first_imgThe Vermont Economic Progress Council authorized $8.3 million in incentives under the Vermont Employment Growth Incentive (VEGI) program in 2011, which will encourage the creation of 988 new jobs in Vermont. The Vermont Economic Progress Council met throughout the year to review and authorize the incentives. No incentives are paid when the companies are authorized. The authorization means that the companies met statutory requirements to be authorized to earn a certain level of incentives. Overall, these projects will create 988 new jobs and about $40 million in new payroll for Vermonters, and the companies will make $302 million in capital investments in Vermont, between 2011and 2015. The jobs must be new, full-time, permanent, non-owners, and pay more than 160 percent of the Vermont Minimum Wage (about $13.04/hour) and provide benefits.  ‘In the end, there are well-paying jobs with benefits for Vermonters, there is investment in new facilities and machinery and equipment to keep Vermonters competitive, and there is $8 million in new tax revenues to support other state programs,’ said Lawrence Miller, Vermont’s secretary of Commerce and Community Development. To earn the incentives, authorized companies must meet payroll, employment and capital investment performance requirements each year between 2011 and 2015. If earned, the incentives would pay out to the companies over nine years between 2012 and 2020, only if the performance requirements are maintained. The Council approved the applications after reviewing nine ‘quality control’ program guidelines and applying a rigorous cost-benefit analysis that calculates the level of new tax revenue a project will generate for the state. The model estimates that the economic activity approved will generate $7.7 million in new tax revenue, even after payment of the incentives.The Council also determined that these projects would not occur or would occur in a significantly different and less desirable manner (the ‘but for’ test) if not for the incentives being authorized. ‘We determined that these projects would not have occurred in Vermont or would have occurred in a way that generated far fewer tax dollars,’ said Stephan Morse, VEPC Chairman. ‘Instead, the projects will occur and if the companies meet their performance requirements, they will generate enough new tax revenue to the state to pay the incentives that are earned and still generate almost $8 million in new tax revenue for Vermont.’ Included in the $8.3 million authorized were incentives totaling about $1.7 million in ‘Green’ VEGI incentives for companies that will create jobs in environmental technology sectors. These companies plan to develop and produce recyclable or biodegradable containers, develop and operate an integrated energy/food production facility; produce energy efficient turbo-machinery, and build a wind testing facility. The following is a list of those companies authorized for VEGI incentives in 2011: NAME                                                                        LOCATION                           AMOUNTALPLA, Inc                                                    Essex                                        $654,438Bariatrix Nutrition Corp                                 Georgia                                     $135,653eCorporate English, Ltd                                 Middlebury                               $464,731WCW, Inc.                                                      Manchester                               $512,449Vermont Smoke and Cure                              Hinesburg                                 $156,913Carbon Harvest Energy                                  Burlington, Brattleboro            $568,913Concepts NREC                                             Wilder                                       $290,335SOH Wind Engineering, LLC                        Williston                                   $153,995Green Mountain Coffee Roasters                   Essex                                     $4,696,809Ellison Surface Technologies, Inc.                  Rutland                                     $688,462Total:                                                                                                             $8,322,698 The Vermont Economic Progress Council is an independent board consisting of nine Vermont citizens appointed by the governor, and two members appointed by the House of Representatives and the Senate, 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://thinkvermont.com/Programs/VEPC/tabid/124/default.aspx(link is external) VEPC 12.21.2011last_img read more


first_imgA NEW WORLD RECORD by Joyciline Jepkosgei!! I predicted a world record for the women 10km road race; it happened about 30 minutes later!! pic.twitter.com/Gs5eLdf6UT— Justin Lagat (@Kenyanathlete) September 9, 2017“I’m so happy, I thank God for making me the winner today and… (breaking) the world record,” Jepkosgei told Czech Television.“I was very confident and I was hoping for the best,” she added, after beating compatriot Fancy Chemutai and Kenyan-born Bahrain runner Violah Jepchumba in Prague’s historic centre.Kenyans also dominated the men’s race, with Benard Kimeli taking the honours in 27min 10sec, beating his brother Matthew and fellow Kenyan Rhonex Kipruto.Share on: WhatsApp Congratulations Joyciline Jepkosgei for breaking the world 10km record at the 2017 Birell Prague Grand Prix. You have done our country proud— Uhuru Kenyatta (@UKenyatta) September 9, 2017 Prague, Czech Republic | AFP | Kenya’s Joyciline Jepkosgei became the first woman ever to run 10 kilometres on the road in under half an hour after clocking 29min 43sec in Prague on Saturday.The 23-year-old Kenyan, who set the world half marathon record in the Czech capital in April, beat her own record of 30min 04sec she had set during that race.last_img read more