Logic Supply, a South Burlington-based industrial computer company, has been initially approved for a Vermont Employment Growth Incentive by the Vermont Economic Progress Council.
The Vermont Employment Growth Incentive (VEGI) is an economic incentive program for Vermont business growth and expansion. VEGI provides cash payments based on the return generated to the State by job creation and capital investments, to businesses that have been authorized to earn the incentive and meet performance requirements.
On April 25, 2013 the Vermont Economic Progress Council (VEPC) voted to authorize Logic Supply for the VEGI incentive. Conditioned on hitting performance benchmarks, $300,000 will be awarded to Logic Supply over nine years. Final approval of the incentive is expected later in 2013.
‘This is exactly the kind of company and project that has helped keep Vermont’s economy growing,’said Lawrence Miller, Secretary of Commerce. ‘Logic Supply was founded and grown in Vermont, but is competitive globally and the VEGI program is one way we can help ensure that Logic Supply’s success means investment and good jobs for Vermonters.’
‘The State of Vermont has been an incredible resource to Logic Supply and assisted our growth over the years. We are thrilled to work with the VEPC going forward as we continue to add new high tech jobs and contribute to Vermont's overall economic expansion’said Logic Supply’s Co-Founder and COO, Lisa Groeneveld.
Logic Supply was founded in 2003 by Roland and Lisa Groeneveld to serve an expanding market for small-form-factor, rugged computers. Though they started in Boston, in 2004 Lisa and Roland moved the business to Vermont to be closer to Lisa’s family in Barre. The business has grown steadily over the years. To date, Logic Supply has served over 50,000 customers. In 2010, Logic Supply opened a dedicated office in Taipei. In 2011, Logic Supply began operations in Europe, based in the Netherlands. The company employs nearly 50 people in its Vermont USA headquarters.
Logic Supply computers are typically used in specialized, single-purpose systems. They power kiosks and digital signs, control pieces of machinery and medical equipment, and serve in monitoring devices of all kinds. Local Vermont customers include Draker Solar, Champlain Orchards, Veedims, and Pwnie Express.
The VEGI incentive was a necessary component for the addition of new, high paying jobs in Engineering, Computer Production, and related positions needed to meet the company’s ambitious growth targets for the future. Logic Supply expects to break ground on a $2 million expansion for their current building in early May, 2014.
About Logic Supply
Logic Supply is a specialized systems provider serving the embedded and industrial computing market. With locations in the USA, Europe, and Asia, Logic Supply provides pre-configured small form factor systems, the most comprehensive selection of compatible components, and unique computer hardware.Through LGX Systems, the company offers custom engineering services and develops innovative, rugged hardware products. Visit the Logic Supply website at www.logicsupply.com or visit the Logic Supply EU website at www.logicsupply.eu.
June 17, 2013 - Logic Supply
Logic Supply receives initial approval of $300,000 from Vermont Employment Growth Incentive Program
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