Worker Incentive Program Wins Senate Approval
Friday, April 19, 2019
Posted by: Jeff Couture
Vermont’s new remote worker incentive turns out to be a bargain, Sen. Randy Brock told his colleagues on the Senate floor.
The program, which reimburses new arrivals up to $10,000 for expenses if they move to the state for a new job, is quite affordable compared to some of the economic development efforts underway in other states, Brock said, shortly before the Senate approved a new version of the initiative as part of an economic development bill.
Vermont’s remote worker program, which started in January, has drawn 28 new workers and their families for a total of 69 new people, Brock said. All but four of these people are under 40, and eight of them have school-age children. The cost to Vermont so far: $3,619 per job, according to the Department of Economic Development, which oversees the program.
”We have done for peanuts what other people have spent millions of dollars to do,” Brock said.
The full Senate on Friday approved S.162, an economic development bill that authorizes the state to continue with an altered form of the reimbursement program. The program would include workers who move to the state for Vermont-based – not just remote – jobs, and the reimbursement would be $5,000, or $7,500 for people moving to high-need areas of the state. To ensure that the new workers were generating income, they would only receive payment when their income tax liability reached the amount of the claim.
Read the full Vermont Digger article.