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VEPC urges making Vermont employment incentive permanent, cites jobs and investment
Summary
Vermont Economic Progress Council testimony asked lawmakers to repeal the sunset on the Vermont Employment Growth Incentive, saying the performance‑based program has produced substantial capital investment and jobs and urging continued reporting and program evaluation.
Jessica Hartleben, executive director of the Vermont Economic Progress Council (VEPC), told the Senate committee that the Vermont Employment Growth Incentive (VEGI) is a performance‑based tax incentive that ties any credit to multi‑year payroll and capital‑investment benchmarks and is verified by the Vermont Department of Taxes before payments are made.
VEPC staff described the mechanics of VEGI: an applicant proposes job creation and capital investment targets; VEPC and the state's economist analyze net fiscal impacts and determine eligibility; approved applicants earn incentives only after…
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