June 1 (UPI) — Vermont Gov. Phil Scott signed a bill on Wednesday that will offer remote workers in other states $10,000 to move there.
The program will begin on Jan. 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 $10,000 is designed to go toward moving costs and other expenses needed to set-up a remote-working location, including computer equipment, but will be paid in two installments of $5,000 annually for two years.
Vermont leaders hope the deal entices internet-based employees to move to the Green Mountain State.
“We think Vermont is well-positioned to capitalize on the increase in the availability of remote work,” said Michael Schirling, secretary of the Vermont Agency of Commerce and Community Development, according to the Burlington Free Press.
The state has allocated $500,000 for the program with a cap of $125,000 per year. About 25 remote workers each year will be able to benefit.
Joan Goldstein, commissioner of economic development for Vermont, said one motivation behind the program is Vermont’s aging population.
“We recognize the need to recruit people to the state, and this is one of those efforts,” Goldstein told CNBC.