In May of 2018, Vermont Governor Phil Scott signed a
bill funding a state initiative that offers $10,000 to people willing to move
to Vermont and work remotely for an out of state employer.
As of January 1st, 2019, the Remote Worker Grant
Program is accepting applications.
At the program's inception, Vermont budgeted funds
to support 100 grants for the first three years and 20 additional workers each
year from then on. Grant recipients can receive $5,000 a year over two years
and will be chosen on a first-come, first-served basis. These grants can be
used to cover moving, living and working expenses, including relocation,
computer software and hardware, broadband internet and access to a co-working
space.
So far, the application for the Remote Worker Grant
Program has been downloaded thousands of times, but no completed applications
have been submitted.
"We expect to be oversubscribed," Joan
Goldstein, Commissioner of the Vermont Department of Economic Development,
tells CNBC Make It. "It's first-come, first-served, so in the order of
receipt of completed application, until the money runs out. And if the money
runs out, we are hoping to get more funding so that people are not discouraged
from applying."
In order to apply, interested workers need to
provide verification that they are employed by an organization outside of the
state of Vermont and that they have moved and are now a resident of Vermont. To
receive reimbursement for their expenses, members of the program simply submit
invoices. (Those interested in applying can learn more here.)
"It's not an onerous application by any
stretch. It's pretty simple and straightforward," says Goldstein.
While Vermont may be rich in beautiful landscapes
and maple syrup, it has a rapidly shrinking tax base, and the initiative is
intended to address the state's aging population.
"It's an acknowledgement that we need more
people in this state," says Goldstein. "We need to share the tax
burden. It's as simple as that. We are a small state with a small population
and we are one of the oldest states in the nation."
According to the Burlington Free Press, the national
median age has increased by roughly five years, to 37.8, over the past several
decades while the median age in Vermont has increased by 10 years.
Vermont legislators expect a "significant
return" from their investment in the Remote Worker Grand Program in the
form of property taxes, payroll taxes and sales taxes.
"There are several multipliers of people living
in the state and spending money in the state. It helps relieve tax burden and
share it among more people rather than less," explains Goldstein, citing
good public schools, low crime, outdoor activities and tight knit communities
as factors that make Vermont a great place to live.
The program also capitalizes on an increasingly
common trend — telecommuting.
Working from home is more popular — and common —
than ever. According to Gallup's "State of the American Workplace"
survey, 43 percent of working Americans occasionally work remotely and over a
third of workers would change jobs for the opportunity to do so.
"Work is very portable, much more so now than
ever before in history," says Goldstein. "People take their jobs with
them wherever they travel. Why not make Vermont your permanent home and bring
your job with you?"
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