Vermont Will Pay You $10K To Live There And Work From Home

Mae Love
June 4, 2018

Gov. Phil Scott signed a bill on Wednesday that will pay remote workers to move to Vermont. In March, Governor Scott and the Vermont Department of Tourism and Marketing announced the so-called Stay-to-Stay initiative, which is meant to help tourists relocate to the state. 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. She said her office is already getting inquiries from interested workers.

"We have about 16,000 fewer workers than we did in 2009", Scott said in a statement, according to CNBC.

The program will begin on January 1, 2019 and is available to people out of state who are employed full-time with a company based outside of Vermont but work at home or a co-working space. The state is allocating a maximum of $125,000 for the 2019 fiscal year, and $250,000 a year after.

The labor market in the US has thrived of recent, making it very hard for businesses to retain workers.

Results from the 2016 Current Population Survey Annual Social and Economic Supplement showed that 11.2 percent of the USA population moved between 2015 and 2016.

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Companies are more creative and generous when competing for the best possible talent available. Some have been increasing pay and changing payroll practices, while others are beefing up benefits, like offering help paying down student loan debts and flexible schedules.

The state is working out some details of how the program will run, Goldstein said.

The state has budgeted grants for about 100 new remote workers in the first three years of the programme and about 20 additional workers per year for every year thereafter, the Quartz reported. "We need more people".

"You will have to pay income tax in Vermont even if you earn it outside of the state", said Goldstein.

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