$8.7 million Vermont economic stimulus bill focused on jobs

first_img AttachmentSize S_288_As_Passed_Senate.xls24.5 KB The Vermont House is expected to begin working next week on an $8.7 million economic stimulus bill that its Senate sponsor says will put a lot of contractors to work.The federally funded measure, which would pump money into several of the state’s economic development programs, passed the Senate on a voice vote last month (see summary attached). Governor James Douglas says he supports the legislation.The funding is available to Vermont as part of the national economic recovery package developed last year by President Barack Obama and the Democratic-controlled Congress .Senator Vincent Illuzzi (R-Essex-Orlean), the bill’s main architect, says its provisions are intended to help repair some of the damage inflicted on Vermont’s economy by the national recession. While there’s no firm estimate of the number of jobs the legislation may create or save, Illuzzi suggests that its impact will be felt in many parts of the state and by Vermonters in many industries.The largest chunk of money in the bill, $2.9 million, is earmarked for providing 10,000 unconnected Vermont homes and businesses with broadband Internet links. Access to telecommunications and broadband services is this era s equivalent to rural electrification in the 1930s, the legislation declares.An existing state fund providing seed capital for Vermont start-up businesses would receive a $1 million infusion through Illuzzi’s legislation. He notes that the fund’s managers have identified 38 Vermont firms in fields such as life sciences, agriculture and software that are together seeking $45 million in early-stage equity capital. It’s estimated that as many as 700 jobs could be created if these entrepreneurs had access to their envisioned funding.Private capital markets have not been lending in the needed amounts, Illuzzi says. The legislation notes that although Vermont banks have made dramatic increases in their commercial lending in the past year, venture capital investment remains at dramatic lows, down nearly 33 percent in the last year alone.Another $1 million in the Senate’s stimulus bill is destined for job retraining programs. The state fund that covers these initiatives is likely to run out of money this month, preventing as many as 2000 Vermonters from receiving workforce training in manufacturing, health care, telecommunications and environmental engineering.Dairy farmers are also due to be helped by the legislation. It sets aside $1 million for an agriculture credit program overseen by the Vermont Economic Development Authority. The loan money will enable farmers to refinance or consolidate their existing debt, Illuzzi says.VEDA would also get $800,000 to be used for interest-rate subsidies on loans to Addison County businesses hurt by the closure of the Champlain Bridge. Businesses can qualify on the basis of higher expenses incurred as a result of increased travel costs.The legislation provides smaller amounts of money for a variety of additional programs, including $300,000 for the Department of Tourism and Marketing for additional media buys; $100,000 in tax credits for downtown and village center businesses; $150,000 for planning work on an aviation technical training center at Burlington International Airport; $100,000 for the Vermont Film Corp; $70,000 for rural emergency medical services; and $50,000 for a neighbor-to-neighbor project administered by Area Agencies on Aging around the state.The bill now moves over to the House where it is expected to move quickly. According to House Speaker Shap Smith s office, testimony on the bill will be taken up by the House Commerce and Economic Development committee next week, which is expected to at least tweak the legislation before it moves forward.By Kevin J Kelley. Vermont Business Magazine.last_img read more

Talented young Tipp GAA stars should be allowed play both codes

first_imgFootball board secretary JJ Crowley believes what happened this year shows it is possible to allow those who are talented at both codes to represent Tipp. The county reached the All-Ireland minor hurling and football finals in September – but lost out to Galway and Kerry respectively.JJ says players shouldn’t be forced to make such hard choices at such an early stage of their intercounty careers.last_img

Helmut Rufe wants to build camp of FC Sarajevo

first_imgDelegation of football club ”Sarajevo” visited Kaiserslautern on the invitation by Helmut Rufe (FSV AG, Sports Top 5, etc), where they talked about the cooperation of FC ”Sarajevo” and German investors.President of the Assembly Adnan Hadžimuratovi, President Dino Selimović and member of College Elvir Kantaradžić represented FC Sarajevo.FC Sarajevo delegation saw the new stadium of Kaiserslautern and watched the match of their U-23 team.In the end, they concluded that Germans are interested in building a camp of FC ”Sarajevo” which has the aim to training young players since BiH has very talented players who could advance even further with the help of top class coaches.last_img

HEAVILY FAVORED TOINETTE ALL BUSINESS IN WINNING GRADE II, $200,000 GOLDIKOVA STAKES BY 2 ¼ LENGTHS UNDER PRAT

first_imgHEAVILY FAVORED TOINETTE ALL BUSINESS IN WINNING GRADE II, $200,000 GOLDIKOVA STAKES BY 2 ¼ LENGTHS UNDER PRAT; TRAINED BY DRYSDALE, 4-YEAR-OLD FILLY BY SCAT DADDY GETS MILE ON TURF IN 1:33.38 WITH THE WIN, PRAT FINISHES IN A DEAD HEAT WITH CEDILLO FOR LEADING RIDER HONORS ARCADIA, Calif. (Nov. 3, 2019)–Attentive to the early pace, heavily favored Toinette proved much the best in winning the Grade II, $200,000 Goldikova Stakes by 2 ¼ lengths Sunday at Santa Anita.  Ridden by Flavien Prat and trained by Neil Drysdale, the 4-year-old daughter of Scat Daddy got a flat mile on turf in 1:33.38.With longshot Streak of Luck bounding to the early lead, Toinette and Coach Rocks were in close attendance, with Toinette a length off the leader mid-way around the Club House turn.  Under a long hold from Prat, Toinette settled into a rhythmic stride heading to the far turn, as she continued to sit second to the outside of Coach Rocks.Three sixteenths of a mile from home, Toinette reeled in Streak of Luck and lengthened her stride turning for home en route to an impressive win with her ears pricked.“It didn’t look like there was much speed in the race, so we didn’t want to be too far behind,” said Prat who has ridden her to six of her seven victories. “As you could see, she was very comfortable and she won pretty easy today. Yes, I’m glad to hear she’s going to run next year.  I think she can be a Grade I mare.”A winner of the restricted Swingtime Stakes here on Oct. 5, Toinette was off at 2-5 in a field of six fillies and mares three and up and paid $2.80, $2.40 and $2.10.Owned by Ken Baca and Joseph and Lynne Hudson, Toinette, who is out of the Sunriver mare I Bet Toni Knows, notched her third graded stakes win and her third win from four starts this year. With the winner’s share of $120,000, she now has earnings of $488,720 and her overall mark stands at 10-7-0-1.“She’s had a late year,” said Drysdale in reference to the fact Toinette didn’t get back to the races this year until Aug. 7. “We discovered she had an infected tooth and we had to remove it. Following that, we discovered she had another pocket of infection and we had to treat that, so we had to take our time with her. She’s come around very nicely and yes, we’re hoping for things from her next year.”English-bred Simply Breathless rallied late to finish second by 1 ¼ lengths in front of Richmond Avenue. Off at 6-1 with Joel Rosario, Simply Breathless paid $3.60 and $2.60.Irish-bred Richmond Avenue, next to last a quarter mile out, was up to touch Streak of Luck by a neck and paid $3.40 to show.Fractions on the race were 22.97, 46.66, 1:10.58 and 1:22.04.Note: With the Goldikova win, Prat notched his 21st win of the 23-day Autumn Meet, finishing in a dead heat atop the jockey standings with Abel Cedillo.Live racing will resume at Santa Anita with opening day of the track’s traditional Winter Meet on Thursday, Dec. 26. For additional information, please visit santaanita.com or call (626) 574-RACE.last_img read more