Vermont's economy and history are distinctive, with key facts reflecting its unique character. As of recent data, the University of Vermont Medical Center, with approximately 8,000 employees, is the state's largest employer, surpassing IBM, which once held the top spot with around 5,300 employees in Essex Junction, focusing on semiconductor development. Ben & Jerry’s, a well-known Vermont brand, employs about 735 people, far fewer than the state's leading employers. Vermont was the last U.S. state to have a Wal-Mart, with the first store opening in Bennington in 1996. Montpelier, the smallest U.S. state capital with under 9,000 residents, remains the only state capital without a McDonald’s, reflecting Vermont’s strict regulations on commercial signage and development. According to the U.S. Small Business Administration, Vermont had approximately 79,000 small businesses in 2023, contributing significantly to the state’s economy. Historically, Vermont joined the Union as the 14th state on March 4, 1791, after 14 years as an independent republic, notable for being the first state to abolish slavery in its constitution.
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