Deane C Davis Award Finalists: CVPS

Vermont Business Magazine, May 01, 2004 by Tebbetts, Vicky Parra

Blacksmithing shaped by molten Yankee ingenuity: Hubbardton Forge of Castleton has capitalized on the Vermont Brand by invoking the spirit of "a tradition that is quality-focused, hardworking, individual, and even stubborn." Recognizing the power of choice in a free market, Hubbardton's philosophy supports "an ethic that nurtures continuous improvement and innovation to ensure a small American Company a place in an increasingly global market."

Reed Hampton and George Chandler founded the company in 1974 in a drafty barn in the town of Hubbardton. The mentors of the Forge were craftsmen from a fading era, and Forge founders scavenged through New England gathering genuine, albeit rusty and forsaken, tools of the trade.

Hubbardton Forge is now among the country's oldest contemporary commercial forges, committed to creating distinctive, high-quality, wrought iron lighting and accessories. One of the few lighting companies still manufacturing in the United States, artistry meets modern technology to set the standard for "handforged" pieces.

Today, nearly 200 Hubbardton Forge employees service more that 1,500 accounts, seeing a 165 percent increase in sales between the years 1997 and 2002. Chandler credits this increase with adding value to their customers' businesses through creating and delivering quality lamps, lighting fixtures, and accessories in a genuine and environmentally sound manner.

In 2003, Hubbardton Forge was honored with the prestigious Vermont Business Magazine "5x5x5" Growth Award, celebrating the top five fastest growing companies over the past five years, in each of five categories. Within the past couple of years, Hubbardton Forge has also won coveted industry design awards.

In the life of a regulated utility, growth is to be avoided; unregulated subsidiaries are given free reign to develop shareholder value through expansion. Such is the life of CVPS. The mission of CVPS reflects an effort to be the best in two worlds: provide the best electric service possible at the lowest cost, while building shareholder value through unregulated subsidiaries and partnerships.

Organized in 1929, CVPS grew from the consolidation of eight smaller electric companies. Today CVPS traces its roots to more than 100 companies, one dating back to 1858. Now CVPS is an independent, investor-owned company providing energy and energy-related services to nearly three quarters of Vermont cities and towns. CVPS is the largest of the state's facilities.

Job gains and economic growth are reflected in their subsidiaries. For instance three employees started Rutland's Home Service Store in 1999. Five years later, more than 100 new jobs have been created, even in the face of difficult economic times. Another CVPS subsidiary, Catamount Energy, focuses on wind energy development, holding interests in nearly a dozen environmentally sound power projects and generating power from wind, wood, and other renewable energy sources.

Meanwhile, efforts continue to develop a wind project in Londonderry which will pump tens of millions of dollars into the economy, as well as provide hundreds of well-paying jobs during the construction phase and through a number of permanent positions.

Recognizing the importance of jobs in Vermont, CVPS has also led in efforts to recruit new businesses to locate in Vermont, and help existing business grow. CYPS economic development incentives have helped dozens of manufacturers come to or grow in Vermont, creating nearly 2000 jobs.

CVPS is active in the community, supporting community improvement efforts through corporate giving programs, an employee grant program, and employeeinitiated service projects. In 2003, CVPS organized Rutland County's biggest ever blood drive, a food donation program, a trash collection day at the Chittenden Reservoir, and a winter coat drive.

Shareheat, a crisis fuel assistance program, has provided more than $2.2 million in assistance since 1987. The company's employee grant program directs funds to non-profits at the suggestion of employees who are involved with those organizations, while the CVPS Greenteam implements employee service projects such as downtown beautification efforts.

Individual employees are encouraged to volunteer, serving Vermont towns and people through donations of time, materials, intellectual capital, leadership, and money. All told, CVPS employees volunteer their time and energy to well over 200 non-profit organizations aimed at keeping communities strong, dean, healthy, and enjoyable.

CVPS has worked tirelessly with the Vermont Department of Fish and Wildlife to encourage environmental stewardship and partner with others to the benefit of Vermont's natural resources. These efforts include promoting responsible stewardship by the public, educating Vermonters on how to encourage and enjoy viewing backyard wildlife, improve human enjoyment of the environment, install floating loonnesting platforms at CVPS hydroelectric facilities, and restore endangered ospreys and eagles.