Tuesday, February 5, 2019
Posted by: Jeff Couture
Vermont economic development officials hold up Chroma as one of the state’s leading success stories. Founded in 1991 by co-workers who left their jobs at Omega Optical to start a competing business, Chroma, a Vermont Technology Alliance member, now employs 140 people and has offices in Europe and Asia.
Late last year, Chroma opened a 28,000-square-foot manufacturing expansion at its Rockingham headquarters. The $22 million for the expansion came from nearly $11 million in New Market Tax Credit financing, $1.1 million from state sources, a $9.5 million loan from the Vermont Economic Development Authority, and a loan from the town of Rockingham for $100,000. The company also put down $800,000 in equity.
The employee-owned company, which started with money from family and friends, reported revenues of $31.6 million in 2017. Chroma also owns a small company in Williston called 89 North that makes light sources for scientific instruments.
Paul Millman, Chroma’s co-founder and now its president, recently talked with VTDigger reporter Anne Wallace Allen about Chroma and where it is headed.