No matter how hard it tries, Vermont is unlikely to attract multi-billion projects that create thousands of jobs in one shot. But the Green Mountain State is totally okay with that. Instead, it’s doubling down on its asset as a haven for entrepreneurs and remote workers seeking a high quality of life in charming small towns. In September 2021, the state opened applications for more than $10 million for its Capital Investment Grant program. The new program is funded by the American Rescue Plan Act and leverages federal funds for transformational projects that attract and retain businesses, create jobs and support growth.
Vermont Employment Growth Incentive: Offers cash payments to companies that meet milestones for job creation, payroll and capital investments. Enhancements are available for green businesses and those that create jobs in specific labor markets.
Vermont Training Program: Offers grants to cover up to half of the cost of training for new hires and incum- bent workers.
R&D Credit: Offers a state tax credit of up to 27% of the federal tax credit for research and development expenses.
Vermont Brownfields Revitalization Fund: Offers loans and grants to private developers, nonprofits and municipalities for the remediation of brownfield sites.
A new relocation program launched in August 2021 offers up to $7,500 in reimbursement grants for workers who move to the state. Qualifying occupations include childcare workers, registered nurses, cooks, servers, construction workers, elementary-school teachers and those who have “acute” needs and projected openings in the future.