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Pillar: Innovation & Entrepreneurship

Emerging industries and innovation in established sectors, new and small businesses, and the activities and investments that fuel innovation and job creation.

Target: By 2040 the number of mid-sized businesses (20-499 employees) will have grown by 25%

Status: Growth of mid-sized businesses has flat-lined at approximately 1.8% since 2015.

Recommendations for Change: The Vermont Futures Project published recommendations for this pillar in October 2019.

Explore the Data: Each of the data points below create an overall picture of Vermont’s innovation and entrepreneurship activity. Email us with questions, comments and suggestions at

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Innovation & Entrepreneurs
Economic Activity
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  • New Firm 5-Year Survival Rate (2018)
    Innovation & Entrepreneurship
    39th in the U.S.
    Business Dynamic Series Census (BDS)
  • 27% of Employment
    Small Business Employment
    (Establishments with < 20 workers)
    U.S. Census Statistics of U.S. Businesses (SUSB)
    17% is U.S. average
  • R&D "Intensity" Spending
    as a Share of GDP (2012)
    Innovation & Entrepreneurship
    30th in U.S.
    National Science Foundation
  • 3,012
    High Tech Related Firms (2017)
    QCEW of BLS
    Increase from previous year
  • 2017 Commercial Grand List
    Economic Activity
    $12.35 Billion
    Down 7% from 2015
    Vermont Department of Taxes
  • Foreign Exports 2017
    Economic Activity
    $2.8 Billion
    Origin of Movement Series of Census
    down 7.3% from previous year
  • GDP per capita
    Economic Activity
    RANK: 50th in the U.S.
    Bureau of Economic Analysis 2015
  • Job Creation Rate in 2016
    Economic Activity
    Down 12.6% from previous year
    U.S. Census Bureau, Business Dynamics Series
  • Non-Farm Employment Gain 2016-2017
    Economic Activity
    Vermont Department of Labor
    up 1% Burlington/
    up 1% non-BTV since 1998
  • Mid-sized Firms 2018
    (20-499 Employees)
    Economic Activity
    U.S. Census Bureau, Business Dynamics Series
    Down by 0.5% from previous year