Bill Would Impose New Property Tax, Expand Manufacturing Credit and Exemption

Bill Would Impose New Property Tax, Expand Manufacturing Credit and Exemption

The House passed H.437 a revenue bill that would create a property transfer tax surcharge at the rate of one half of a percent on the value of property transferred over $1 million. The bill would also increase the annual amount available for the affordable housing tax credit, which would be dedicated to purchasing and restoring manufactured homes. Funds generated through the tax would support the expansion of the sales and use tax exemption for machinery, equipment, and ancillary processes deemed to be used as an integral or essential part of an integrated manufacturing operation.

This would be a move away from taxation at consumption theory and direct use standard to an integrated plan that proposes to make tax exempt the ancillary processes that occur throughout the manufacturing process, from raw materials in the beginning to the final product and packaging. To qualify for exemption these processes must protect the quality of the product and be part of the integrated production operation. Examples include air quality, cooling, heating, waste removal, and cleaning. Additional processes that occur after initial packaging, such as testing, inspection, quality control, and secondary packaging would also be exempt from the use tax under this proposal.

SHARE THIS ARTICLE

Share on facebook
Share on twitter
Share on linkedin
Share on email

RECENT NEWS

Spotlighting Mobile Medical International Corporation

Spotlighting Mobile Medical International Corporation

This month, we are spotlighting Vermont Chamber member Mobile Medical International Corporation. MMIC provides temporary healthcare facilities which provide a full line of U.S. healthcare code compliant on-site solutions for hospitals. They strive to improve the health and well-being of people through creative design of temporary medical facilities and support systems that enable their customers to deliver the highest standard of care. They have a demonstrated history of bringing innovative products to market and introduced the world’s first Mobile Surgery Unit (MSU), a US healthcare code compliant temporary medical facility designed to provide an on-site solution for hospitals experiencing downtime.

Why MMIC? Because they never stop caring. From surgical to sterile processing to water quality, their solutions are backed by decades of unequaled performance.

Visit MMIC’s website to learn more!

SHARE THIS ARTICLE

Share on facebook
Share on twitter
Share on linkedin
Share on email

RECENT NEWS

How Vermont Businesses Are Helping Our Communities

How Vermont Businesses Are Helping Our Communities

Vermont and the nation are experiencing an unprecedented public health emergency, coupled with an abrupt economic downturn. 

Our thousands of statewide businesses and their employees and families across all industries are facing hardships. Even in the face of significant challenges,  Vermont businesses have shown compassion, innovation, and care for their communities. 

Below are examples of Vermont businesses and organizations helping during the  pandemic:

  • Northfield Savings Bank donated $15,000 to Vermont Foodbank
  • Darn Tough donated 5,000 pairs of socks to the UVM Health Network and is knitting a sock that benefits the Vermont Foodbank
  • Vermont Evaporator Company is making and donating durable, washable cloth masks to Vermont public schools to help them reopen safely
  • O’Brien Brothers is donating $20,000 to two Vermont organizations to help Vermonters in need to get basic necessities this winter
  • GLOBALFOUNDRIES donated tools and equipment to Generator Inc., a local nonprofit makerspace and donated $20,000 to the University of Vermont Medical Center to help in the fight against COVID-19
  • TD Bank thanked their employees with $500 pandemic bonuses
  • Vermont Mutual Insurance Group is contributing $1 million in charitable donations to help with COVID-19 relief efforts in Vermont
  • RunVermont is holding a Get Out, Give Back virtual run/walk three-race series supporting Vermont non-profits
  • Gordon’s Window Decor is re-purposing cellular shade material to produce comfortable masks and donating 25 masks to non-profits in need for every 25 masks purchased
  • Vermont Housing Finance Agency is accepting applications for their Vermont COVID Emergency Mortgage Assistance Program
  • ECHO Leahy Center launched two programs to support Vermont families: ECHO Virtual STEM Academy and ECHO Care and Enrichment
  • Lake Champlain Chocolates donated chocolate hearts to teachers and support staff in Chittenden County and teamed up with Vermont Creamery for a sweet collaboration to raise money for the Vermont Foodbank
  • PieMatrix in Burlington is offering free CDC-based COVID-19 back-to-business and back-to-isolation plans for businesses to use when opening or closing operations 
  • Vermont Community Foundation announced $380,500 in grants in the fourth round of grantmaking from the VT COVID-19 Response Fund
  • Vermont Teddy Bear is sewing more than 3,000 face masks to donate to medical professionals and is spearheading an effort to  help make 125,000 masks available in Vermont
  • Teknor Apex is manufacturing TPE resin that is converted into the straps for the 95 facemasks, breather bags on ventilators, and face mask respirators
  • Hops for Hope, a 5k run and walk to benefit the American Cancer Society, goes virtual to continue supporting cancer treatment and research
  • Vermont State Colleges System partnered with Vermont Electric Power Company to offer free Wi-Fi to the general public on the campuses of Northern Vermont University, Castleton University, and Vermont Technical College
  • The Community Bank NA New England branches donated $15,000 to The DREAM Program
  • The MEND Fund was created to respond to the burden faced by downtown businesses during the COVID-19 pandemic; supporters include Union Mutual Insurance Company, Vermont Mutual, National Life, Northfield Savings Bank, and Noyle W Johnson
  • Farrell Distributing and The Foundry at Summit Pond are partnering with Yealands Wines and Palm Bay International to create a “Raise a Glass” program supporting local healthcare workers
  • The Skinny Pancake is feeding Vermonters in need with free meals through their new food response program, ShiftMeals
  • Tuttle Printing is producing face masks to help businesses comply with state guidance and regulations, available for order by email
  • Farrell Distributing helped develop a coalition of Vermont businesses  to serve communities with needed sanitizer
  • Birchgrove Baking is offering “Sweeten a Day” boxes; customers can purchase a box of pastries to donate to hospitals, health care workers, and first responders
  • Fat Hat Clothing Company is pitching in to make protective masks
  • Sugarsnap launched a delivery service to help workplaces and homes provide sustenance and care as well as social distance and safety
  • Vermont Glove is pivoting to produce protective gear
  • Burton is donating half a million KN95 masks to hospitals around Vermont, to Dartmouth-Hitchcock Medical Center in New Hampshire, and to other areas where they are urgently needed; they have also donated over 1,000 Anon Optics goggles through Goggles for Docs
  • Dunkin’ is sending care packages to Central Vermont Medical Center, Grace Cottage Family Health and Hospital, and Gifford Medical Center health care workers
  • Bar Harbor Bank is donating to help adult education programs in Vermont
  • The Vermont Country Store is sharing advice on safely bridging the social distance and checking in on neighbors and loved ones
  • Green Mountain Power is temporarily suspending collections-related activities, including service disconnections through the end of April
  • Orvis answered Southwestern Vermont Health Care’s call for personal protective equipment
  • Awesome Graphics in Rutland is printing signs with COVID-19 etiquette reminders and thank-you’s to essential workers and health care workers
  • Distilleries around Vermont, including Green Mountain Distillers, SILO Distillery, Barr Hill by Caledonia Spirits, Mad River Distillers, and Smugglers’ Notch Distillery are producing hand sanitizer for those in need 
  • In a press conference on March 23, Governor Phil Scott made special note of the good work underway as communities respond to COVID-19 by Casella Waste Systems, Inc., Autumn Harp, General Dynamics, GlobalFoundries, Cold Hollow Cider Mill, and others
  • Two Brothers Tavern is serving deeply discounted wines 
  • Yoga Six in South Burlington offered free online yoga classes 
  • Spectrum Internet is offering two free months of internet and WiFi services for new Pre-K to 12, college student and teacher households who don’t have internet or WiFi service
  • Effective until further notice, Green Mountain Transit is operating bus service fare free
  • In response to the pandemic, the Vermont Housing Finance Agency awarded $120,000 in grants to meet housing needs and is providing help through a new Mortgage Assistance Program to Vermont homeowners who have fallen behind on payments 
  • ​NPI Technology Management is offering web content to help Vermont businesses make remote workplaces work and free consultation to provide technical advice
  • Arts and humanities organizations in Vermont can apply for emergency relief funding through a new partnership between the Vermont Arts Council and Vermont Humanities
  • Union Mutual is partnering with Montpelier businesses Langdon Street Tavern and Pinky’s Deli to sponsor meals each week for Montpelier and Central Vermont residents in need
  • Consolidated Communications is helping students learn from home, upgrading networks so doctors can focus on patients, and providing tools to help employees collaborate remotely
  • Leonine Public Affairs created a thorough COVID-19 resources page
  • SKIRACK in Burlington donated googles to health care workers through Goggles For Docs
  • Burlington maker space Generator started prototyping personal protective equipment for area hospitals in response to nationwide shortages
  • The National Life Group Foundation approved grants of $100,000 each to community foundations in Vermont and Texas
  • Chroma’s filter technologies are letting biotech firms develop tests for coronavirus
  • Little Morocco Café in Burlington is serving free hot soup and rice three times a week, and Stowe Street Café in Waterbury is also making and distributing free community meals
  • Trent’s Bread in Westford, Vermont, is donating loaves of bread to local food shelves
  • The Vermont Institute of Natural Science is offering at-home education resources 

Retailers and grocers are making extraordinary changes to the way they do business in order to ensure the safety of their staff and customers. The Vermont Retail and Grocers Association is updating this list of what retailers and grocers throughout the state are doing to combat the COVID-19 pandemic. Services range from delivery to curbside pickup and designated shopping hours for vulnerable populations.

To support the fight against COVID-19, the Vermont Chamber, partnering with state and federal government agencies, engaged manufacturers to quickly locate urgently needed medical supplies and to identify manufacturers who could retrofit and adapt their operations to manufacture essential personal protective equipment (PPE), medical devices, and life-saving medicines. Many Vermont manufacturers are stepping up to make medical protective gear.

Additionally, businesses looking to donate PPE (personal protective equipment) are advised:

  • You can drop PPE off at the Vermont Emergency Management building at the Waterbury State Complex between 8 a.m. and 4 p.m. daily, at 45 State Drive, Waterbury, VT 05676.
  • If you can’t get to Waterbury, you can drop it off at the closest State Police Barracks with locations listed here.

The Vermont Chamber of Commerce is determined to continue ensuring the well-being of Vermont’s business community during these unique and trying times. Please contact us if you have any questions, and access our COVID-19 Resources page for the latest information and resources for businesses.​

Picture

SHARE THIS ARTICLE

Share on facebook
Share on twitter
Share on linkedin
Share on email

RECENT NEWS

Spotlighting KAD Models and Prototypes

Spotlighting KAD Models and Prototypes

This month, we are spotlighting Vermont Chamber member KAD Models and Prototypes, Inc. KAD has been in the business of Advanced Adaptive Manufacturing, providing engineers and line of business with rapid turnaround machining of plastics, metals and hard to machine materials with high-end precision and quality since 2012.

As an OEM and Tier 1, 2, & 3 supplier to OEM’s and prime contractors, KAD serves clients leading in technology and consumer electronics, aerospace, automotive, industrial, marine, and medical industries. KAD manufactures products directly from 3-D models and inspects every order – ensuring consistently high quality for every part made. 

Visit KAD Models and Prototype’s website to learn more!

SHARE THIS ARTICLE

Share on facebook
Share on twitter
Share on linkedin
Share on email

RECENT NEWS

Vermont Manufacturers Answer the COVID-19 Call to Action

Vermont Manufacturers Answer the COVID-19 Call to Action

By Chris Carrigan, Vice President of Business Development for the Vermont Chamber of Commerce

Vermont, along with the rest of the world, is dealing with an unprecedented public health emergency. The toll on our communities and businesses has been significant.

As the COVID-19 pandemic disrupts supply chains and reveals shortages of emergency health care supplies needed by hospitals, Vermont’s manufacturing community is stepping up with innovation, commitment to community, and action.

To support the fight against COVID-19, the Vermont Chamber of Commerce, partnering with state and federal government agencies, is engaging manufacturers to quickly locate urgently needed medical supplies and to identify manufacturers who can retrofit and adapt their operations to manufacture essential personal protective equipment (PPE), medical devices, and life-saving medicines.

Personal protective equipment, including N95 masks, ventilators, and hand sanitizer, top the list of most-needed supplies. And Vermont manufacturers are stepping up to the plate. GlobalFoundries has donated N95 masks to Vermont Emergency Management and is providing technical specifications for additional items. Generator is prototyping, testing, and planning the production of PPE including face shields, N95 masks, and ventilators. Vermont Teddy Bear is sewing more than 4,000 face masks so that N95 masks can be reserved for health care workers on the front lines. And distilleries around Vermont, including Green Mountain Distillers, SILO Distillery, Barr Hill by Caledonia Spirits, Mad River Distillers, and Smugglers’ Notch Distillery are producing hand sanitizer and giving it to those in need. Additional manufacturers from Manufacturing Solutions Inc., Fulflex and Revision Military to Collins Aerospace and Stephens Precision have also stepped forward with readiness to aid in the production of PPE. 

It is also important to recognize the essential work being done by Vermont’s cluster of medical device manufacturers.  From Bio-Tek and Chroma Technology to GW Plastics, IVEK Corporation, and Micro Wire Transmission Systems, these manufacturers are in motion producing essential consumer health products and medical devices for Johnson & Johnson, Boston Scientific, and Siemens Healthcare Diagnostics. 

Vermont Chamber work also extends to Canada, and, in partnership with our neighbors to the North, we are tapping cross-border supply chain contacts to identify manufacturers with excess supply and who can aid in the production of PPE.

​As we collectively deal with this pandemic, the manufacturing community is Vermont strong and playing an instrumental role in the fight against COVID-19. According to a Vermont Chamber survey, essential manufacturers are still hard at work. Ninety-seven percent of respondents are using social distancing for their operational employees. Eighty-nine percent are using site visit controls. Eighty-three percent are limiting travel. Sixty percent are implementing shift schedules and 17% are conducting temperature screening. These and additional measures are being taken by our manufacturers to ensure the welfare of employees and continue production of critically needed medical supplies.      

For more examples of how Vermont manufacturers and businesses are helping during the pandemic, visit our blog post.

Chris Carrigan is the Vice President of Business Development for the Vermont Chamber of Commerce, whose mission is focused on creating an economic climate conducive to business growth while enhancing Vermont’s quality of life. Chris Carrigan lives in South Burlington.

SHARE THIS ARTICLE

Share on facebook
Share on twitter
Share on linkedin
Share on email

RECENT NEWS