Chroma Named Deane Davis Outstanding Business of the Year
Tuesday, June 9, 2020
Vermont Business Magazine and the Vermont Chamber of Commerce announced that Chroma Technology Corp of Bellows Falls as the winner of the Deane C Davis Outstanding Business of the Year Award, 2019.
In these unprecedented times with the Covid-19 pandemic, Vermont Business Magazine and the Vermont Chamber decided to have the judges pick only the winner and not the top three finalists. There will be no formal presentation of the award and the plaque will be presented to Chroma Technology Corp in a safe manner for everyone.
“Chroma has shown great merit for the Deane C Davis Award. Like Davis himself—former governor, president of National Life of Vermont, and environmentalist—Chroma reflects Vermont’s diverse nature and, at the same time, radiates a savvy business sense” commented John Boutin, Publisher of Vermont Business Magazine.
“Chroma Technology’s designation as the winner of the Deane C. Davis Outstanding Business of the Year is a culmination of many years of success as a leading advanced manufacturer in Vermont. It’s great to see a local company grow to such success in our state,” said Betsy Bishop, President of the Vermont Chamber of Commerce.
A 100 percent employee-owned company, Chroma Technology produces optical filters for the scientific, biomedical, photonics and imaging and detection industries. The filters and mirrors that Chroma manufactures are used in microscopes, DNA sequencers and clinical diagnostic devices, among other applications.
Chroma, a Vermont Technology Alliance member, was founded in 1991 by six people who believed that it was possible to do well in business by doing good. Six people who believed that sharing ownership broadly within a company was the right thing to do and made good business sense.
Chroma’s growth from a small shop in a rented incubator space in Brattleboro serving a handful of individual scientists to an almost $40 million company with over 130 employees and customers all over the world has proven them right.
As owners, the employees share in the company’s profits and amass equity as the company’s value increases over time.
In the past two years, Chroma opened a new $22 million expansion in Bellows Falls that promised to add or retain 133 jobs in the town. Chroma has a worldwide customer base with established offices in Europe and Asia.
“Chroma Technology is the 2019 Deane C. Davis Award winner, not only due to its commitment to its employees and the environment, but because it does that in a way that represents Vermont well”, said Boutin.
The criteria for this Award include:
- Growth in sales or employment.
- Commitment of company resources for participation in community projects.
- Encouragement of employees to be involved in community events.
- Recognition of the importance of the environment to the state as a natural and economic resource.
- Addressing employee concerns/needs to create a positive work environment for all employees.
Nominated businesses must have been based in Vermont for at least 10 years.
This annual award honors a Vermont business that shows an outstanding history of sustained growth while displaying an acute awareness of what makes Vermont unique. The award, named for the former governor of Vermont, was created 30 years ago by Vermont Business Magazine and the Vermont Chamber of Commerce to recognize and honor the state’s best companies.
Source: Vermont Business Magazine