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October 26, 2018

Will Vermont really pay you to move there?

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Currently employed remote workers who move to Vermont could receive as much as $10,000 from the state government.

Moving is a significant expense for many people, both in terms of the financial cost and the amount of time and effort that goes into planning and executing the move and all the tasks leading up to it. What would you say if you heard one state is offering Americans across the country as much as $10,000 to make the move?

Vermont announced a plan in the summer of 2018 that does just that, giving qualified new residents a significant payment to live in the Green Mountain State once they meet certain qualifications. Let's look at what it takes to receive that payment and the attention the state has received in the wake of the announcement.

The details of Vermont's plan to pay certain new residents

"Vermont will pay some new residents as much as $10,000."

There are a few important requirements to keep in mind about Vermont's plan to pay some new residents to set up their homes in this bucolic, northern New England setting, as CNN pointed out. Although it's not necessarily hard to qualify for these terms, they simply won't apply to everyone considering a move to Vermont.

New residents must be full-time employees of an employer that is based outside Vermont's borders, commit to living in the state long-term and plan to work outside of a traditional office to qualify for the payment plan. The plan is already established law, as it was signed by Gov. Phil Scott at the end of May.

CNBC said the money will be provided as a grant that can be used to cover moving costs as well as expenses tied to setting up a new home, purchasing work-related software and internet access and renting space in a co-working facility. The plan has enough funding to attract a number of new residents, with $500,000 available across the first three years of the initiative.

Low population one main reason for Vermont's offer

Vermont is one of the least-populated states in the country, with slightly more than 620,000 residents and ranking only above Wyoming in terms of total number of inhabitants. While its population density - a more accurate method of comparing large and small states - places Vermont 30th in the nation, the state government believes there's plenty of room to increase its working-age population.

"We have about 16,000 fewer workers than we did in 2009," Scott said in a statement about another state program to encourage migration to Vermont, shared by CNBC. "That's why expanding our workforce is one of the top priorities of my administration. We must think outside the box to help more Vermonters enter the labor force and attract more working families and young professionals to Vermont."

Living in Vermont means plenty of access to beautiful landscapes, quiet environments and local focus of commerce. Although the state generally de-emphasizes national chain stores - it has just one Target, for example - residents take pride in the locally owned and, frequently, locally sourced nature of stores and restaurants. The Burlington Free Press offered a primer for prospective residents that offers a deeper look at Vermont's unique culture.

Although the Green Mountain State will happily subsidize moving costs for some new residents, you'll still need reliable, dependable movers and packers to get you there. To learn more, get in touch with Atlas today!