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The Vermont Statutes Online

 

Title 32 : Taxation and Finance

Chapter 105 : VERMONT EMPLOYMENT GROWTH INCENTIVE PROGRAM

Subchapter 002 : Vermont Employment Growth Incentive Program

(Cite as: 32 V.S.A. § 3330)
  • § 3330. Purpose; form of incentives; enhanced incentives; eligible applicant

    (a) Purpose. The purpose of the Vermont Employment Growth Incentive Program is to generate net new revenue to the State by encouraging a business to add new payroll, create new jobs, and make new capital investments and sharing a portion of the revenue with the business.

    (b) Form of incentives; enhanced incentives.

    (1) The Vermont Economic Progress Council may approve an incentive under this subchapter in the form of a direct cash payment in annual installments.

    (2) The Council may approve the following enhanced incentives:

    (A) an enhanced incentive for a business in a labor market area with higher than average unemployment or lower than average wages pursuant to section 3334 of this title;

    (B) an enhanced incentive for an environmental technology business pursuant to section 3335 of this title; and

    (C) an enhanced incentive for a business that participates in a State workforce training program pursuant to section 3336 of this title.

    (c) Eligible applicant. Only a business may apply for an incentive pursuant to this subchapter. (Added 2015, No. 157 (Adj. Sess.), § H.1, eff. Jan. 1, 2017.)