Chroma Technology to Expand in Southern Vermont

Bellows Falls, VT – The Brattleboro Development Credit Corporation and the Town of Rockingham have announced a development project with Chroma Technology Corp. of Bellows Falls. A successful development process will see Chroma add a 40,000 sf expansion and upwards of 26 new jobs to their existing Imtec Drive location.

“This is a wonderful result after several years of collaboration and discussion with the Town of Rockingham, the Bellows Falls Area Development Corporation and Chroma about the possibilities of relocation or expansion,” said Rockingham Town Manager Willis “Chip” Stearns. “We are pleased Chroma has made this decision and the Selectboard supports this project.”

Chroma Technology Corp. is an employee-owned company and a leading manufacturer and designer of sputter-coated optical filters and optical filter sets for the ultra-violet, visible and near-infrared portions of the spectrum, including bandpass, longpass, shortpass filters, beamsplitters, dichroic mirrors and laser rejection filters used in applications such as fluorescence microscopy, raman spectroscopy, astronomy, multicolor FISH and machine vision for markets such as life science, industrial, military and defense.

“After several years of steady growth Chroma has been experiencing another surge in demand for our products,” said Paul Millman CEO and President of Chroma. “Our sales grew by over 20% last year. Our capacity needs to grow to meet this demand. We originally wanted to relocate in downtown Bellows Falls but ultimately concluded that we would not be able to do so on a timeline that would meet our needs. We’re an employee-owned company and as such feel a deep connection to the community we operate in. We didn’t want to leave our community so we chose the next best option of expanding at our current location. As employee-owners, and as a B corporation, our decision making is informed by more than just financial considerations. Our decision to expand reflects our commitment to meeting our customers’ needs. Choosing to expand at our current location reflects our commitment to the community and to our employees.”

The total combined investment in the expansion project is expected to be in the $18 – $19 million dollar range. A number of private and public financing tools will be utilized including a $100K loan from the Town of Rockingham and a $350K Community Development Block Grant application recently made by the Town of Rockingham on Chroma’s behalf. Chroma has applied for approximately $750K in Vermont Employment Growth Incentive program (VEGI) funding which requires maintaining base payroll and employment, creating incremental, qualifying payroll and jobs and making qualified capital investments prior to receiving the incentive. An application for New Market Tax Credits, and Windham County Economic Development Funding is also expected.

“We are pleased to have this opportunity to be working with the town of Rockingham and the BFADC, to ensure this critical Chroma expansion in Rockingham happens,” noted BDCC Executive Director Adam Grinold. “Chroma has been a leading innovator in the optics and filters field for twenty-five years. This project is required for the company to remain competitive in a global marketplace. BDCC is providing leadership in efforts to identify and assemble a number of appropriate federal, state and local supports to accommodate the decision by Chroma to expand in Vermont. Similar to the development project we coordinated for G.S. Precision, Inc. the Chroma project is further demonstration of the region’s increased capacity for financing and developing very large projects.”

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About Chroma: Chroma Technology Corporation’s mission is to provide the best products and solutions for our customers’ ever-changing needs. To that end we develop lasting relationships with our customers by providing applications expertise and exceptional customer service. Chroma Technology is 100% employee-owned: each employee has a share of the responsibility for Chroma’s success, and each earns a fair share of the rewards. We value the economic and social needs of the individual as well as the needs of the company as a whole. This is how we create the committed, involved and healthy employee body that is key to achieving our mission. Chroma Technology is an active and caring member of the community in which we live as well as the scientific and technical communities that we serve. We give back to these communities by providing jobs, offering financial support to local non-profit service agencies, sponsoring educational opportunities for students of science and technology, and promoting employee ownership.

Founded in Brattleboro, Vermont, in May 1991, Chroma quickly established itself as a leader in filter designs. From its inception, Chroma has worked closely with the community of molecular and cell biologists worldwide to develop the best possible solutions to applications requiring fluorescence filters. As an employee owned company, Chroma has grown from seven employees in its first year of business, to over 100 employees with offices in Europe and Asia today. Chroma’s filters are distributed worldwide, through all manufacturing occurs in the United States.

About BDCC: BDCC is a private, nonprofit economic development organization that serves as a catalyst for industrial and commercial growth throughout Southeastern Vermont, including Windham County and the towns of Readsboro, Searsburg, and Weston. The primary objective of BDCC is to create and retain a flourishing business community in the Windham Region that supports vibrant fiscal activity, and improves the quality of life of all its residents. BDCC is affiliated with the State of Vermont as the certified Regional Development Corporation (RDC) serving the greater Windham County area.
For more info contact:

BDCC Executive Director Adam Grinold (802) 257-7731 ext. 224

Town of Rockingham Town Manager Willis “Chip” Stearns (802) 463-3964, ext. 104
Chroma Technology Founder Paul Milman (802) 428-2532