Gov. Phil Scott signed the bill into law on Wednesday.
The bill, signed by Vermont governor Phil Scott, has budgeted grants for almost 100 new remote workers in the first three years of the program, and 20 additional workers per year for every year after.
Starting in January 2019, Vermont will pay $10,000 over two years to a small number of remote workers who move there - money that will help cover costs for relocation, computer software and hardware, internet access, and membership to co-working spaces. University of Vermont associate professor of economics Art Woolf provided the Burlington Free Press with the current statistics for the median age of the state.
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For 2019, total grants can not exceed $125,000.
The US labor market has been thriving recently, making it hard to retain workers.
Results from the 2016 Current Population Survey Annual Social and Economic Supplement showed that 11.2 percent of the US population moved between 2015 and 2016.
Companies have been getting more generous and creative to compete for talent. Some have increased pay and changed payroll practices, and others have increased employee benefits, such as offering to pay a student loan down or offer flexible schedules. That's why expanding our work force is one of the top priorities of my administration.
The new program comes as Vermont, like other rural states, faces an economy where high-paying jobs are increasingly found in expensive cities. "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".