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Looking for 50 New Residents

The+Four+Chimney%27s+Inn+-+Bennington%2C+Vermont+-+The+Shires+of+VermontTo be sure, Vermont is taking baby steps. But, it is a fascinating concept.

The Green Mountain State has a problem. Along with Maine and New Hampshire, they have the top three oldest populations in the country (median age: mid-40s). Clearly, they need to find a way to attract a younger demographic to ensure the State's long-term sustainability.

The Governor recently signed into law a pilot grant program that would pay people $10,000 to move to Vermont and work remotely for an out-of-state company. They've budgeted enough for 50 people to take the bait.

Which sounds overly cautious to us. We'd think it would take more than $500,000 to promote the program.

But, the State clearly has done their math. Assuming each person that takes the deal is in their 20s and stays a resident until they are 60, the anticipated total tax benefit (property, sales, fuel and income taxes) to the State on an annual $50,000 salary would be $500,000 per person.

That's $25 million...an ROI of 50:1 over a 30-year adoption of the State.

Hey, Vermont? With these kind of numbers...here's our suggestion: Spend a couple million promoting the program, increase the grant to $50,000, remove the artificial cap...and you're still golden.

Very.

 

 

Bill Geist

Bill GeistBill Geist

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