Vermont offers to pay remote workers $10,000 to move to state

Vermont offers to pay remote workers $10,000 to move to state

Vermont offers to pay remote workers $10,000 to move to state

Its governor this week signed a law to spend that kind of cash recruiting between 300 and 1,000 people to move there, provided they have remote working jobs with out-of-state companies.

Calling all remote workers: Vermont has a deal for you. The money can be spent on qualified expenses such as rental and relocation costs, computer equipment and software, internet access, and co-working space memberships. Alaska uses oil royalties to pay its residents to live in the state.

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Vermont's population is flat or slightly shrinking.

State officials have already been overwhelmed with the response to the moving incentive program.

Grants will be distributed on first-come, first-served basis, and recipients will receive $10,000 over two years.

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The first three years of the program can cover about 100 workers, with 20 more people added per year after that.

"You will have to pay income tax in Vermont even if you earn it outside of the state", said Goldstein. Scott signed the bill Wednesday. It takes effect as of January 1, 2019. Current residents aren't eligible, according to the Burlington Free Press.

The cap rises to $250,000 in 2020 and then drops back down to $125,000 in 2021.

Knight said they have more work to do to turn the idea into a successful program. "The whole idea of getting more people is because we need to broaden the tax base ... but if you are moving from NY, taxes are less here".

The law Scott signed this week also includes a program created to convert some of the state's 13 million annual tourists into permanent residents. Through this program, people who visit Vermont during certain weekends from April to October have the opportunity to network with local employers, entrepreneurs, and realtors.

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