The law will go into effect in 2019 and will be offered first-come, first-served.
Vermont is cutting a sweet deal for remote workers who relocate to the state. The state will then issue grants to newly-minted Vermonters up to $5,000 per year for two years for things like moving expenses, Internet access, or a computer.
According to state officials and the official summary of the new legislation, the financial incentive is meant to help cover a worker's moving costs and business expenses related to working remotely, such as for new technology.
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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.
"We recognize the need to recruit people to the state, and this is one of those efforts", Goldstein told CNBC.
Schirling said the incentive may be particularly helpful for couples considering a move to Vermont, when one spouse finds a job in Vermont but the other spouse would need to work remotely. "If quality of living, the beauty and recreation of four seasons and a warm, welcoming community are what you seek - not just living, but thriving in Vermont comes easily".
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In total, $125,000 in grants are available for 2019, $250,000 for 2020, and $125,000 for 2021.
Heck, I'll flatter myself: they're probably also coolwith the idea of some slightly graying GenXers moving to the Green Mountain state, as long as you work for someone else and help prop up its tax infrastructure. In return, the state is hoping to get a much-needed boost to its economy. That should please Scott, who notes the state has "about 16,000 fewer workers than we did in 2009", per CNBC.
According to CNBC, the policy is meant to address the aging population of the state.
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