AGP Executive Report

Semiconductors: Japan could invest up to $21 billion in two GlobalFoundries chip factories in Malta, New York. The first is expected to begin production in 2029, adding major manufacturing capacity nearby. Vermont Manufacturing: Japan’s OMRON agreed to buy South Burlington-based industrial computer maker OnLogic for $675 million. Vermont manufacturers are also confronting workforce challenges, with the free Vermont Tech Jam on Oct. 24 offering employers a chance to meet potential hires. Working Lands: Vermont farms, forest-products businesses and eligible food processors can apply for $10,000–$50,000 grants for equipment, infrastructure, workforce training and other projects. Applications close Dec. 10. Fleet Electrification: More than $3 million remains available to help public and private fleets replace older diesel trucks, buses and large forklifts with electric equipment; reimbursements can cover up to 85% of public-sector costs and 75% for private businesses. Cannabis: A new pilot could let licensed retailers sell at permitted events, opening another sales channel for Vermont growers and dispensaries. On-site consumption will not be allowed.

Manufacturing: Japan’s OMRON will acquire South Burlington industrial-computer maker OnLogic for $675 million. The company will keep its brand as OMRON brings its automation expertise and international reach to support its growth. Working Lands: Vermont’s Business Enhancement Grant is accepting applications through Dec. 10. Farms, forest-products businesses and eligible food and processing organizations can seek $10,000 to $50,000, with no matching funds required, for equipment, infrastructure, market development, research or workforce training. Fleet Electrification: More than $3 million remains available to help public and private fleets replace older diesel trucks, buses and forklifts with electric equipment. Vermont entities can receive reimbursements of up to 85% of eligible costs; private businesses, up to 75%. Workforce Investment: Treasurer Pieciak awarded a record $3.4 million for higher education, including $2.4 million in non-loan tuition assistance distributed through UVM, the state college system and VSAC.

Manufacturing: South Burlington industrial-computer maker OnLogic will be acquired by Japan’s OMRON for $675 million. The company says its headquarters, Vermont manufacturing and engineering operations, and roughly 160 local jobs will remain; employees will receive bonuses, and shareholders will get payouts. Workforce: Vermont manufacturing leaders are working with educators and state officials on hiring and training as the industry faces labor shortages. Separately, a career event brought more than 1,200 high school students face-to-face with employers in high-demand fields. Working Lands: Grants of $10,000 to $50,000 are available to eligible Vermont farms, forest-products businesses and related organizations for equipment, infrastructure, workforce training and other projects. Applications close Dec. 10. Clean Energy: More than $3 million remains for public and private fleets replacing older diesel trucks, buses and forklifts with electric equipment; applications are accepted monthly through December or until funds run out. Construction and Housing: Hinesburg’s 36 affordable Riggs Meadow apartments are planned as all-electric homes using geothermal heating and cooling.

Aviation: South Burlington-based BETA Technologies completed Utah test flights moving medical cargo between three airports, demonstrating a potential use for its electric aircraft. Manufacturing: Japan’s Omron agreed to buy Vermont industrial-PC maker OnLogic for $675 million; the deal is expected to close in January, subject to approvals. Working Lands: Vermont businesses in farming, forestry, food and wood processing can apply through Dec. 10 for $10,000–$50,000 grants, with no matching funds required. Fleet Electrification: More than $3 million remains available to help public and private fleets replace older diesel trucks, buses and forklifts with electric models; reimbursements cover up to 75% of private costs and 85% for government entities. Workforce: More than 1,200 high school students recently met over 60 employers at a career event. Employers can also connect with job seekers at Vermont Tech Jam on Oct. 24. Clean Water: Vermonters can weigh in by Nov. 12 on priorities for about $43 million in state funding for water-quality and resilience projects, including farm and forestry practices.

Fleet Electrification: More than $3 million remains available through Vermont’s vehicle replacement program, offering public fleets up to 85% and private fleets up to 75% reimbursement for eligible electric trucks, buses and forklifts. Vermont Aviation: South Burlington-based BETA Technologies tested its electric ALIA aircraft on medical-cargo routes in Utah, demonstrating potential for time-sensitive deliveries. Working Lands: Vermont’s Business Enhancement Grant is accepting applications through Dec. 10, with awards of $10,000 to $50,000 and no matching requirement for eligible farms, food businesses and forest-products operations. Dairy: Vermont dairy groups are among 28 organizations urging USDA to drop a new 25% cost-share rule they say could burden farmers and processors. Separately, the Strafford Organic Creamery is working to sustain its family-run dairy amid workforce and industry challenges. Workforce Training: Voters in 18 Washington County communities will consider a $54.9 million bond for a redesigned Central Vermont Career Center, after rejecting a larger proposal last year.

Electric Aviation: South Burlington-based BETA Technologies completed five days of Utah flights, testing its all-electric aircraft for time-sensitive medical cargo deliveries—a step toward wider use of electric aviation and logistics. Working Lands: Vermont’s $10,000–$50,000 Business Enhancement Grant is open to farms, forest-product businesses and eligible food processors; applications are due Dec. 10, with no matching funds required. Career Training: Voters in 18 Washington County communities will consider a $54.9 million Central Vermont Career Center bond, a substantially scaled-back proposal after last year’s $149 million plan failed. The ballot must be requested separately. HVAC Distribution: Watsco has completed its acquisition of The Granite Group, which serves Vermont and six other Northeast states through 82 locations and will continue operating independently. Energy Costs: Vermont gasoline averages $4.40 per gallon, down slightly from last week, while high fuel costs remain a burden for households and school districts.

Community Investment: Vermont cannabis company Magic Mann says its BTV Local & Indigenous Fund has distributed more than $175,000 since 2020, including over $75,000 for Indigenous people, culture and organizations. Talent and Growth: International students brought an estimated $57.6 million to Vermont’s economy and supported 336 jobs in 2024–25, according to a commentary urging the state to treat higher education as an export. VermontBiz will recognize the state’s 25 fastest-growing companies at its Oct. 15 Business Growth Awards. Energy and Costs: Vermont schools face rising diesel expenses, while Gov. Phil Scott is seeking $6 million more for low-income fuel assistance as winter bills climb. A geothermal partnership between Dandelion Energy and Vermont Gas and a new Portside Renewables–AllEarth solar partnership point to local efforts to expand cleaner energy. Construction: Work has begun on affordable housing in Burlington, while the state’s weekly road report flags paving and bridge projects likely to affect travel.

Higher Education: International students brought an estimated $57.6 million to Vermont’s economy in 2024–25 and supported 336 jobs, making the case for stronger pathways for graduates to stay and work in the state. Clean Energy: Vermont Gas and Dandelion Energy are advancing geothermal projects, including utility-backed loops for affordable housing; GlobalFoundries has also added solar and battery systems in Vermont. Local Business: Cannabis company Magic Mann says its BTV Local & Indigenous Fund has distributed more than $175,000 to Vermont causes, including over $75,000 for Indigenous communities and initiatives.

Technology Policy: Sen. Peter Welch urged the IRS to stop major tech companies from using research tax credits to subsidize AI data centers, citing Meta’s nearly $4 billion credit in 2025. Community Investment: Vermont cannabis company Magic Mann says its BTV Local & Indigenous Fund has distributed more than $175,000, including over $75,000 for Indigenous communities and causes. Operating Costs: Rising diesel prices could push Champlain Valley School District $200,000 over budget for fuel, adding pressure on school transportation spending statewide. Business Growth: VermontBiz and TD Bank will recognize 25 of the state’s fastest-growing companies at an Oct. 15 expo, based on revenue growth data. Energy & Manufacturing: GlobalFoundries has brought solar and battery systems online in Essex Junction, while Vermont Gas and Dandelion Energy have broken ground on a geothermal partnership.

School Transportation: High diesel prices are squeezing Vermont districts. Champlain Valley expects to spend $200,000 over budget if prices hold, with monthly fuel costs up 60% from last year; districts that contract for buses anticipate higher costs ahead. Affordable Housing: Construction has begun on 30 permanently affordable Shale Beach condos in Burlington, with planned prices of $175,000 to $210,000. Shared-equity ownership is designed to keep the homes affordable for future buyers. Energy Investment: Vermont Gas and Dandelion Energy are advancing a geothermal partnership for affordable housing, while GlobalFoundries has brought a large solar array and battery storage online in Essex Junction. Workforce & Manufacturing: Vermont girls got hands-on exposure to construction and other trades at the Women Can Do event. Vermont Soapstone Co., a 170-year-old business, has also changed ownership. Winter Costs: Vermont plans to seek $6 million more for low-income fuel assistance as rising heating bills put pressure on households.

Cannabis: Vermont’s Magic Mann says its BTV Local & Indigenous Fund has distributed more than $175,000 since 2020, including over $75,000 for Indigenous communities and causes. Clean Energy: GlobalFoundries brought solar and battery systems online in Essex Junction, while Vermont Gas and Dandelion Energy launched a geothermal partnership. Green Mountain Power is also using home batteries as virtual power plants to support grid resilience. Construction: Work began on Burlington’s Shale Beach Condominiums, adding 30 permanently affordable homes. Hospitality: Winooski’s new 115-room Sugar House Hotel is set to open Oct. 21, with public restaurants and an all-electric design. Workforce: Some 450 high school girls explored trade careers at Vermont Works for Women’s annual Women Can Do event. Semiconductors: GlobalFoundries signed a $2 billion TSMC deal to make silicon interposers at its Malta, New York, fab, with production expected to ramp up in 2028.

Hospitality: Winooski’s 115-room Sugar House Hotel is set to open Oct. 21, with a café-bar, rooftop restaurant and all-electric design. Manufacturing: Morrisville-based MSI marked 30 years with a gathering of Vermont manufacturers and economic-development leaders focused on business growth and workforce challenges. Business Growth: VermontBiz and TD Bank will recognize the state’s 25 fastest-growing companies at an Oct. 15 event, using revenue data to identify the businesses. Clean Energy: GlobalFoundries has brought solar and battery systems online in Essex Junction, while Dandelion Energy and Vermont Gas are advancing a geothermal partnership. Heating Costs: Vermont plans to seek $6 million more for low-income fuel assistance as winter bills climb. Community Investment: Magic Mann says its BTV Local & Indigenous Fund has distributed more than $175,000 to community causes, including over $75,000 for Indigenous people and organizations.

Rutland’s Next Steps: The city has assembled a tax-increment financing district, a revitalized redevelopment authority, an investment fund and a downtown hotel project. A free Oct. 15 forum will discuss how to build on that foundation. Fuel Costs: Higher diesel prices could push Champlain Valley School District about $200,000 over budget, adding pressure as Vermont seeks more heating assistance for residents. Manufacturing: Vermont manufacturers and economic-development leaders met at Morrisville’s Manufacturing Solutions Inc. to discuss workforce needs, business growth and cross-border opportunities. Clean Energy: GlobalFoundries has brought solar and battery systems online in Essex Junction, while Vermont Gas and Dandelion Energy are advancing a geothermal partnership. Vermont-made AllEarth solar trackers are also reaching more property owners through a new dealer partnership. Tourism: The Lodge at Spruce Peak ranked No. 3 among New England resorts in Condé Nast Traveler’s Readers’ Choice Awards. Vermont’s lodging association is preparing its Nov. 17 conference on workforce, marketing and the future of tourism.

Solar: Vermont-made AllEarth Renewables trackers are joining Portside Renewables’ ground-mounted solar offerings through a new dealer partnership, extending access to farms, businesses and homeowners. Geothermal: Vermont Gas and Dandelion Energy are developing ground-loop systems for a 44-unit affordable housing project in Hinesburg, a model they say could widen access to efficient heating and cooling. Manufacturing: Morrisville-based Manufacturing Solutions hosted Vermont industry, government and economic-development leaders to discuss business growth and workforce challenges as the company marked 30 years in the state. Clean Power: GlobalFoundries has brought new solar and battery systems online in Essex Junction. Transportation: Vermont’s EV market share reached 5.55% in the second quarter, ranking 24th nationally; the state had 1,411 public charging outlets. Workforce: A new cohort of broadband technicians has completed free training as Vermont’s network buildout ramps up. Tourism: The Lodge at Spruce Peak ranked No. 3 among New England resorts in Condé Nast Traveler’s readers’ awards, while the Vermont Lodging Association is recruiting sponsors for its November conference.

Heating Costs: Vermont plans to seek $6 million more in federal fuel assistance on top of its $22 million allocation, as heating oil tops $6 a gallon and officials warn aid may run short by midwinter. Manufacturing: Morrisville’s Manufacturing Solutions marked 30 years with a gathering of manufacturers, state officials and economic-development leaders focused on workforce needs, business growth and cross-border opportunities. Workforce: Vermont’s broadband technician program graduated its largest class yet, preparing workers for construction tied to the state’s federally funded broadband buildout. Clean Energy and Autos: GlobalFoundries has brought new solar and battery systems online in Vermont. Separately, the state recorded 584 new EV sales in the second quarter; EVs made up 5.55% of new vehicle sales, while public charging stood at 1,411 outlets for roughly 19,900 EVs on the road.

Tourism: Stowe’s Lodge at Spruce Peak was named New England’s No. 3 resort in Condé Nast Traveler’s Readers’ Choice Awards, a lift for Vermont’s visitor economy. Transportation: Vermont EVs made up 5.55% of new light-duty vehicle sales in Q2, with 584 sold; market share rose from Q1 but remained below last year’s level. Agriculture: A free Oct. 29 workshop in Greensboro will cover bedded-pack manure systems, livestock care, farm costs and soil health. Clean Energy: GlobalFoundries has brought a large solar array and battery storage online in Essex Junction. Vermont Gas is also funding geothermal loops for affordable housing. Manufacturing: A Vermont Manufacturing Extension Center event in Burlington on Oct. 15 will connect employers with workforce, financing and automation resources. Heating Costs: With winter fuel bills expected to climb, state officials are urging Vermonters to apply for LIHEAP assistance.