POPULATION: 623,050 (July 2005 Census estimate)
LABOR FORCE: 356,000 (August 2007 estimate)
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES: Manufacturing, tourism, agriculture, captive insurance
EXPANDING INDUSTRIES: Environmental technology, high-tech manufacturing, IT and financial services
COLLEGE GRADUATES: (Age 25 and over) 29.4%
BASIC BUSINESS TAXES:
Corporate Income Tax: For tax years beginning January 1, 2007: $0-10,000: 6 percent; $10,001-25,000: 7 percent; $25,001 and over: 8.5 percent; minimum tax of $250
Corporate Organization and Qualification Fees: Domestic — $75; foreign — $100 flat entrance fee
Sales and Use Tax: 6 percent of taxable sales, purchases, charges, and rentals; use tax applies to storage, consumption, or use of tangible personal property or services, unless already subject to sales tax; meals and rooms taxed at 9 percent
Property Tax: Residential property and contiguous land tax rate at $0.87 per $100 of equalized education property value, with limits on adjustments; non-residential rate is $1.36 per $100 of equalized education property value
BUSINESS INCENTIVES:
Vermont Employment Growth Incentive for job creation/capital investment
Vermont Training Program to assist with worker training
Sales and use tax exemptions
Property tax stabilizations
Vermont Economic Development Authority loans and guarantees
Vermont Environmental Assistance Partnership
Vermont Agency of Agriculture marketing partnerships
Vermont Brownfields Initiative
Vermont Downtown Program