Chroma Technology Corp.
VEDA approved a $1.5 million loan to Chroma Technology Corporation as part of the company’s $21.7 million expansion in Bellows Falls. Chroma had reached its production capacity at its Rockingham facility, requiring a 25,000 square-foot expansion, as well as the purchase of new machinery and equipment to accommodate changing and expanding needs in the manufacturing processes. Founded in 1991, Chroma is an employee-owned company of 129 people (120 of those Vermont-based) producing high-performance optical filters for the world’s leading microscope manufacturers, life sciences analytics instruments, science and research laboratories, and other optical equipment applications. People’s United Bank also provided financing for the project, as did US Bankcorp Community Development Corporation, the Brattleboro Development Credit Corporation and the Town of Rockingham. Additionally, a Community Development Block Grant and New Market Tax Credits issued through Housing Vermont/Vermont Rural Ventures and Massachusetts Housing Corporation were utilized to fund the project. Chroma expects to add fifteen additional jobs within two years of project completion, and 28 new jobs within five years.