Vt council offers $1 million in job creation incentives
The Vermont Economic Progress Council has authorized more than $1 million in job creation incentives for two companies.
Wind turbine manufacturer Northern Power Systems will get more than $800,000 if it expands operations in Vermont over the next five years. Green Mountain Coffee Roasters would get nearly $300,000.
Officials say the incentives could help the two companies create 180 new jobs in Vermont instead of other states.
The funding does not come from the state's general fund. Instead, the companies must create and retain the jobs before the incentives are paid out. That creates a net increase in tax revenues.