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; and

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

(C) [Repealed.]

# (c)

Eligible applicant. Only a business may apply for an incentive pursuant to this subchapter. (