The Economic Engine of Vermont. Essex Junction is the long-time home of an IBM microchip plant, Vermont’s largest private employer with over 7,000 employees. IBM’s overall impact on the Vermont economy has been estimated at a whopping $1 billion. For Essex Junction, this has translated into outstanding local community services and recreational opportunities, as well as a strong real estate market. Not to be missed are major events at the Champlain Valley Exposition, which hosts the annual Balloon & Music Festival, the annual end-of-summer Champlain Valley Fair, as well as concerts by American music legends like Willie Nelson and Bob Dylan. Essex Junction also maintains one of the most active train stations in the area, serving as a hub for daily freight and passenger trains running between New York City, Montreal, and further points.