Vermont offering to pay telecommuting workers $10000 to move to the state

Warner Bros. Entertainment

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The first-come, first-served remote worker grants are only available to new residents who relocate on or after January 1, 2019.

The policy is created to address Vermont's rapidly aging population, according to CNBC.

More than 13 million people visit Vermont on a yearly basis, Quartz reported, and the state is hoping it can convince some of them to stay in the state more permanently. Well, thanks to state officials, you've officially got 10,000 more reasons to make the move. On Wednesday, Vermont passed a law that will pay people $10,000 to move to Vermont and work remotely for an out-of-state employer.

One of the bill's sponsors, Senator Virginia Lyons, said the law was aimed at bringing new workers into the state who will become productive members of their communities.

Vermont has a small and aging population, according to Joan Goldstein, commissioner of economic development for Vermont.

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The act, which pertains to the promotion of remote workers and remote work arrangements, was signed to legislation on May 30 by Vermont Governor Phil Scott.

The program would peak in 2020, when the state has been authorized to spend up to $250,000 on the incentives. The funds-a maximum of $5,000 a year or $10,000 total-can be used to pay for moving costs and other expenses, such as broadband internet or membership in a co-working space.

"This is a piece of a much larger puzzle", Michael Schirling, the commerce secretary, told The Burlington Free Press.

"Lots of people are interested in moving to Vermont, and this is a way to recruit them to the state", Goldstein said. Alaska uses oil royalties to pay its residents to live in the state. "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". The initiative, announced in March, aims to convert tourists into full-time residents.

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