(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(C) [Repealed.]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.