DOING BUSINESS IN VERMONT

Vermont Department of Economic Development
802-505-5496
Tim.Tierney@Vermont.gov
ThinkVermont.com

Doing business in VermontAt DED, we are devoted to supporting businesses and helping them create jobs. Employers can easily access us and our services, as they and their employees get to live, work, and play in a place where millions come to vacation every year.

— Joan Goldstein, Commissioner,
Vermont Department of Economic Development
Doing business in Vermont
Aerial shot of Montpelier, Vermont (Photo: Vermont Department of Tourism and Marketing)

  FAST FACTS

Population (July 2022 est.): 647,064¹
Largest Cities (2020): Burlington (44,873); South Burlington (20,257); Rutland (15,844); Essex Junction (10,556); Winooski (8,025)¹
Real GDP (2022): $31.4 billion²
¹U.S. Census Bureau
²Bureau of Economic Analysis, U.S. Dept. of Commerce

  TARGETED GROWTH SECTORS

Emerging Technology: Recently named Advancing Gallium Nitride (GaN) Tech Hub by the U.S. EDA, the University of Vermont, GlobalFoundries, and state of Vermont are collaborating to boost GaN manufacturing through technology innovation.


Advanced Manufacturing: Key innovation industries including aerospace, control instruments, and medical equipment.


Food Processing and Manufacturing: Buoyed by craft drinks and food manufacturing alongside growing local meat processing capacity, this sector is seeing continued growth.

  TOP PROJECTS

COMPANY
LOCATION
BETA Technologies
St. Albans
Onlogic Industrial Computers
South Burlington
Galvion
Newport
MSI
Morrisville
Chroma Technologies
Bellows Falls

  SUPPORT GROWTH, WORKFORCE TRAINING

Vermont Economic Growth Incentive (VEGI) provides cash payments to businesses based on revenue return generated to the state from qualifying jobs, payroll creation, and capital investments.
The Vermont Training Program (VTP) currently used by GlobalFoundries and others provides performance-based workforce grants covering up to 50% of training cost for pre-employment training, and training for new hires and incumbent workers.

  TOP BUSINESS FACILITIES RANKING

#3 Outdoor Recreation
2023 State Rankings

From the July / August 2023 issue of Business Facilities

LATEST NEWS

migration patterns, United Van Lines, 47th Annual National Movers Study

National Movers Study: Where Did Americans Move In 2023?

Lower costs are drawing Americans to the Southeast and less expensive metros, finds United Van Lines’ 47th Annual National Movers Study.
U.S. Tech Hubs

EDA Announces 31 Tech Hubs Across U.S. 

New Tech Hubs program will drive regional innovation and job creation by strengthening a region’s capacity to manufacture, commercialize, and deploy technology.
California Energy Efficiency

California Is Tops, Maine Is Most Improved In Energy Efficiency

California's energy efficiency policies and efforts to reduce greenhouse gas emissions earn it the #1 spot on ACEEE's 2022 State Energy Efficiency Scorecard.