Vermont may seem like an unlikely home for a thriving technology industry, but despite being America‘s second smallest state by population, Vermont boasts a growing and vibrant tech sector that generates billions of dollars in annual revenue. Here is an inside look at the Green Mountain State‘s largest and most influential tech companies through the years.
Key Stats on Vermont‘s Tech Industry
As of 2020, Vermont‘s technology industry was valued at over $2.8 billion, accounting for over 8% of the state‘s entire workforce. There are around 2,000 tech companies operating in Vermont employing about 16,000 workers with an average salary of $77,000 per year.
From emerging startups to long-standing industry players, technology companies have found a welcoming environment in Vermont thanks to business-friendly policies, availability of tech talent coming out of local universities, and a high quality of life. Outside investment has also flowed in, with Vermont‘s tech industry securing over $600 million in funding from domestic and international sources in 2021 alone.
Largest Tech Companies Founded in Vermont
Vermont has nurtured a number of successful homegrown tech firms over the past few decades specialized in software, electronics, manufacturing, and more:
Systems and Software – Founded 1973 (30 Employees)
Headquartered in Winooski, Systems and Software develops financial and utilities management software used by government and commercial enterprises. The company has built custom cloud-enabled solutions for clients since the 1970s.
Schoolhack Solutions – Founded 2014 (50 Employees)
This Bristol-based educational technology company creates online tools to enrich learning in Vermont‘s K-12 school system and beyond. Their flagship classroom platform called LiFT incorporates personalized and project-based lessons.
Inntopia – Founded 1998 (73 Employees)
Inntopia provides booking and reservation management systems to hotels, resorts, travel agents, and vacation rental owners. Originally called OnlineReservations.com, the Stowe-based company found success by focusing specifically on the hospitality industry.
Data Innovations – Founded 1989 (180 Employees)
With global offices across North and South America, Europe, and Asia, this medical software provider develops middleware to help hospitals and labs manage clinical diagnostics and blood analysis. Over 20% of Data Innovations‘ Vermont staff hail from the University of Vermont.
iTech US – Founded 2001 (200 Employees)
Delivering IT consulting, custom software development, data warehousing, and other tech services to enterprises, iTech US has over 1,200 employees worldwide. Still, its Vermont headquarters accounts for 200 tech jobs. The company actively recruits fresh graduates from Champlain College to join its ranks.
Dynapower – Founded 1963 (300+ Employees)
Dynapower is a major designer and manufacturer of power electronics equipment for clients ranging from data centers to automakers to the U.S. Department of Defense. Though headquartered in South Burlington, Dynapower has additional manufacturing facilities in New York and California.
Simmonds Precision Products – Founded 1956 (650 Employees)
This Collins Aerospace subsidiary makes sensors and electrical systems for commercial and military aircraft. Simmonds Precision Products has been contributing advanced aviation tech used by the U.S. Armed Forces for over 60 years from its base in Vergennes, Vermont.
The Peck Company – Vermont‘s Leading Public Tech Stock
While most of Vermont‘s tech firms are privately held, Williston-based Peck Electric Co. also known as The Peck Company (ticker PECK) has made a name for itself since incorporating in 1972.
Under CEO Jeffrey Peck, the electrical engineering contractor has shifted focus from its founding general construction roots toward solar power in recent years – designing and installing commercial and residential photovoltaic systems across the Northeastern U.S.
In 2019, Peck went public with a market cap approaching $30 million. As Peck continues expanding its clean energy solutions and data center infrastructure expertise, this company is poised to become the Green Mountain State‘s largest publicly-traded tech stock.
Forgotten Tech Pioneers
Though no longer operating in Vermont today, a few past resident tech firms left their mark in the region.
Suss Microtec
From 1980 to 2015, Japanese semiconductor company Suss Microtec ran a specialty R&D and production plant in Waterbury developing advanced photolithography equipment along with universities like MIT. The closure of this high-tech facility resulted in the loss of around 100 local engineering jobs.
Seldon Technologies
Founded in Windsor in 2002, Seldon Technologies worked on next-generation water filtration products using cutting-edge nanotechnology and carbon nanotubes. While on the verge of a major commercial deal to distribute their filters throughout Mexico in 2015, the startup went bankrupt and abruptly shuttered.
The Future of Tech in Vermont
While Vermont has seen some tech players come and go, today‘s climate looks bright for startups and tech enterprises evaluating a future in the Green Mountain State. Initiatives like the recently announced Elevate Vermont program provide funding and networking for emerging companies, while Vermont‘s high quality of life and skilled university talent continue attracting technology innovation.
