recently that the seasonally adjusted unemployment rate for September 2007 was 4.2 percent, up two-tenths of a point from last month and up five-tenths of a point from a year ago. The observed seasonally adjusted monthly changes in the labor force, employment and unemployment levels are not statistically significant from August values. For comparison purposes, the US seasonally adjusted unemployment rate for August was 4.7 percent, up one-tenth from August 2007.
Unemployment rates for Vermont’s 17 labor market areas ranged from 2.2 percent in Hartford to 5.1 percent in Newport. Local Labor market area unemployment rates are not seasonally adjusted. For comparison, the unadjusted unemployment rate for Vermont was 3.8 percent, up four tenths of a point from August 2007.
“Vermont’s labor force and employment levels rose in September after several months of declines,” said Patricia Moulton Powden, Commissioner of the Vermont Department of Labor. “In addition, job counts continue to grow at recent trend rates of about 0.5% annually. Although this is good news, we remain concerned about recent declines in labor force and employment in the past several months. We will be watching these measures carefully.”
Seasonally adjusted jobs grew by 600 or 0.2% from August to September, and by 2,000 or 0.7% since September of 2006. The Government State and Local sectors led the growth adding 600 jobs in September. However, caution should be exercised in interpreting these job gains as they are driven by education jobs and differing year to year education calendars can confuse the seasonal adjustment process. We will have a better look at these sectors when the October numbers are available. Healthcare and Social Assistance grew by 300 jobs.
Before seasonal adjustment, Total Non-Farm jobs grew by 7,400 jobs over August and by 1,450 or 0.5% over September of 2006. Seasonal job gains were seen and expected in Private Education & Health Services, Transportation & Warehousing, and especially State and Local Education. Seasonal declines were observed in Construction, Retail, Financial Activities, Professional & Business Services and Leisure & Hospitality. Significant annual job gains were seen in Wholesale Trade, (+150/1.9%) Financial Activities, (+100/0.8%) Professional & Business Services, (+250/1.1%) and Education &Health Services, (+650/1.2%). Annual job losses occurred in Manufacturing (-300/-0.8%) and State Government Education, (-150/-1.7%).
For more information, visit: http://www.vtlmi.info/press.htm
ONLINE MARKETING ‘BOOT CAMP’ TO BE OFFERED
BURLINGTON – Epik One, Inc., a global leader in online marketing and web analytics consulting, has reunited with Champlain College’s Workforce Development Center and Google Analytics to deliver a second Online Marketing Boot Camp.
The event offers training in web analytics, social networking and online visibility by industry experts, and follows the success of the June 2007 Online Marketing Boot Camp which had many courses filled to capacity and generated a great deal of interest for a second.
“We are excited about the positive response to the first Boot Camp and look forward to
incorporating the feedback we received to continually improve the offerings” said Dave Winslow, CEO of EpikOne.
The second Online Marketing Boot Camp will be offered November 12-16 at the brand new Courtyard Burlington Harbor, located on the Burlington, VT waterfront. Participants can register for specific day sessions, or the entire five days of boot camp.
Sessions run all day in both classroom and seminar settings and are followed by an “ask the expert” panel discussion. The boot camp is designed to help businesses stay competitive by optimizing their online presence. Classes will be taught by industry experts, including the highly-anticipated return of Kristoffer Ewald, a consultant from The Milk in Denmark. This Fall, Kristoffer will focus on industry trends and forecasting online growth.
Boot Camp Topics and tools will include: Online Business Strategies, Digital Advertising & Google AdWords, Web Metrics & Google Analytics, Usability, Testing & Website Optimizer and Web Tools, Trends & Social Media.
Registration is available online at www.ombootcamp.com or by calling toll free at (877) 772-2265.
“We are happy to support EpikOne in this endeavor,” said Brett Crosby, Senior Marketing Manager for Google Analytics. “Google products provide value to online businesses across the globe and we are supportive of efforts like this that work with people to use our products more effectively.”
EpikOne is an online marketing consultancy that delivers business strategy, web analytics, search marketing and optimization solutions for both enterprise and emerging clients around the globe.
EpikOne works with companies to increase conversions, improving marketingROI, and driving intelligent online business decisions through research and analysis, testing, and usability driven-design.
EpikOne maintains a strong alliance with Google, which includes being a Google Analytics and Website Optimizer Authorized Consultant, Google AdWords Professional Company and Google Enterprise Professional.
For more information about EpikOne, please visit http://www.epikone.com.
VERMONT CHAMBER OF COMMERCE PLANS FIRST BUSINESS SUMMIT
MONTPELIER — The Vermont Chamber of Commerce presents the first annual business summit at the statehouse highlighting five critical issues impacting businesses throughout Vermont.
Be one of our 150 business delegates to represent Vermont businesses at the event, Tuesday, December 4, 2007 at the Vermont Statehouse.
During each session, a professional facilitator will moderate the discussions on one of the following topics: Housing, Energy, Workforce Development, Transportation, and Fiscal Policy.
The goal of this summit is not to create policy, but rather, to instigate a dialogue and present a unified voice for these complex and critical issues. This is a free event which is open to both Vermont Chamber of Commerce members and non-members as a way to provide Vermont businesses the opportunity to develop awareness with business issues that affect every Vermonter.
Schedule of Events
9:00am: Registration
9:30am: Opening Comments from Governor Douglas:
The Challenge for Vermont Businesses!
12:00-1:15pm: Wrap up of Business Summit and Luncheon at the
Capital Plaza Hotel
Breakout Sessions
Sub-topics defined for discussion; Groups of around 30 individuals, engaged by a professional facilitator.
1) Housing: Are you afraid that your employees can’t find affordable housing?
2) Energy: Are your electric rates going to double by 2012?
3) Workforce Development/Education: Will there be qualified candidates to fill positions within your company?
4) Transportation: Are the bridges safe for your families and employees?
5) Fiscal Policy: Worried that you can’t afford to do business in Vermont?
To register on-line, visit http://www.vtchamber.com
CURRENT VEDA RATES:
5.75% Tax-Exempt
6.5% Taxable
Call for details: 828-JOBS |
ECO JOKE
Several business people are on the green, enjoying an afternoon round of golf, when from one of their carts a cell phone starts ringing.
One of the group runs over and grabs the phone out of the bag while the others continue putting out.
"Yes I can talk, but keep it down, I’m on the golf course," whispers the player answering the call, "You're shopping are you? That's nice."
The other players grin and continue holing out.
"You want to order a new couch? Okay. And they'll include the matching coffee table for an extra thousand? Sure, why not?"
More smiles among the foursome.
"You want to book that week on the Cape? They're holding the price at twenty-five hundred? Sounds like a bargain. You want to make it two weeks?”
Smiles become expressions of mild jealousy.
"And you want to give the re-modeler the go-ahead for the new sunroom? Seventy-five thousand if we say yes today? Sure, tell him yes."
The rest of the group are wide-eyed.
"Okay, see you later. Love you too," whispers the man, closing the phone. He holes out his putt and, then looks up and asks the others, "Whose phone is this anyway?"