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Vermont will pay remote workers $10000 to move there

03 June, 2018, 03:39 | Author: Lawrence Cooper
  • Want to Work From Home? This U.S. State Is Paying People $10,000 to Move There and Do It (You Have 7 Months to Get Ready)

But there are several catches - you must work remotely, and the money can only be used on certain expenses, including relocation costs, computer equipment and software, internet access and co-working memberships, reports CNN Money. They're available on a first-come-first-served basis.

"The intent is to spread it to as many people", said Joan Goldstein, commissioner for the Department of Economic Development.

The new grant program comes about two months after Vermont announced another effort to draw workers to the state, which in 2017 had a population of around 624,000.

Interested workers better act fast. 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.

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Under the terms of the bill, a new remote worker is eligible for this grant if their expenses do not exceed $5,000 per year. The cap increases in 2020 to $250,000, then drops back down to $125,000 in 2021. In return, the state is hoping to get a much-needed boost to its economy. Government data also shows people are moving less than they have in the past. 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 law defines a qualifying worker as working primarily from a Vermont home office or co-working space and employed full-time by an out-of-state based company.

One of the bill's sponsors, Senator Virginia Lyons, said the law was aimed at bringing new workers into the state who will become productive members of their communities. "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".

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