The initiative hopes to address this problem by recruiting new residents—often young—who will be required to pay income tax in Vermont once they’ve relocated.
Vermont is introducing a creative way to make its population a little less grey.
Gov. Phil Scott on Wednesday that will pay remote workers to move to Vermont. Starting in 2019, those who move to Vermont and work remotely for an out-of-state employer will be eligible to receive $10,000 over two years from the Vermont government to cover expenses such as relocation fees, a coworking space, a computer, or Internet connectivity.
Vermont has a small and rapidly aging population—and with that, a shrinking tax base. The initiative hopes to address this problem by recruiting new residents—often young—who will be required to pay income tax in Vermont once they’ve relocated.
The grant is available on a first-come first-served basis for the first 100 people who relocate on or after Jan. 1, 2019. According to , the state has only budgeted for a total of 100 people in the first three years of the program, with plans to allocate funding for an additional 20 workers in subsequent years. To be eligible, you not only have to become a full-time resident only after the start date, but also must be employed full-time by an out-of-state employer.
For those who don’t have a job they can move to Vermont, the state has another option: a program called “.” The initiative, announced in March, aims to convert tourists into full-time residents. During four weekends in April, June, August, and October, the state will give tourists the opportunity to meet with employers, entrepreneurs, and realtors to learn more about relocating.