As discussed previously, S.5 would create a Clean Heat Standard program, developed by the Public Utility Commission by 2025, under which fossil fuel sellers (those who initially own the fuel imported into Vermont for sale) would have to purchase tradable credits in order to sell non-highway transportation fuels. They could also earn credits through supporting […]
Impacts of Climate Change Legislation for Manufacturing and other Employers: Need for Communication and Engagement
The Legislature is either currently discussing or expected to discuss bills related to climate change that would affect the cost and supply of heating, process, and transportation fuels. As these discussions continue, it is critical that manufacturers and other companies with relatively high exposure to heating, process, or transportation costs are kept fully informed and […]
Forgiveness Application Now Available for Short Term Forgivable Loan Program
Borrowers may now apply for forgiveness for their Short Term Forgivable Loans as part of the program offered to support businesses experiencing continued working capital shortfalls as a result of the COVID-19 pandemic. Borrowers may apply for forgiveness anytime up until 12 months from the day they received their loan, as long as they meet […]
Agricultural and Forestry Trade Show Assistance | January 31 Deadlines
Trade Show Assistance Grants Agricultural and forestry businesses may apply for up to $5,000 to help mitigate the financial risks associated with exhibiting at trade shows and network with wholesale buyers. Funds may reimburse up to 50% of costs related to exhibiting and selling products at out-of-state trade shows or virtual shows targeting out-of-state buyers that […]
Slow Start to New Legislature but Significant Issues Expected; Employer Engagement will be Critical
The Legislature spent its first full week of the new session and biennium primarily receiving introductions from key legislative staff, administrative agencies and non-governmental stakeholders. However, work on legislation impacting Vermont’s employers and economy is expected to start in the coming week, and employers are strongly encouraged to contact us to provide point persons we […]
On the Wire | News and Analysis from the Web
Transforming Advanced Manufacturing Through Industry 4.0. McKinsey 6/27 “The last decade has seen companies operating under increasing levels of disruption. Quickly changing customer preferences, as well as demand uncertainty and disruptions, are challenging planning systems to unprecedented degrees. National security interests, trade barriers, and logistics disruptions are pushing businesses to find alternatives to globalized supply chains. […]
UI Tax Reductions for the Coming Year, Better than Expected Trust Fund Recovery and AIV-Led Reforms Help
The Vermont Department of Labor has announced that effective July 1, 2022, employer unemployment insurance taxes will decrease as the UI tax schedule moves from Schedule III to Schedule I. This change is part of an annual statutory calculation performed by the Department based on the Trust Fund’s reserves and historical demands. In addition, taxable […]
Survey Regarding Returning to Work After the Pandemic
In March, the Vermont Department of Labor contributed a series of questions to a statewide poll in order to learn more about the population of Vermonters that were in the labor force prior to the pandemic but have yet to return. In particular, VDOL was interested in why people have not returned. Click here for […]
On the Wire | News and Analysis from the Web
Economic Indicators. US Census Bureau 6/3 NAM Pushes for Smart SEC Cyber Rule. NAM 6/3 “The U.S. Securities and Exchange Commission has proposed a rule that would impose new cybersecurity disclosure requirements on manufacturers—and the NAM is pushing to make those requirements work better. . . .” Productivity and Costs. Bureau of Labor Statistics 6/2 […]
Potential Increases in Fossil Fuel Costs Fails in Close Veto Override Vote, But Issue Won’t Go Away
The House on Tuesday narrowly sustained the Governor’s veto of H.715, which would have directed the Public Utility Commission (PUC) to develop Clean Heat Standard rules. Under the Clean Heat Standard, sellers of heating oil, propane, kerosene, natural gas, and coal would have to reduce greenhouse gas emissions attributable to the Vermont thermal sector by […]