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Vermontess t1_j9vj2g0 wrote

Reply to comment by Blindsay04 in Anyone familiar with the 'Worker Relocation Incentive Program' by Blindsay04

The huge influx of well heeled remote workers has almost doubled average home and rent prices over the last five years. Folks that cannot afford the huge increases are being forced to move and there is a massive dearth of workers for entry level, service, and trades jobs. There are definitely other factors at play, but that was the main driving force behind the huge run up in housing prices.

It’s highly questionable why the State would continue to use tax dollars to incentivize rich people moving here while they are slashing/ending all the emergency housing programs that are keeping people off the streets

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Blindsay04 OP t1_j9vlrl2 wrote

I see, thanks for the explanation. Even if the state is offering this money up front, wont they get significantly more in the long run from the taxes off of these people? Looking at the population data, it looks like VT increased in population about 3.5%, Also home prices are insane everywhere right now, not just in VT

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Vermontess t1_j9vybzu wrote

There isn’t good data yet about how much the population has grown over the last couple years. We have been operating at a negative growth rate for decades so even a 3.5% increase year over year would impact the housing stock as it compounds very quickly to a significant number.

I hear what you are saying about tax revenue, but remote workers are straining our housing and labor markets and crippling our economy in ways that will cost us far more than they are able to contribute in income taxes. The money is better spent on those less fortunate. Covid, climate, and red state refugees will continue to flock here without tax incentives

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