The money can be spent on qualified expenses such as rental and relocation costs, computer equipment and software, internet access, and co-working space memberships. In order to become eligible, applicants must become full-time residents of Vermont after January 1, 2019.
The money will be available on a first-come, first-served basis.
But maybe you need a little extra incentive to make the switch and try to convince your boss to let you work from home. The legislature has appropriated $500,000 for the program, which is still being designed, said Joan Goldstein, commissioner of economic development.More news: Zinedine Zidane leaves Real Madrid after third Champions League title
"We think Vermont is well-positioned to capitalize on the increase in the availability of remote work", Michael Schirling, secretary of the Vermont Agency of Commerce and Community Development, tells the Burlington Free Press.
The law defines a qualifying worker as a person who works primarily from a Vermont home office or co-working space and is employed full-time by a company that is based outside the state.
"The 1948 estimate shows 6.4 percent moved to a different county or state". In return, the state is hoping to get a much-needed boost to its economy.More news: Justin Trudeau: Donald Trump's comments on Canadian steel industry 'insulting'
Under the terms of the bill, a new remote worker is eligible for this grant if their expenses do not exceed $5,000 per year.
"We have about 16,000 fewer workers than we did in 2009", Scott said in a statement, according to CNBC. The state is allocating a maximum of $125,000 for the 2019 fiscal year, and $250,000 a year after. Governor Phil Scott signed the legislation on Wednesday.
Picturesque Vermont has a shrinking population and this effort is targeted at changing those demographics. The initiative, announced in March, aims to convert tourists into full-time residents. Visitors who plan their trips during one of the four designated weekends from April to October can network with employers, entrepreneurs, and realtors.More news: American Cancer Society urges earlier testing for colon cancer
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