Two start-up companies approved for $230,000 in job creation incentives

first_imgTwo start-up companies, one a sales firm and the other a wood products manufacturer with plans to reopen the shuttered Stanley Tool Plant in Pittsfield, have been authorized to earn up to $230,094 in Vermont Employment Growth Incentives. The one firm would re-start the former Stanley Tool plant in Pittsfield.The companies, if they grow in or locate in Vermont, could create 41 new jobs over the next five years, according to officials with the Vermont Economic Progress Council, which authorized the incentives late last week.The Original Vermont Wood Products, Inc. was authorized to earn incentives totaling $100,604. The start-up company plans to re-start production at the former Stanley Tool plant in Pittsfield and bring most of the Stanley employees back to work.They would lease the plant and equipment and make wood component parts for other customers. They also plan a new line of custom post caps, trellises, pergolas and wood sheds.    The Stanley Plant closed in 2008, bringing unemployment in Pittsfield to one of the highest levels in the state. The area also has low average income levels and the plant is the only production facility in the area and is a major source of property tax revenue for the town.These factors allowed the Council to consider an enhanced level of incentives for the project under state law. The Council took into consideration the economic condition of the region and the impact of the Stanley plant closing on the residents of Pittsford and authorized the maximum allowable level of incentives, said Karen Marshall, VEPC Chairwoman. We elected to support this start-up to the fullest extent possible because of the potential benefit to area residents, which would also reduce the demand on state and local public assistance programs.The company hopes to start hiring immediately and begin production this summer. We are very grateful for this early vote of confidence from the Vermont Economic Progress Council, said Gary Springfield, president of The Original Vermont Wood Products, Inc. We are hoping to re-open the former Stanley plant as soon as possible and put local residents back to work there producing high quality wood products.A new company that would be established in Vermont by entrepreneurs Chris Foran and Gregory Dunne was given initial authorization to earn up to $129,490. The new company would provide inside sales services to their existing company, Mansfield Sales Partners, Inc. of Woburn, Massachusetts, and other existing and new clients.Mansfield Sales partners, Inc. is a sales consulting firm that helps small and medium size companies increase revenue by building up their sales pipeline, penetrating new markets, and opening new territories. The new company would provide lead generation services to the senior sales consultants at Mansfield and provide similar services for other clients. They plan to lease a facility in Chittenden County and begin operations in late 2010. Source: Commerce Agency. 6.1.2010 We are excited to be working with the state of Vermont on this start-up project as a part of our overall growth plans, said Chris Foran, President of Mansfield Sales Partners.  Locating the business in Chittenden County will provide us with access to a high quality work force for these new positions and is a great area to locate this new business.Under reforms proposed by Governor Jim Douglas in 2006 and passed by the General Assembly, the VEGI economic incentives are authorized based on potential job creation and capital investments that must occur before the company earns the incentives and then the company receives incentive installments over a period of years.The companies are eligible to earn the job creation incentives only if they meet and maintain payroll, employment and capital investment targets each year. Overall, these projects could create 41 new full-time jobs and $1.4 million in new payroll over five years.The Council approved the applications after reviewing nine program guidelines and applying a rigorous cost-benefit analysis which showed that because of the economic activity that will be generated by these projects, even after payment of the incentives the State will realize a minimum net increase in tax revenues of $68,000.The Council also determined that these projects would not occur or would occur in a significantly different and less desirable manner if not for the incentives being authorized, the but for test.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: is external)last_img read more

Regional Officials Warn that Illegal Migration from Brazil Could Increase COVID…

first_img“That is a dangerous situation,” he said, adding that he has since raised the matter with the local Toshaos. “They are 23 new cases in the region, that in addition to the 18 we had before. Of those 18, four have recovered and one died, so that is 23 and 13 active cases that we now have.” Parker said. Regional Executive Officer of Region 9, Carl Parker, said there have been 36 active COVID cases, all of being imported. But he made it clear that no resident of Lethem in Region 9 has been diagnosed with the virus and that the cases were imported from neighbouring Brazil. “Despite all the pleading, begging and information out there, persons are still not adhering to the safety guidelines,” Parker stated. “Persons are still coming across the border and when they reach the villages, residents are hiding them, so when the team shows up, they are told that they are no persons from the border. Community leaders have been called on to ensure residents are adhering to the health guidelines.center_img GEORGETOWN, Guyana – A senior regional official in Guyana says the coronavirus (COVID-19) situation in Region 9 of the country has become a challenge as a result of the increased number of illegal travel from Brazil. Staff conduct disinfection at Congonhas Airport in Sao Paulo, Brazil, June 16, 2020 (Xinhua/Rahel Patrasso) Guyana has recorded 389 cases of the virus with 20 deaths. Brazil is one of the countries in the world with a high number of deaths associated with the virus. As of July 28, Brazil recorded some 2,455,905 COVID-19 cases and 88,000 deaths. “But now we know persons are coming from the border. Those cases did not come from Lethem, we have no reports of anyone in Lethem with COVID, everything is from across Brazil,” Parker said, warning that the practice of harbouring migrants threatens local communities with the spread of COVID-19. CMClast_img read more

Jon Tricker – KPMG – Gibraltar stakeholders united in tackling Brexit impacts

first_img Share Related Articles EU research agency demands urgent action on loot box consumer safeguards July 29, 2020 Liverpool FC in agency dispute over £15m BetVictor sponsorship June 9, 2020 Senet Australia appoints Paul Newsom as new client advisory lead  August 27, 2020 Submit Share StumbleUpon Jon TrickerGibraltar’s eGaming operators are not being browbeaten by Brexit says Jon Tricker, Managing Director KPMG Gibraltar, as he assesses the outlook for the Gibraltar eGaming industry following the Gibraltar eSummit last March.________________________It’s difficult for any outlook on Gibraltar’s future not to be dominated by reference to Brexit but it’s also surprising how, in just a few months, talk has already turned from initial fears and concerns to a positive and united sense of purpose on how the jurisdiction can seize opportunities to enhance and expand its proposition in the face of a rapidly changing landscape.There was certainly no indication that Gibraltar’s eGaming sector is going to lie down and blithely accept a fate it has had no hand in creating at the recent KPMG Gibraltar eGaming summit.As moderator of a panel discussion with three senior Gibraltar gaming lawyers – Peter Howitt from Ramparts, Peter Montegriffo from Hassans and Peter Isola from Isolas – it was clear to me that not only are operators in the sector on the front foot, but the jurisdiction is coming together to visualise its own post-Brexit future.This pro-active stance has been driven in part by a resurgence in business – ironically Gibraltar has been busier than ever since the referendum last June, not just in eGaming but across the board including in financial services. Whilst, as Peter Montegriffo said, it has “defied our own perception of how we thought a vote of this type might play out in Gibraltar”, all three experts point to strong relationships between government regulators and business as well as the political stability and support of key industries as a factor in Gibraltar’s continued attractiveness.“Gibraltar has got an ability to keep looking outwards and encouraging innovation in sectors which aren’t mainstream, where you do need the Government and the regulator and the industry to pull together,” explained Peter Howitt.Engagement between the Gibraltar Government and its UK counterpart on forthcoming Brexit negotiations was reported to be “unparalleled” with Peter Montegriffo identifying Gibraltar’s three main priorities as a free-flowing frontier, access to the EU market (although this less relevant in the eGaming industry) and an enhanced relationship with the UK.While the summit took place before news of a possible Spanish veto on a post Brexit agreement applying automatically to Gibraltar, future relations with its northerly neighbour were clearly a major concern for all attendees given that up to 10,000 people cross from Spain every day to work in the territory. A poll of delegates during the session also identified this as being the most important factor for Gibraltar operators at the current time.Peter Isola suggested that any restrictions imposed on the border would damage Spain’s economy as much as Gibraltar and therefore fears may be overblown. In relation to the position of EU workers post Brexit, Peter Montegriffo pointed to Gibraltar’s historic embrace of external expertise. “We wouldn’t have grown the eGaming industry here, even less a fiduciary sector, if we hadn’t welcomed external expertise,” he said. But while he felt that “accommodating attitude would prevail”, it was important to identify sectors which would “leverage the existing expertise” to create new opportunities.Brexit aside, the Gibraltar Government has announced a review of the Gaming Act and there was recognition on the panel that in today’s increasingly regulated world, it is essential to keep governance frameworks appropriate, up to date and in a position to support a more diversified industry that embraces elements such as blockchain.Peter Montegriffo: “In my view the main reason Gibraltar became attractive in the late 1990s and early 2000s was because the Government was committed to putting in place a regulatory system that would embrace this industry. If we’re able to do that in the fledgling industries, it should allow us to repeat the success we enjoyed 15 or so years ago.”Referring to the legal challenge from Gibraltar to the UK’s point of consumption tax, the panel agreed that the case looked different over the passage of time. The Attorney General’s opinion that Gibraltar is the same member state as the UK offers positives for ensuring there is no distinction between the UK and Gibraltar in a post-Brexit world, said Peter Montegriffo, and there had been an unforeseen and welcome increase in traffic to Gibraltar following the introduction of the tax as businesses chose to be regulated there on their global footprint rather than in the UK.It all goes to prove that the relationship between Gibraltar, the UK and the EU is an extremely complicated and nuanced one, something that was recognised in recent discussions with the junior Brexit minister Robin Walker, which were described by those who attended as “very positive”.The last word went to Peter Howitt who said with the ongoing uncertainty around Brexit, it was important that both Gibraltar and the UK had enough resources politically and in the civil service to keep some focus on things that are outside of that process “so the political capital and the human capital is also put into things where it is not in the gift of the negotiations with Europe” he said. “The quicker that is done and communicated to the business sectors in Gibraltar and the UK, the better.”__________________________Jon Tricker – Managing Director KPMG Gibraltarlast_img read more