Companies in Vermont: 20,841 employers, four public companies and a nonprofit-heavy economy

Vermont has the fewest business establishments of any state, and nonprofits employ nearly a quarter of its private workforce. Only four operating companies headquartered in the state file 10-Ks, and the largest of them hauls trash and recycling.

Market report6 min readPublished

Vermont had 20,841 business establishments with paid employees in 2023, employing 256,460 people, according to the Census Bureau: the fewest of any state. Chittenden County, around Burlington, has 27.2% of them. Nonprofits employ 23.4% of the private workforce. The public companies headquartered in Vermont are Casella Waste Systems of Rutland ($1.84 billion in 2025 revenue), BETA Technologies, Union Bankshares and Community Bancorp. The state's own financial report says it can't name its top employers.

  • 20,841 employer establishments in 2023, 51st of the 50 states and DC; 56.8% have one to four employees.
  • Nonprofits run 12.6% of establishments but employ 60,133 people, twice as many as manufacturing.
  • Health care and social assistance employs 18.9% of private workers, the largest sector.
  • Casella Waste Systems is the only Vermont-based public company with more than $100 million of revenue.
  • Vermont's 13 skiing facility establishments averaged 230 employees each in mid-March 2023.
On this page

This page is for anyone who needs to find, check or size up companies in Vermont: residents choosing a contractor, job seekers, suppliers and B2B sellers working out how much market there is in a small, rural state. It covers the counts by county, sector and legal form, the companies that file with the SEC, what the state publishes about employers, and how to look up a Vermont business.

How many businesses are in Vermont

The Census Bureau's County Business Patterns (CBP) for Vermont, all sectors, 2023:

MeasureVermont, 2023
Establishments20,841
Employees256,460
Annual payroll$14,356,950,000
Average employees per establishment12.3
Average annual pay$55,981
Share of US establishments0.25% (of 8,361,342)
Rank among the states and DC by establishments51
Employees at the establishmentEstablishments
1 to 411,831
5 to 93,897
10 to 192,696
20 to 491,605
50 to 99472
100 to 249246
250 to 49956
500 to 99925
1,000 or more13

That's 18,424 establishments with 1 to 19 employees, 2,077 with 20 to 99 and 340 with 100 or more. CBP counts locations with paid employees, not companies; it excludes the self-employed and government, and measures employment in the pay period including March 12, 2023, which in Vermont is the height of ski season.

CountyMain townEstablishmentsEmployees
ChittendenBurlington5,66588,131
WashingtonMontpelier, Barre2,11826,122
RutlandRutland1,94522,482
WindsorWhite River Junction1,92619,255
WindhamBrattleboro1,65719,316
BenningtonBennington1,25814,352
AddisonMiddlebury1,15813,471
FranklinSt. Albans1,10113,639

Chittenden County has 27.2% of the state's establishments and 34.4% of its private employees, and its workplaces are the largest, averaging 15.6 employees.

A nonprofit-heavy economy

CBP's state file splits establishments by legal form, and Vermont's split is unusual:

Legal formEstablishmentsShareEmployeesShare
S corporations9,26944.5%75,72429.5%
C corporations and other corporate forms3,97719.1%81,71531.9%
Sole proprietorships2,79613.4%9,9403.9%
Nonprofits2,62412.6%60,13323.4%
Partnerships2,10910.1%25,1579.8%
Other660.3%3,7911.5%

Shares are our calculation. Nonprofits employ almost as many Vermonters as all the state's C corporations, and twice as many as its 1,005 manufacturing establishments (29,246). Six of Vermont's 13 establishments with 1,000 or more employees are in health care or education. If you sell to large Vermont organizations, expect many of them to buy under nonprofit board and grant rules rather than corporate procurement.

What Vermont businesses do

Sector or industry (NAICS)EstablishmentsEmployeesAverage pay
Retail trade (44 to 45)2,93737,491$39,232
Construction (23)2,87015,177$69,775
Health care and social assistance (62)2,15048,409$61,154
Professional, scientific and technical services (54)2,07413,524$89,031
Accommodation and food services (72)1,91532,546$28,378
Manufacturing (31 to 33)1,00529,246$64,669
Finance and insurance (52)9419,218$97,941
Food manufacturing (311)2095,254$52,095
Breweries (312120)52854$42,508
Skiing facilities (713920)132,985$21,768

Average pay is our calculation from CBP payroll. Construction has almost as many establishments as retail, but 95% of them have fewer than 20 employees. Food and drink makers are a real cluster for a state this size: 209 food manufacturers and 52 breweries.

What the state publishes about employers

Vermont's Annual Comprehensive Financial Report for fiscal 2025 includes the usual statistical table on employment, but with a note: data for the specific businesses that are the state's top employers "is not available, due to confidentiality regulations," so it shows employment by industry instead. On the Vermont Department of Labor's figures in that table, the state averaged 343,000 nonfarm jobs in 2024: 287,000 private and 56,000 government (16.4%). Health care and social assistance was the largest industry, with 52,000 jobs (15.0%), followed by retail trade with 36,000.

So there's no official list to quote. CBP gives the shape instead: Vermont has 13 establishments with 1,000 or more employees and 25 with 500 to 999, and three of the 13 are in health care and three in education.

Public companies headquartered in Vermont

CompanyHeadquartersRevenue, 2025What it does
Casella Waste SystemsRutland$1.84 billionSolid waste collection, recycling and disposal
Union BanksharesMorrisville$54.5 millionParent of Union Bank
Community BancorpDerby$48.8 millionParent of Community National Bank
BETA TechnologiesSouth Burlington$35.6 millionElectric aircraft and charging

Each figure is from the company's 10-K for 2025, with the headquarters from its cover page. The two banks' figures are net interest income plus noninterest income: $43.0 million plus $11.5 million for Union Bankshares and $40.9 million plus $7.9 million for Community Bancorp. EDGAR also lists Burlington addresses for Teucrium's commodity funds, which are exchange-traded trusts rather than operating companies, and a few very small filers.

How to look up a Vermont business

SourceWhat it's for
Vermont Secretary of State business searchRegistered corporations, LLCs and other entities, searchable by business name or record number
Office of Professional RegulationLicenses for regulated professions and trades
Vermont Business Registry and Bid SystemState, federal, municipal and private bid opportunities, and a searchable registry of Vermont vendors
Vermont Chamber of CommerceThe statewide business association
ThinkVermontThe Agency of Commerce and Community Development's business and relocation site

The Secretary of State search confirms that an entity exists and is active; for a contractor, also ask for proof of insurance and check any trade license with the Office of Professional Regulation.

Prospecting Vermont's food and drink makers

Illustrative example. The company, prices and results are fictional; the counts are from CBP 2023.

Green Mountain Fulfillment (greenmountainfulfill.example) packs and ships online orders for specialty food brands.

  • Food manufacturers (NAICS 311) with 10 to 99 employees: 35 + 19 + 13 = 67.
  • Beverage manufacturers (NAICS 312) with 10 to 99 employees: 9 + 9 + 7 = 25, for 92 in all.
  • It assumes 40% sell direct to consumers online: about 37 brands.
  • Winning 7 at an average of $30,000 a year in fees is $210,000.

The buyer is the owner or the operations lead, and the trigger is the fourth quarter, when gift orders swamp a small packing room. Finding which of the 92 sell online, and how much, is the research Bebop does for each company on a list.

Email to the owner of a Vermont specialty food brand
Subject: Holiday orders at [Company]

Hi [first name],

Every December, Vermont food makers tell us the same thing: the online orders are great, and packing them pulls the whole team off production.

We store, pack and ship direct-to-consumer orders for Vermont food and drink brands from a warehouse in [town], with cold packing for cheese and next-day pickup. Could I send pricing based on last year's order volume?

[Your name], Green Mountain Fulfillment

Next step: for the state's builders and trades, see construction companies in Vermont.

Sources

Written by the Bebop team at Blackpearl Group. Published .

Questions people ask

How many businesses are in Vermont?

The Census Bureau counted 20,841 business establishments with paid employees in Vermont in 2023, employing 256,460 people: the fewest of the 50 states and DC. The count covers locations with a payroll, so it excludes the self-employed and government. Chittenden County, around Burlington, had 5,665 of them.

What are the biggest companies in Vermont?

Among public companies, Casella Waste Systems of Rutland is by far the largest, with $1.84 billion of revenue in 2025 according to its 10-K. The others headquartered in Vermont are Union Bankshares of Morrisville, Community Bancorp of Derby and BETA Technologies, the South Burlington electric aircraft maker, each with under $60 million of revenue. Most of the state's large employers are private companies or nonprofits.

Who are the largest employers in Vermont?

Vermont doesn't publish a ranked list. Its fiscal 2025 financial report says data on the specific businesses that are its top employers isn't available because of confidentiality rules. By industry, health care and social assistance is largest, with 52,000 jobs in 2024 on Vermont Department of Labor figures, and government employs 56,000. Nonprofits employ 23.4% of private workers in the Census Bureau's count.

How do I look up a business in Vermont?

Use the Vermont Secretary of State's online business search, which covers registered corporations, LLCs and other entities by name or record number. For licensed professions, check the Office of Professional Regulation. To find Vermont suppliers or public bid opportunities, use the Vermont Business Registry and Bid System.

What industries is Vermont known for?

By employment, Vermont's largest private industries are health care (48,409 employees in 2023), retail (37,491), accommodation and food services (32,546) and manufacturing (29,246), according to the Census Bureau. It has 209 food manufacturers and 52 breweries, and its 13 skiing facility establishments employed 2,985 people in mid-March 2023.

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