The Green Mountain State has a small and rapidly aging population.
In the coming months, people will be able to apply via Vermont's Agency of Commerce and Community Development, which is still finalizing some of the program's details.
To qualify for the new program, you must work remotely and full time for a business not located in Vermont and establish state residency by January 1, 2019.
The state will award the grants on a first come, first serve basis and has allocated an amount of $500,000 for the next three years to the same objective, the AP report said.
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.
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. The Remote Worker Grant Program would take care of the relocation and other expenses. While that only seems like enough money for 25 people, Senator Michael Sirotkin told The New York Times that he could see grants going to as many as 100 people next year, since most workers will have less than $5,000 in annual resettlement expenses.
In 2020, this system is predicted to obtain as much as $250,000, then $125,000 in 2021.
The state is working out some details of how the program will run, Goldstein said. The initiative, announced in March, aims to convert tourists into full-time residents.
Lyons said that while the new grant program wasn't specifically designed with age in mind, "certainly having a younger population is a good thought".