Vermont will pay you $10,000 to move there and work from home

Autumn colours starting to show in a forest near a lake in Vermont

Current residents aren't eligible.

So, you can't move to Vermont to open a branch of an out-of-state business; they're truly looking for lone wolves.

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.

"It's really about bringing new faces in", Lyons said. They're available on a first-come-first-served basis.

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.

Which expenses will be covered?

The $10,000 is created to go toward moving costs and other expenses needed to set-up a remote-working location, including computer equipment, but will be paid in two installments of $5,000 annually for two years.

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Under the terms of bill, a new remote worker may be eligible for a grant under the program "for qualifying remote worker expenses in the amount of not more than $5,000.00 per year, not to exceed a total of $10,000.00 per individual new remote worker over the life of the program".

How much is Vermont going to spend on this?

Republican Gov. Phil Scott on Wednesday signed into law a bill that will grant a number of newcomers a $10,000 stipend to help with the moving fees.

Vermont is cutting a sweet deal for remote workers who relocate to the state. Lyons also said she hopes to retain college students who might leave for jobs after graduation.

Spending may be limited by available funding. The rapidly shrinking tax base is leading to an economic crisis in the northeastern state, and as a result, Vermont is experimenting with innovative ways to attract new residents.

Legislators introduced the program seeking to shift the population's demographics.

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