first_imgVermont Business Magazine The Vermont Economic Development Authority (VEDA) has approved $33.5 million in financing assistance to Vermont businesses undertaking commercial and manufacturing expansion projects throughout the state. Also included is financing to support agricultural, real estate development, and business technology projects.”VEDA is pleased to offer financing support to these projects,” said VEDA Chief Executive Officer Jo Bradley. ‘Jobs are being retained or created in a variety of economic sectors, and that is good news for Vermont.’ Projects approved by the Authority for financing assistance are:· Central Vermont Public Service Corporation, Rutland ‘A total of $30 million in Recovery Zone Facility Bond (RZFB) financing was given final approval by the Authority to support the $48.7 million in planned infrastructure upgrades by Central Vermont Public Service Corporation (CVPS). The low-interest, tax-exempt federal bond financing was made available through the American Recovery and Reinvestment Act of 2009 (a.k.a. the Stimulus Act). In May of this year, VEDA gave inducement approval for $25 million in bond financing for the CVPS project; an additional $5 million in eligible project costs have been approved since then. Vermont’s largest utility, CVPS operates in 13 of the state’s counties and employs 530 people. Over the next two years, CVPS plans to install and upgrade distribution and transmission lines. Improvements and upgrades are also planned to distribution and transmission substations and hydro systems, telecommunication infrastructure and a Smart Grid investment is anticipated.· Swan Valley of Vermont and Jonergin Realty, LLC, Swanton ‘ A $5.6 million project to purchase a former cheese manufacturing facility and bring it back to productive use will receive $1.3 million in VEDA financing assistance. Through a newly-formed partnership between Jonergin Realty, LLC and Swan Valley of Vermont, LLC, the former VIA (Lucille Farms) cheese facility in Swanton will be purchased and upgraded with new equipment and machinery. Swan Valley of Vermont will gear up to produce a variety of specialty artisan cheeses for wholesale to various institutional buyers. It is estimated that within three years of the project, more than 50 new jobs will be created. Bank of America is also participating in the project.  · Rock Art Brewery, Inc., Morrisville ‘ Financing was approved to help Rock Art Brewery buy land and build a new brewing facility, more than doubling their current leased production and retail space in Morrisville. The project also includes financing participation by Merchants Bank. The brewing company, started as a home business in 1997, will move from their current leased facility to property which they will purchase on Route 100. The company will build a new structure and purchase machinery and equipment to be used in the brewing process. Rock Art Brewery employs eight people, a number expected to grow to ten within three years of the expansion project.  · Mad River Park Corporation, Waitsfield ‘ Financing of $210,000 was approved to Mad River Park Corporation to fund its purchase of a 14,000 square foot industrial building on 3.47 acres of land in Waitsfield.    In addition, VEDA approved:· $1.05 million in financing to Vermont farmers through the Authority’s agricultural loan program, the Vermont Agricultural Credit Corporation (VACC);· $100,000 in financing through the Authority’s Technology Loan Program, designed to assist smaller technology-related firms; and· $350,000 in small business project financing through the Authority’s Small Business Loan Program. 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 $1.5 billion. For more information about VEDA, visit www.veda.org(link is external) or call 802-828-5627.Source: VEDA. 9.22.2010last_img read more

first_img On July 19, Peruvian police announced the seizure of around 4 million counterfeit dollars and euros from an international counterfeiting ring that hoped to introduce them into the United States and Europe. “We’ve struck a heavy blow against the counterfeit of foreign currency, seizing 2.4 million dollars and 1.6 million euros, all counterfeit,” said Colonel Segundo Portocarrero, head of the Police Fraud Division. Traffickers customarily use a route that takes them through Argentina and Ecuador in order to subsequently transport the counterfeit currency to U.S. and European cities, according to the police commander. Two people were arrested during police operations in residences in heavily populated areas of Lima, where the counterfeit bills were found hidden in book covers and suitcases with false bottoms. In 2011, more that 8 million counterfeit dollars were seized by the Police. Peru is one of the top countries for counterfeiting bills in Latin America, according to the Police. By Dialogo July 23, 2012last_img read more

first_img– for blowing whistle on delinquent officials not declaring assetsThe Transparency Institute of Guyana Incorporated (TIGI) has thrown its support behind the Integrity Commission, which only recently published the names of various Ministers and parliamentarians who have failed to submit income declarations.In a statement issued over the weekend, President of the anti-corruption organisation, Dr Troy Thomas lauded the Commission for its work. While the body congratulated these officials who did comply with the requirements, it noted that publishing the names of the delinquents was a step in the right direction.“TIGI hereby acknowledges the work of the Integrity Commission in publishing the names of the persons in public life who failed to submit their declaration as required by the Integrity Commission Act.“We are encouraged by the public statements of some of those who have been cited for non-compliance and look forward to their satisfaction of that commitment. We call on all Guyanese to support this effort of the Integrity Commission by seeing it as a bright start to holding ourselves – all of us – to account,” the organisation added.The organisation also noted its longstanding call for the activation of the Integrity Commission. In that context, TIGI offered congratulations to the Commission for its work so far.In a surprise move, the Integrity Commission had spilled the beans last month on exactly which public officials have been complying with the law and declaring their income and those who have not.The Commission revealed in a gazetted list that some 15 Ministers, 24 Members of Parliament (MPs) and a host of regional officials – including embattled TownTIGI President, Dr Troy ThomasClerk Royston King, who had for some time faced the heat at a Commission of Inquiry (CoI) – failed to declare their income.Opposition Leader Bharrat Jagdeo was among the few who were in compliance with the law and had submitted declarations of his assets as of November 1, 2018. But surprisingly, Speaker of the National Assembly, Dr Barton Scotland was red-flagged for not declaring his income to the Commission.It turns out that the Cabinet is full of persons in breach of the law. Making the list of delinquent officials from the People’s National Congress (PNC), part of the coalition Government, were Foreign Affairs Minister and Vice President Carl Greenidge and Communities Minister Ronald Bulkan.In addition, Social Cohesion Minister, Dr George Norton; Citizenship Minister Winston Felix; Education Minister Nicolette Henry and several Junior Ministers, including Junior Natural Resources Minister Simona Broomes, were in breach.With the exceptions of Public Infrastructure Minister David Patterson and Junior Indigenous Peoples’ Affairs Minister Valerie Garrido-Lowe, all other Alliance for Change (AFC) Ministers had submitted their income declaration statements. Public Service Minister, Dr Rupert Roopnaraine was also red- flagged by the Commission.Besides these Ministers, 10 other Government MPs and 16 Opposition parliamentarians were in default. They include MPs Audwin Rutherford, Richard Allen, Dr Frank Anthony, Collin Croal, Africo Selman, Odinga Lumumba and Dr Jennifer Westford.Seven Presidential Advisors are in breach of the law. They are Granger’s Senior Advisor and former PNC Leader Robert Corbin; Protocol Advisor Eshwar Persaud; Ministerial Advisor on Education Cheryl Sampson; Natural Resources Advisor Ndibi Schweirs; Advisor on Indigenous Peoples Affairs, Mervyn Williams; Advisor on Constitutional Reform, Lance Carberry and Technical Advisor on Oil and Gas, Max Mohamed.There were a number of Permanent Secretaries on the list of defaulters. They include Emile McGarrell of the Communities Ministry; Vibert Welch of the Education Ministry; Reginald Brotherson of the Ministry of the Presidency’s Public Service Department and his counterpart at Social Cohesion, Culture, Youth and Sports, Steve Ninvalle.At the Public Security Ministry, PS Daneilla McCalmon also failed to submit declarations, while both PS and Deputy PS at the Social Protection Ministry, Lorene Baird and Mohan Ramrattan, are in default.At the Public Health and Infrastructure Ministries, PSs Colette Adams and Kenneth Jordan were flagged by the Commission, while Indigenous Peoples’ Affairs Ministry PS Alfred King and his deputy, Sherie Samantha Fedee were also cited.The Integrity Commission Act requires every public official, except the Commissioners themselves, to declare their assets, income, gifts, and liabilities, along with those of their spouses and children if applicable, by June 30 every year.Section 22 (a) of the Act states that any official who without reasonable cause fails to file their declarations or any official who files an incomplete or false declaration “shall be liable, on summary conviction, to a fine of $25,000 and to imprisonment of not less than six months nor more than one year.”last_img read more