Worker incentive program wins Senate approval
Vermont’s new remote worker incentive turns out to be a bargain, Sen. Randy Brock told his colleagues on the Senate floor Friday.
The program, which reimburses new arrivals up to $10,000 for expenses if they move to the state for a new job, is quite affordable compared to some of the economic development efforts underway in other states, Brock said, shortly before the Senate approved a new version of the initiative as part of an economic development bill.
Take New York City, which was initially willing to pay $3 billion in incentives to attract Amazon and a promised 25,000 jobs.
“If you do the math on that, that’s $120,000 a job,” said Brock, R-Franklin.
To draw a new Toyota and Mazda plant with 4,000 jobs, Alabama gave up grants and incentives worth $700 million – which comes out to $175,000 per job, Brock said. Mississippi went even further, he said. They spent $289,000 per job for a Nissan plant where 20 percent of the jobs paid $12 per hour.
Read more: https://vtdigger.org/2019/04/12/worker-incentive-program-wins-senate-approval/