Central Vermont economic updates

Vermont Business Magazine, Jul 01, 2004

The summer tourist' season is under way and all indications are that it is going to be a good one in spite of near record gas prices. This is good news as the ski season was fair at best. Too much bitter cold weather and rain at inopportune times. While our farmers are seeing a better price for their milk, the price of diesel, fertilizer and other supplies are taking a big bite out of the increase. Short term interest rates are expected to rise, following long term rates that have already risen, as the Fed tries to keep inflation under control. With the Legislature over for the year, campaigning for the up coming election is well under way. The Legislature made some in roads on permit reform and workers comp this past session. More needs to be done but it is a good start.

Here's a regional roundup:

Barre City: The former Rouleau Granite plant appears to be drawing a lot of interest from very qualified purchasers.

Lash Furniture recently announced that they will be closing. Their's is a prime property and should not be vacant for long. The long planned fire and police department building project is moving forward ever so slowly. Pam and Guy Trag recently purchased Quality Market from John and Kelly Gordon with assistance from CVEDC and the SBDC. Sean & Nora's restaurant has added a new deck to the front of their building for summer time eating.

Barre Town: Cabot Creamery has leased the balance of the Barre Area Development Corp incubator building, approximately 32,000 SF for dry goods storage. Rock of Ages new visitor center officially opened May 1. Vermont Butter and Cheese is moving forward with their expansion for an aged cheese facility after they were awarded a CDBG loan through the Town of Barre.

Berlin: The Connor Group has started work on the former Harry=s building to house the Vermont Lottery Commission. The Lottery Commission will take approximately 13,300 SF with 55,500 SF still available. The Central Vermont Medical Center has reapplied for a Certificate of Need for their building improvements and expansion. They expect to receive approval this summer with work to begin this fall. Unfortunately the price tag has increased significantly since they were denied a permit three years ago.

Cabot: Once Cabot Creamery's new distribution facility is completed in Montpelier Cabot will increase production in Cabot adding new jobs.

Montpelier: Riverstation Properties has been awarded a Community Development Block Grant for their Barre Street Housing project. Fifty two units at the site of the Desilets Granite business. The Connor Group continues to work with the Pyralisk Arts to develop their property on Stone Cutters Way. VEDA has committed to purchasing a condominium at the site for their offices and Conner will have 10,000 SF of office space available for lease. Walker Motors has resumed construction on their expansion following a winter hiatus. Pat Malone's project for Cabot Creamery's distribution facility is nearing completion.

The Vermont

Mountaineers are the recipients of a $500,000 anonymous grant for improvements to the ball park on Elm Street. Some of the work was completed prior to the season opener and more will be done following the end of the season. They have put together an outstanding roster for the coming season and everyone is excited about their prospects. As a result of their outstanding season last year they have been awarded the NECBL all star game this year that should bring a record crowd to the ball park.

Northfield: The "Gray building" is under going a major renovation which is nice to see.

Barry Chouinard has moved the Montpelier portion of his business back to Northfield in the Nantana Mill building.

Moretown: Check out the new home of ST Paving. They moved from Waterbury to make room for the new GMCR distribution center.

Waterbury: Logic Supply an internet computer supply business has moved from Massachusetts to the former Green Mountain Chocolate building. Ion Science an importer of gas detection devices for first responders is looking at expanding. Pilgrims Partners are nearing completion of the 65,000 SF distribution center for Green Mountain Coffee Roasters. Upon completion GMCR will expand production in their existing facility. Will Shaw's (Albertsons) start construction of a new grocery store this year? No one seems to know at this time.