The Vermont economy could get a big boost from an economic stimulus package passed by the Vermont Senate. The bill allocates $8.6 million to help create more than 1000 new jobs across the state. The measure also includes funds to help dairy farmers refinance some of their outstanding loans. From the very beginning of the session, legislative leaders and Governor Jim Douglas identified job creation as one of their top priorities.  This is the bill that delivers on many of those promises. It's funded with just over $8.5 million of special federal economic stimulus money.

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LEDdynamics hired a new employee this week – and they hope to hire more. Despite the economic downturn, this Randolph business, a national leader in energy efficient LED lighting technology, is growing. In part, they credit their success to marketing efforts funded with Recovery Act dollars. Through a $65,000 USDA Rural Development Rural Business Enterprise Grant backed with American Recovery and Reinvestment Act funds, the Randolph Area Community Development Corporation (RACDC) was able to finance marketing services and technical assistance for two Randolph companies - LEDdynamics and the Randolph Farm Stand.

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U.S. Agriculture Secretary Tom Vilsack told struggling dairy farmers Saturday that the USDA is committed to making milk prices more stable and helping to create regional food systems linking farmers with local consumers. Farmers, who last year endured the lowest milk prices in 40 years, urged Vilsack to act now, or risk losing more farms. The average farmer has lost $100,000 and 50 Vermont dairy farms have gone out of business in the last year, said Sen. Bernie Sanders, I-Vt., who asked Vilsack to visit.

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A plan to save $38 million by changing the way state government does business passed easily Tuesday in the Senate, even as supporters acknowledged the hard part is ahead, and critics questioned whether it was merely masquerading cuts to services. “I’ve heard we’ve done this before and it’s impossible to achieve these savings in the time allowed,” Sen. Diane Snelling, R-Chittenden, said in pitching the idea to her fellow senators Tuesday. “It is possible, because they’ve done it in other states."

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The city of South Burlington has won a designation that could help finance a downtown development. The Vermont Downtown Board has approved the city's application as a New Town Center. The designation is a step toward the establishment of a multi-story downtown area on undeveloped lands around Market Street, across from University Mall. Board Chairman Kevin Dorn says the city can now apply to make the area a Tax Increment Financing District. That would allow the town to keep some education property tax dollars generated by the development and use them to build infrastructure.

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Although his office is still plowing through the new federal budget proposed by President Barack Obama there is one area in which it will be good for Vermont, U.S. Sen. Patrick Leahy said: organic farming. The proposed $3.8 trillion budget would add money for more inspectors of organic agricultural products.

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As President Barack Obama unveiled details Monday of his $3.8 trillion budget proposal that would include jobs programs, leaders of Vermont nonprofits said the president's economic stimulus package in 2009 bolstered their services and added jobs.

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A start-up solar panel manufacturer; a homegrown internet marketing firm; and an industrial pump manufacturer have been authorized to earn more than $12.5 million worth of state job creation incentives. A fourth firm's application was denied. Governor Douglas and legislative leaders recently increased the amount of money available for incentives, thus allowing incentive levels to reach all three companies. The companies, if they grow in or locate in Vermont, could create 815 new jobs over the next five years, according to officials with the Vermont Economic Progress Council, which authorized the incentives on Thursday.

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The Senate Economic Development, Housing and General Affairs Committee will hold public hearings in Burlington and Rutland to hear from people about how to replenish the state's unemployment trust fund and other issues.

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What does it take for someone who's interesting in farming to get their business off the ground in Vermont? Over its five-year lifetime, the Rutland Area Food and Farm Link has informally considered this question as it has helped young farmers establish relationships with their more experienced peers, directed retailers searching for local products to area growers, and sought out space for an incubator farm.

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After a stunning display of bipartisanship in Montpelier last week, a majority of Republicans and Democrats came together again to advocate a plan to raise the annual cap for statewide agencies that give breaks to Vermont businesses.

Gov. James Douglas is supporting a move that would increase the yearly cap on job-creation initiatives from its current level of $10 million up to $25 million for the Vermont Economic Growth Incentive (VEGI) from its managing program, the Vermont Economic Progress Council (VEPC).

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Hannaford Supermarket is becoming the first major retail chain to back a program designed to help New England's troubled dairy farmers make more money and stay in business. Massachusetts Department of Agricultural Resources Commissioner Scott Soares is set to announce Tuesday that Hannaford will stock locally produced milk and dairy products branded with a special "Keep Local Farms" logo.

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The University of Vermont Center for Rural Studies (CRS) is happy to announce that it will be engaging in multiple projects benefiting communities, entrepreneurs and local decision-makers in Vermont with funds secured by Sen. Patrick Leahy (D-Vt.). Project work by CRS staff and partner organizations will address program goals in the study of local and regional food system issues, community problem-solving, entrepreneurship assistance, and community-level information resources for Vermonters.

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Fran Azur grew up in Newport but made his fortune, as did his wife Melanie Gefert, in the home financing business. “Our previous Company, ATM Corporation of America, which we incorporated as an LLC in 1993, provided mortgage related settlement services nationally, and consulted with major lenders such as Citigroup, E Trade, Countrywide, Navy Federal Credit Union, Equifax, GMAC and others, to build their captive national settlement service companies, with whom we also partnered and provided technology capabilities,” said Gefert.

In August of 2007 the Azurs sold the Company to Fidelity, the largest title underwriter in the nation for $100 million. The couple has not retired and they remain committed entrepreneurs.

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The US Department of Agriculture today detailed plans to distribute $290 million to struggling dairy farmers. The assistance is part of a $350 million dairy assistance measure Congress approved at the request of Sen. Bernie Sanders (I-Vt.).

The measure that provides $290 million for direct support to dairy farmers will result in a payment of about $8,000 to the typical Vermont farmer. Another $60 million was set aside nationwide to purchase cheese for food banks and nutrition programs. Link to full article