VEDA approves $17.1 million in commercial and ag financing

first_imgCommercial and agricultural development projects totaling $38.5 million throughout the state will receive more than $17 million in financing assistance from the Vermont Economic Development Authority (VEDA). Included in this round of approvals is more than $2 million in low-interest agricultural stimulus financing to Vermont farmers seeking immediate assistance. The Authority is making investments in projects that will add jobs in almost all sectors of Vermont s economy, said Jo Bradley, VEDA s Chief Executive Officer. As announced by Governor James Douglas and approved by the Vermont General Assembly last month, this special low-interest agricultural stimulus financing is part of up to $6 million VEDA has available for a limited time to help eligible farmers, said Bradley. The Authority was able to buy down interest rates with $1 million in federal economic stimulus funds from Vermont s share of the American Recovery and Reinvestment Act, and make these special loans through our agricultural financing program, the Vermont Agricultural Credit Corporation.Projects approved for VEDA financing are:John and Karel Underwood, Montpelier Approval of $800,000 in financing will help John and Karel Underwood purchase the Inn at Montpelier. The Inn property consists of a 19-room bed and breakfast, 10-unit apartment building, and two detached garages located on 1.2 acres in downtown Montpelier. The Underwoods, previous owners and operators of several restaurants in Cleveland, Ohio, plan to develop the function and group business side of the Inn s business. Employment at the Inn currently numbers 3.5 positions, and is expected to grow to 8 positions within three years of the $3 million project.Thetford Academy, Thetford Final approval was given for issuance of $6 million in tax-exempt industrial revenue bond financing to support a $10.8 million construction,renovation and refinance project at Thetford Academy. The project had received approval by VEDA in May, 2008, but due to subsequent changes in project scope that necessitated additional permit review, closing was delayed until this spring. Mascoma Savings and Laconia Savings Banks have agreed to participate in the project financing, which will add a new gymnasium and make major renovations of the current gym into a theater and cafeteria. The Academy s science and agriculture building also will be significantly renovated and updated. Established in 1819, Thetford Academy is Vermont s oldest continuously operating secondary school, serving students from Thetford and surrounding towns.Preci-Manufacturing, Inc., Winooski – Financing of $640,000 was approved for Preci-Manufacturing, Inc. (PMI) as part of a $1.7 million project to expand the company s manufacturing operations through construction of a 19,000 square foot addition. Located in the Highland Industrial Park in Winooski, PMI manufactures precision-machined metal components for use primarily in the defense and aerospace industries. PMI employs 103 persons, a number expected to grow to 115 within three years of the project.Durasol Awnings, Inc., Middlebury Financing of $794,000 was approved to assist Durasol Awnings, Inc. in their plans to purchase the 54,000 square foot commercial building on 18 acres where they currently lease space in Middlebury. The purchase and leasehold improvement renovations to the Geiger building on Pond Lane will help improve Durasol s efficiency in manufacturing and distribution. The Middlebury National Bank of Middlebury is also participating in the project. Durasol s Middlebury, Vermont facility, originally begun in 1976 as Otter Creek Awnings, employs 21 persons, and manufactures commercial awning products, distributing them to commercial contractors around the United States and Canada.Vermont Center for the Deaf and Hard of Hearing, Inc., Brattleboro – Preliminary approval was given for issuance of $2,853,000 in tax-exempt industrial revenue bond financing the Vermont Center for the Deaf and Hard of Hearing, Inc. to help the school make extensive energy conservation upgrades at the Brattleboro campus, and refinance 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, should final approval for project financing be secured.SBE, Inc., Barre VEDA direct financing of $1.3 million to SBE, Inc. of Barre was approved contingent on award of an $8 million Department of Energy (DOE) matching grant for which SBE, Inc. has applied. The DOE grant is associated with the Economic Recovery Act for its Electric Drive Vehicle Battery and Component Manufacturing Initiative. SBE, Inc. is a designer and manufacturer of film/foil and metalized capacitors for DC and AC applications. SBE s traditional line of capacitors, which store electricity or electrical energy, are used in virtually every electronic and electrical device made, including cellular phones, televisions, power supply and power generation units, household appliances and industrial machinery. SBE, Inc. currently employs 43 persons, a number that could grow to 176 if the DOE grant is awarded. If the grant is awarded, SBE would undertake a significant $12.3 million manufacturing expansion, involving the construction and equipping of a new 50,000 square foot facility to be located in Wilson Industrial Park in Barre.The Authority also approved:An additional $433,000 in Direct Loans to several Vermont businesses and manufacturers;A total of $3.6 million in farm ownership and operating loans through the Vermont Agricultural Credit Corporation;$343,500 for several small business development projects through the Vermont Small Business Loan Program;$197,385 through the Vermont Business Energy Conservation Loan Program to help small businesses make energy efficiency and conservation improvements; and$159,450 to finance the construction of water systems through the Drinking Water State Revolving Loan Fund.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 $1.4 billion. For more information about VEDA, visit www.veda.org(link is external) or call 802-828-5627.last_img read more

Gear of the Year: Best Outdoor Gear for 2013

first_imgClick to enlargeClick to enlarge1. Petzl Tikka XP2 HeadlampVersatile lighting options for a wide variety of conditions are essential in the backcountry, and this headlamp has it all. With one high-output LED, one red LED, five lighting modes, and a wide angle lens, the Tikka XP2 can cover up to 68 meters and provides 190 hours of lighting in economic mode. The two strobe settings are ideal for urban environments where visibility is crucial to nighttime bicycle commutes.$55; petzl.com2. Klean Kanteen Insulated 20oz mugNeed your homemade chili to keep nice and hot while you’re out shredding the slopes? Wouldn’t it be nice to have that smoothie stay cold while you’re out on a midday trail run? With this heavy duty insulated mug, you can do both. This stainless steel thermos keeps hot things hot (for up to six hours) and cold things cold (for up to 24).$30; kleankanteen.com3. Alite Monarch Butterfly ChairAfter a long day of backpacking, it’s nice to be able to get off your feet. Weighing in at 21oz, this lightweight chair lets you do just that while not having to lug around heavy, bulky alternatives. The aluminum frame balances on two legs, which allows you enough stability to sit on uneven ground and also rock forward and back. The tent-pole design breaks down to fit into a small stuff sack, so you can take it with you anywhere.$70; alitedesigns.com4. Casio PAG240 WatchAn upgrade to the Pathfinder line of watches, the PAG240 offers the same Triple Sensor functionality as the former models but is now powered by the sun. When you’re in remote locations, it helps to be able to look down at your wrist and have an altimeter, barometer, thermometer, compass, sunrise/sunset information, and the time of day literally at your fingertips in one sleek, compact design.$250; casio.com5. Sea To Summit Alpine II Sleeping BagSleeping at higher altitudes or in the dead of winter requires a bag that can provide serious warmth. The Alpine II is filled with Ultra-Dry Down™ at 850+ loft, which means you’ll be able to stay toasty at night without having to lug a bulky bag during the day. The smaller opening around the face ensures that your body heat does not escape, and the tapered box where your feet rest is designed with your foot’s natural angle in mind.$640; seatosummit.com 6. Adventure Technology HerculesMost kayakers do more than just run steep creeks or surf big waves. Most like to dabble, a little waterfall huck here, some McNastys there. If you’re a dabbler, then the Hercules is for you. Designed for the boater who spends a lot of time running rivers but likes to stop and play along the way, this versatile paddle is balanced for optimal all-around performance and is available in both carbon fiber and fiberglass. Think of it as the little black dress of kayakers.$230; atpaddles.com7. Showers Pass Refuge JacketA true do-it-all jacket, the Refuge is ideal for everything from bicycle commuting to shredding the slopes. The seam-taped, fully waterproof jacket has easy-access vents to prevent overheating, reflective trim for safe cycling on busy streets, and an adjustable hood large enough to cover any helmet. The jacket also includes an audio port in the chest pocket and a drop-down tail to protect against road spray and wet chairlifts.$279; showerspass.com8. Hobie Polarized Segundo SunglassesHobie’s high-tech lenses allows you to see all colors vividly. No more washed-out monochrome views; with the Segundo, you’ll forget you’re wearing shades.$190; hobiepolarized.com9. The A.T. GuideThru-hiker David “AWOL” Miller’s trail companion is the essential resource for any A.T. trek, whether a day hike or a thru hike. It includes mile-by-mile elevation profiles and icons indicating water, shelters, and scenic vistas, along with 72 maps of towns and resupply points.$15; theatguide.com10. GoLite Malpais Rain JacketAt a mere 6.7 ounces, this incredibly light three-layer rain shell also blocks wind and rain. Remarkably, it also breathes well, thanks to a permeable proprietary membrane. You won’t get better protection from the elements in under seven ounces. $125. The one thing that typically makes or breaks an adventure is the gear you bring (or don’t). What if you only have one opportunity to paddle that gorge or summit that peak? Do you want to spend the trip miserably wet from a faulty rain shell or completely frozen from inadequate base layers? We work hard to live for the moment, that brief period of time when the weather, the view, the smell of fresh air, the sweat on our brow, the sun on our cheeks, absolutely everything is just right. But more often than not, we find ourselves amid some not-so-perfect conditions. So when Mother Nature takes a turn for the worse, when fate deals its capricious hand, don’t slump back to base camp. Be prepared with these 16 great products that work where you need them, when you need them.Best Outdoor Gear 2013:1. Arcteryx Atom SV Hoody For temperatures and climates that demand more than a fleece mid-layer, this synthetic hoody is the way to go. Its moisture- and wind-resistant outer fabric also makes this jacket durable and warm enough for use as an outer layer. The underarm panel is designed to be breathable when you’re active, warm when you’re not.$250; arcteryx.com2. Smartwool Ridgeway HatFor those who like to hit the ski bar after a long day on the slopes, style and function are everything. This beanie has a tightly woven knit and full liner made entirely of Merino wool to keep your head warm even when the flakes start falling. The groovy stripes are sure to stand out in a sea of monochromatic melons.$40; smartwool.com3. Patagonia Capilene 3Even when your rain shell fails you and you’re drenched to the bone with half a day of hiking yet, you can count on these base layers to keep you warm. Made from a stretchy double-knit polyester fabric, both the top and bottom layers are designed with comfort in mind. Offset seams mean you can wear a pack comfortably for days without any irritation, and the Polygiene® permanent odor control will keep you feeling fresh and clean, no matter how greasy you really are.$65 top, $55 bottom; patagonia.com4. Mountain Hardwear ChockstoneFor those long days on the rock, you need pants that provide protection from any type of element. The air-permeable stretch fabric on the Chockstone has a high resistance to abrasion, but is also finished with a coat of DWR (Durable Water Repellent) to help shed moisture from light rain. This fabric also provides UPF 50 sun protection and a Micro-Chamois™ lining at the waist helps you stay comfortable when you’re in the harness for hours on end.Pant: $125; mountainhardwear.com5. Darn Tough Mountaineering SockBlizzards, freezing rain, blinding downpours: you name it, this sock can handle it. Made with extra heavy terry loop padding in the foot and shin, this beefy sock won’t wear out under pressure and provides maximum warmth. The streamlined fit and invisible seams help avoid debilitating blisters, while the fine gauge Merino wool lets your feet breathe and your socks dry fast. Did we mention these babies have a lifetime warranty?$25; darntough.com6. Marmot Ridgerock JacketWhen it’s rainy and cold, it sucks, no matter if you’re at 10,000 feet in the Alps or at 3,000 feet in the Blue Ridge. For a reliable shell that keeps you dry when you need it and lets you breathe when you don’t, check out this GORE-TEX jacket. The Angel-Wing Movement™ design doesn’t restrict your range of motion and prevents the shell from riding up your backside. It packs down to just over one pound, which is considerably light given its 100% seam-taped two-layer construction.$275; marmot.com7. MSR Hubba Hubba  When you see that storm front quickly approaching on the horizon, you want to be able to set up a shelter fast. The Hubba Hubba is the perfect solution for weight-conscious backpackers who appreciate an easy-to-assemble freestanding tent. With two doors, two large vestibules, and 40 inches of headspace, this three-season tent is great for everything, from extended alpine expeditions to car camping.$330; cascadedesigns.com/msr8. Kinivo BTH240 Bluetooth Wireless Headphones (not pictured)                                                                                                                                                                                        Kinivo’s top selling on-ear wireless headphones use an exceptional integrated rechargeable battery, which blast up to 10 hours of active audio. To recharge, simply plug the headphones into the included micro-USB charging cable and connect to your PC or wall outlet. It also provides crystal-clear conversations and hands-free calling via a built-in noise cancelling microphone – all housed in a stylishly slim, foldable design. The headphones handled trail runs and long hikes superbly—as well as the drive to and from the trailhead. $30. kinivo.com last_img read more

Poyet in frame for Royals post

first_img Poyet is one of a number of managers touted as a possible replacement for Brian McDermott, who was sacked last week. It is understood contact has been made with the 45-year-old Uruguayan, who has experience of working on the staff of a Barclays Premier League club following a spell as Juande Ramos’ assistant at Tottenham. Press Association Poyet has previously been open about his desire to coach in the top flight, although he may elect to resist any approach from Reading with his current side in the npower Championship play-off shake-up. Reading owner Anton Zingarevich is believed to be in England to finalise a new appointment, having shown McDermott the door following a recent home defeat to Aston Villa that left the club mired in the relegation zone. Paolo Di Canio and Nigel Adkins have also been linked with the vacancy, although the latter has no interest as he plots his next move following his departure from Southampton. Whoever Zingarevich opts for, the Royals still have a chance of beating the drop, according to captain Jobi McAnuff. “No one’s giving up,” the midfielder told club website readingfc.co.uk. “We’re got eight massive games left now and it doesn’t matter who we’ve got, we’ll show our pride and see if we can pick some results up. “For us it’s about believing that we’re good enough to be here. We really do believe that – we’re here on merit.” center_img Gus Poyet is the latest name on Reading’s managerial radar, with tentative talks understood to have already taken place with the Brighton boss.last_img read more

Japan 2012: Falconets Nett N2m Each for Gallantry

first_imgThe Super Falconets appear well rewarded for their feat at the FIFA U-20 World Cup in Japan, as the Nigeria Football Federation (NFF) is understood to have paid each member of the team the match bonus and allowances of $13, 400 (about N2.1million).The bonuses and allowances covered the matches won and lost at the U20 World Cup and the days spent in camp outside the country.The players and their officials returned to the country Monday.Though the U20 ladies failed to match their own standard of a second finish in Germany two years, they earned public adulation for their robust and direct approach in Japan.While in Japan, the team attracted headlines at home as the public felt the bonus the NFF was paying to the players was not enough to motivate the team.It was in reaction to public sentiment that NFF President Aminu Maigari, caused a 100 percent bonus hike for the Falconets. The approved package raised their bonus from $1000- $2000 per player.According to authoritative sources at the ‘Glass House’, Monday night the increase not only boosted the ladies, but the package was back dated to cover the two group matches played before the federation approved the package.Nigeria defeated North Korea and Italy and drew with Brazil in between those fixtures. The Falconets beat Mexico in the quarter –final only to slump to two defeats in semi final to USA and third placed match against Japan.We gathered that the total match bonus paid to the Falconets by the federation’ was about $10,000 per player, excluding the camp allowances of $3400 for the days outside the country.The allowances covered 14 days in South Korea and 20 days in Japan.last_img read more