$36.4 million in business financing approved by VEDA

first_img-30- The Vermont Economic Development Authority (VEDA) has approved $36.4 million in economic development financing assistance for a variety of large and small business projects. The financing support will leverage additional private investment, generating a total of $104.6 million in economic activity throughout Vermont.“VEDA is pleased to offer loan and other financing support to a number of commercial, renewable energy, small business, educational and agricultural initiatives,” said Jo Bradley, VEDA’s Chief Executive Officer. “These projects will bring jobs to Vermonters, and help stimulate Vermont’s economy.”Utilizing American Recovery and Reinvestment Act (ARRA) federal stimulus funds, VEDA approved the following Recovery Zone Facility Bond issuance:· Green Mountain Power, Colchester – Green Mountain Power received final approval for $25 million in Recovery Zone Facility Bond (RZF) financing support from VEDA. The special facility bonds, which received preliminary approval from VEDA in January, utilize federal tax exemptions provided through the American Recovery and Reinvestment Act. Green Mountain Power also received final Authority approval for an additional $5 million in taxable bonds to support expenditures planned for the following year. Green Mountain Power plans over the next two years to undertake numerous large capital projects throughout Chittenden, Addison, Caledonia, Washington, Windham, and Windsor counties. Projects include substation upgrades, renewable energy deployment, hydro-dam refurbishing, and reliability and transmission projects. Total project costs are anticipated to be $31.7 million in 2010, and an additional $46.6 million in capital expenditures in 2011. Green Mountain Power serves 122 Vermont communities across nine counties in the state. The electric utility employs 191 persons, a number expected to grow modestly within three years, due in part to these projects.Other bond financing approved by VEDA:· Vermont Center for the Deaf and Hard of Hearing, Inc., Brattleboro – Final approval was given for issuance of $3 million in tax-exempt industrial revenue bond financing to support the Vermont Center for the Deaf and Hard of Hearing’s extensive energy conservation upgrades at the Brattleboro campus, and their refinance of existing debt from prior renovations. Originally established in 1904 as the Austine School, the Vermont Center for the Deaf and Hard of Hearing, Inc. now provides comprehensive educational and support services through several programs to deaf and hard of hearing children, adults, and families throughout Vermont and surrounding states. The school’s campus consists of multiple school and dormitory buildings on approximately 174 acres of land. The school employs 201 persons, a number expected to grow to 229 within three years of the project.Among the projects approved by VEDA to receive direct loan assistance:· Vermont Biomass Energy Company, Island Pond – Financing of $1.3 million was approved to the Vermont Biomass Energy Company to support the planned construction and operation of a wood pellet manufacturing facility in Island Pond. The $18.8 million project will convert the 80,000 square foot former Ethan Allen furniture manufacturing facility in Island Pond into a production plant. Community National Bank has approved a $10 million loan for the project, to be secured by a USDA Rural Development guarantee. In addition, the Township of Brighton will be submitting an application for $1 million in Community Development Block Grant (CDBG) funding for the project. Employment projections at the new manufacturing plant over three years are 34 jobs, with estimates that another 120 indirect jobs may be created as a result of the project.· Sugarsnap, Burlington – Financing of $75,000 was approved to support the expansion plans of Sugarsnap, a small fresh food farm and retail operation located on Riverside Avenue in Burlington. Opportunities Credit Union is also participating in the project, which will enable Sugarsnap to develop and outfit a production kitchen and office to serve additional retail locations planned within the next several years. Sugarsnap employs 7 persons, a number expected to grow to 21 within three years of the project.· Flex-A-Seal, Essex Junction – VEDA approved a $51,176 loan as part of a $127,939 machinery and equipment acquisition project at Flex-A-Seal, Inc.  The project will enable the company to grow their operations as producers and assemblers of different types of mechanical sealing products. Flex-A-Seal employs 54, a number expected to increase to 63 jobs within three years of the project.Through the Authority’s new Technology Loan Program, designed to assist smaller technology-related firms, VEDA approved $31,500 to Computer Care in Colchester to help the business expand their market area, purchase equipment, and hire additional employees.In addition, VEDA approved:· $1.2 million in financing to Vermont farmers through the Authority’s agricultural loan program, the Vermont Agricultural Credit Corporation (VACC); and· $719,396 to support small business development projects through the Vermont Small Business Loan Program.VEDA’s mission is to promote economic prosperity in Vermont by providing financial assistance to eligible businesses, including manufacturing, agricultural, and travel and tourism enterprises. Since its inception in 1974, VEDA has made financing commitments totaling over $1.5 billion. For more information about VEDA, visit www.veda.org(link is external) or call 802-828-5627.Source: VEDA. 3.9.2010last_img read more

Wolf Administration Continues Efforts to Address PFAS Contamination

first_img August 22, 2019 Wolf Administration Continues Efforts to Address PFAS Contamination Press Release,  Public Health Horsham, PA – Today, Governor Tom Wolf was joined by Representative Todd Stephens and Representative Meghan Schroeder to announce new funding to help address PFAS contamination in Horsham, Warminster, Warrington, and Warwick townships.“Republican or Democrat, senator or representative, every elected official understands that clean drinking water is a critical issue,” Gov. Wolf said. “We all want Pennsylvanians to live the happiest, healthiest lives possible and today I am proud to be here to help lessen a burden for these communities that residents did not cause.”In addition, the governor renewed his call for the United States Environmental Protection Agency to establish an enforceable, nationwide drinking water standard for PFAS under the Safe Drinking Water Act.“The federal government played a big role in causing these issues and they should be stepping up in a much bigger way,” Gov. Wolf said. “We need the White House and Congress to get serious about addressing this issue.”Flanked by state and local leadership, the governor announced a $3.8 million grant to support water treatment efforts in Horsham, Warminster, Warrington, and Warwick townships. This new funding will help bolster the funding awarded over the past few years to help Warminster and Warrington address contamination, and to install the carbon filters in Horsham.“Horsham residents shouldn’t have to bear the costs of removing the federal government’s contamination from our drinking water,” said State Representative Todd Stephens. “Working together with Governor Wolf, we’ve been able to provide funds to eliminate the unfair surcharges Horsham residents have been paying to ensure their water is safe to drink.”“For years, our residents in Warminster have absorbed the cost of purchasing clean water due to the federal government’s inability to clean up its own mess. With this state funding, we will finally be able to alleviate the surcharge for this water from our ratepayers. As Warwick Township deals with similar contamination issues, we will work to ensure that this funding will assist them with needed infrastructure improvements,” said State Representative Meghan Schroeder.Perfluoroalkyl and polyfluoroalkyl substances – PFAS – are man-made chemicals resistant to heat, water and oil, and persist in the environment and the human body. PFAS are not found naturally in the environment. They have been used to make cookware, carpets, clothing, fabrics for furniture, paper packaging for food, and other materials that are resistant to water, grease, or stains. They are also used in firefighting foams and in a number of industrial processes.In September 2018, Governor Wolf announced the establishment of a multi-agency PFAS Action Team and other executive actions to address growing national concerns surrounding PFAS. The PFAS Action Team places Pennsylvania at the forefront of states taking proactive action to address PFAS and other water contaminants.“I would like to thank the local officials for the steps they’ve taken to address the PFAS contamination in Horsham, Warminster, Warrington, and Warwick townships,” said Gov. Wolf. “We’re here in Horsham today, but we know PFAS was likely used at other airports, military bases, and manufacturing facilities, and I am committed to identifying those locations and supporting any necessary cleanup so today’s residents don’t have to bear a costly burden of the past.”In June, the Department of Environmental Protection began a statewide sampling plan to identify PFAS-impacted drinking water. Preliminary results from the sampling will be released in the fall. Additionally, the Department of Health has hired a state toxicologist, and the Department of Environmental Protection is finalizing a contract for specialized toxicology services to move forward with setting a state limit for PFAS in drinking water to establish a cleanup plan that will result in every Pennsylvanian having water free from PFAS contamination.center_img SHARE Email Facebook Twitterlast_img read more

Trophy Stall on board 2017 Limacol round-robin football

first_imgFOOTBALL action in the 2017 Limacol round-robin knock-out received a boost yesterday when the proprietor of Trophy Stall, Ramesh Sunich, donated the first-place trophy and goal nets.The Petra-organised tournament begins on January 23. Sunich praised the organising body for the efforts to elevate the sport, hence his donation to the cause.Receiving the trophy, co-Director of Petra Organisation, Troy Mendonca, added that the tournament helps to showcase the talent in teams that are not in the elite, with the aim of allowing them to hopefully elevate themselves in the future.Meanwhile the tournament’s first playing date is January 23 with Group D action when Police play Mahaica and Riddim Squad oppose Camptown. Both games will be played at the GFC ground, Bourda.Action returns on January 27 when Group B’s Western Tigers play New Amsterdam United at GFC and Group C’s Santos oppose Ann’s Grove.The following evening will see action at the Mackenzie Sports Club ground as Milerock play Northern Rangers and Winners Connection play Grove HiTech in Group A.last_img read more