Recent News Highlights Vermont’s Dynamic Tech Sector – and Upcoming VTTA Events
As you see in the news items we feature every month in this newsletter, there continues to be a lot of activity across the Vermont tech sector; and this month is no exception: from acquisitions involving Reading Plus, Aquana and Omega Optical, to new cloud services from NRG Systems, expansion plans from GlobalFoundries (which may benefit the Vermont plant), the growth of Hula as a tech business space, and the possibility of an IT business expanding to Waterbury. And a rating of Vermont as the top state to live in 2021. This all highlights the dynamism of Vermont’s tech sector and the opportunities ahead for businesses in the nation’s highest vaccinated state as they come out of the pandemic and look to the future.
We’re pleased to bring some of that tech community together in person once again for our Sunset Networking Cruise Event. Set sail with the Vermont Technology Alliance and friends aboard the Spirit of Ethan Allen for our annual Lake Champlain sunset cruise networking event, sponsored by FirstLight. Enjoy spirits, food, and networking amid the spectacular setting of Lake Champlain.
And coming up, we’re partnering with Cross Insurance to present an online educational seminar on risk management issues specific to the tech industry, as well as benefits solutions on Friday, Aug. 6, from 2-3 p.m. Look for the announcement soon with registration details.
As always, we welcome businesses and individuals to join our more than 200 current VTTA members. Find more information here.
Jeff Couture
Executive Director
Vermont Technology Alliance
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VCET Lunch & Learn: Employee Retention Tax Credit
(June 24, 2021)
In this session, Mary Mooney of VTTA member Reconciled will discuss the Employee Retention Credit (ERC) and will walk participants through how it works and determining eligibility.
Find more information here.
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Vermont Technology Alliance Sunset Networking Cruise
(September 9, 2021 – Spirit of Ethan Allen)
Set sail with the Vermont Technology Alliance and friends aboard the Spirit of Ethan Allen for our annual Lake Champlain sunset cruise networking event. Enjoy spirits, food, and networking amid the spectacular setting of Lake Champlain
Find more information and register here.
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Reading Plus Acquired by DreamBox Learning
(July 20, 2021 – DreamBox)
Education technology provider, DreamBox Learning, announced that it has acquired Winooski, VT-based Reading Plus, an evidence-based online reading program for grades 3-12, designed to help students boost their literacy skills and reading confidence.
This move complements DreamBox’s recent acquisition of Squiggle Park, a K-2 reading solution designed to help students gain proficiency in early literacy. The combined programs offer school districts the only dual-discipline solution rated “Strong” by Johns Hopkins’ EvidenceforESSA.org in both mathematics and reading.
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GlobalFoundries to Build New Chip Plant in Upstate New York – Vermont Investments Also Planned
(July 19, 2021 – Vermont Business Magazine/GlobalFoundries)
Semiconductor manufacturer GlobalFoundries (GF) announced iexpansion plans for its most advanced manufacturing facility in upstate New York over the coming years. These plans include immediate investments to address the global chip shortage at its existing Fab 8 facility, as well as construction of a new fab on the same campus that will double the site’s capacity.
GF's Essex Junction plant, known as Fab 9, is not being left out.
Corporate Communications Manager Gina DeRossi told VBM: "In addition to expanding our operations in Singapore and in Malta, New York, as demand for GF’s solutions has increased worldwide, we will also be making targeted investments in our Burlington, Vermont, facility in the next two years."
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WSJ: Intel in Talks to Buy GlobalFoundries
(July 16, 2021 – WCAX-TV)
Intel is in talks to buy GlobalFoundries.The Wall Street Journal reports the giant technology corporation is eyeing a $30 billion deal for the chipmaker that would include the Essex Junction plant.
“It’s hard to predict what that could mean for Vermont,” said Cathy Davis, president of the Lake Champlain Chamber of Commerce.
GlobalFoundries currently employs 2,200 workers at the Essex Junction facility and 13,000 more across the globe. Davis says their future depends on Intel’s acquisition goals but it’s possible Vermont employees could be asked to join the Intel team. “Ideally, everyone remains employed and maybe, ideally, they hire even more people,” she said.
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CNBC Names Vermont Top State to Live in 2021
(July 18, 2021 – CNBC)
Financial news network CNBC has named Vermont number one in its list of the top 10 states to live in 2021.
The network says that the pandemic "taught millions of Americans how to work from home, and many are likely to continue to work remotely at least some of the time." Along with traditional quality of life measures, they note that areas such as voting rights and inclusivity are rising as important factors.
“Vermonters enjoy low crime rates, robust public health spending and comprehensive protections against discrimination.”
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DPS Releases Final Ten-Year Telecom Plan
(July 18, 2021 – Vermont Business Magazine)
The Ten-Year Plan was developed in partnership with CTC Energy and Technology based in Maryland and VTTA member Rural Innovations Strategies, Inc based in Hartland, Vermont.
The 382-page Plan provides an overview of the current state of telecommunications services and facilities in the state, current trends in usage and adoption, and recommendations for improving access to broadband services throughout Vermont.
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NRG Systems Introduces Cloud-Based Monitoring Solution
(July 15, 2021 – NRG Systems)
NRG Systems, Inc., a designer and manufacturer of smart technologies for a range of wind, solar, and meteorological applications, and a VTTA member, announced the launch of NRG Cloud, a platform for remotely monitoring the company's measurement solutions. In addition to improving users' access to their fleet of operational wind and solar resource systems, NRG Cloud features a suite of data management services to simplify data retrieval and streamline storage workflows.
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Burlington Aerospace Startup Says Vermont Key to Company’s Growth
(July 14, 2021 – WCAX-TV)
A Vermont aerospace business is taking off, but this space tech company says it’s going to keep calling the Green Mountains home. Cat Viglienzoni visited Benchmark Space Systems shortly after their first satellite propulsion systems launched, to see why they say they’re a Vermont success story.
The July countdown in Florida was a moment where Benchmark Space Systems’ CEO Ryan McDevitt said his pulse was also skyrocketing. “I’ve seen a lot of rocket launches, and at this point, SpaceX is so good at it you kind of just relax, it’s going to be fine. When it’s got your hardware onboard, your heart is in your throat a little bit,” McDevitt said.
That’s because his company’s first products to head into space were on that rocket.
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Fast-growing national IT firm eyes Waterbury for a 100-employee office
(July 10, 2021 – Waterbury Roundabout)
A fast-growing national IT firm that’s been in high demand throughout the COVID-19 pandemic is looking to open a Northeast regional office with 100 employees, and Waterbury is one of the locations it’s considering.
MTX Group Inc., with offices in Albany, N.Y., and Frisco, Texas, already lists multiple state of Vermont agencies and departments among its many governmental contracts.
The company was on the Waterbury Select Board’s July 6 agenda with a request to town officials for a letter of support as it seeks state economic development incentives for its potential plans to locate a regional office in the state.
Municipal Manager Bill Shepeluk, in introducing the item to the select board this week, said the MTX proposal would involve 100 employees to start with the potential to more than double that to 250 over a 7-to-10-year period. The company is considering space in the Pilgrim Park commercial complex in downtown Waterbury left vacant after Keurig Dr. Pepper dramatically scaled back its presence here in recent years.
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Hula Transforms Lakefront Property into Tech-Savvy Space
(July 8, 2021 – WCAX)
It’s a vision to make Vermont the next Silicon Valley — Hula has re-imagined the former Blodgett Oven property into a technology-driven co-working campus to attract startup companies to the Burlington waterfront.
The Burlington coworking campus, business accelerator, and venture capital fund now has 65 companies specializing in everything from electric airplanes to vegan ice cream. Roughly 600 people work across the 150,000 square-foot campus. CEO Robert Lair says he believes Vermont is making a name for itself in the tech world and wants to draw as many high-powered companies to the city as possible.
“There are opportunities throughout the state with expanded broadband that we can attract tech workers and tech businesses,” said Jeff Couture of the Vermont Technology Alliance.
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Texas firm acquires Vermont's Aquana
(July 8, 2021 – Vermont Business Magazine)
Houston-based Geospace Technologies announced that it has acquired Aquana, LLC, a comprehensive wireless water monitoring and control system provider based in Warren, Vermont. Under terms of the agreement, Aquana will operate as a wholly owned subsidiary of Geospace Technologies. The company said in a statement that it intends to retain Aquana’s employees, further strengthening Geospace’s highly skilled technical workforce.
Founded in 2017, Aquana provides a leading Internet of Things (IoT) water management platform that delivers remote shut-off valve control, remote AMI meter reading, as well as leak and burst protection for municipal water utilities, multi-dwelling properties, and commercial buildings. Aquana combines connected smart valve hardware with cloud-based software in a Software as a Service (SaaS) recurring revenue model.
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Omega Optical acquires Spectral Systems
(July 6, 2021 – Omega Optical)
Omega Optical Holdings, LLC, a leading precision optics platform based in Brattleboro, announced that it has acquired Spectral Systems, LLC. Spectral is a leading designer and manufacturer of infrared optical coatings, components, and assemblies in the life science, analytical instrumentation, aerospace, and defense markets.
Spectral strengthens and expands Omega's existing thin-film optical capabilities into a range of infrared applications. Spectral will continue to operate from its existing facilities in Hopewell Junction, NY, Danbury, CT and Jaffrey, NH, as a business unit of the newly-formed Omega Infrared division.
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Vermont Technology Alliance Membership Update
The Vermont Technology Alliance works on behalf of its members and is able to carry out its mission through the support of its membership.
Renewing members: Dealer.com as an annual Leadership Member/Sponsor and Instrumart as an annual Partner Member/Sponsors. We appreciate the year-round support of our annual Member/Sponsors. You can see them all at the end of this newsletter.
Not a vtTA member yet? Then why not join now? Find more information here, or sign up at our new member registration page here. You can also contact us at admin@vtta.org.
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Useful Information & Links |
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Vermont Computer Science Teachers Association Welcomes Industry Participation at Aug. 16 Meeting
The Vermont Computer Science Teachers Association (CSTA) is holding it’s holding its summer gathering on Monday, August 16 from 10 a.m. – 3 p.m. at UVM in Votey Building Room 307. The event is open to anyone interested in Computer Science.
The current schedule includes the opportunity for representatives with industry to share information about their businesses or organizations. If interested in presenting, please email: info@vermontcsta.org
Current Schedule:
- 10 a.m. – Introductions
- 10:30 a.m. – Mix and Discuss – CSTA Student Standards/Teacher Standards
- 11:30 a.m. Flash Presentations – What’s happening in our Schools?
- 12:30 p.m. – Lunch
- 1 p.m. – Industry Presentations – What’s happening in Vermont?
- 1:30 pm. – Earning the CS endorsements
- 2 p.m. – PD Options
- 3 p.m. – quick raffle and conclusion
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Economic Recovery Bridge Program Opens to Additional Businesses
The Vermont Agency of Commerce and Community Development (ACCD) expanded eligibility for its Economic Recovery Bridge Program, starting July 2, 2021. ACCD is now accepting applications from organizations that have received prior State of Federal assistance.
Under the expanded guidelines, organizations that can demonstrate; 1) a 2020 tax loss; and 2) that the organization suffered a net loss when aggregating the results of their monthly profit and loss statements for the period from March 2020 – April 2021 including the amount of prior state and federal assistance, are eligible to apply. The Agency will continue to give priority to applicants who have not yet received any prior benefit. In addition, businesses in the tourism, travel, and hospitality industries will also be given priority.
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vtTA Career Center
Vermont Technology Alliance member companies are hiring, and when you visit the Career Center on the Vermont Technology Alliance website you can browse and search for these job openings and subscribe to updates. The Career Center typically has 150 - 200 tech and non-tech jobs with Vermont Technology Alliance member businesses and organizations. Jobs available from vtTA members are listed at no charge in the Career Center as a member benefit.
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The vtTA Thanks Its Member/Sponsors |
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