Terms Used In Vermont Statutes > Title 32 > Chapter 105 > Subchapter 2 - Vermont Employment Growth Incentive Program

• Award period: means the consecutive five years during which a business may apply for an incentive under this subchapter. See
• Base employment: means the number of full-time Vermont jobs held by non-owner employees as of the date a business with an approved application commences its proposed economic activity. See
• Base payroll: means the Vermont gross salaries and wages paid as compensation to full-time Vermont jobs held by non-owner employees as of the date a business with an approved application commences its proposed economic activity. See
• Capital investment performance requirement: means the minimum value of additional investment in one or more capital improvements. See
• following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
• Jobs performance requirement: means the minimum number of qualifying jobs a business must add. See
• Labor market area: means a labor market area as designated by the Vermont Department of Labor. See
• Municipality: shall include a city, town, town school district, incorporated school or fire district or incorporated village, and all other governmental incorporated units. See
• Non-owner: means a person with no more than 10 percent ownership interest, including attribution of ownership interests of the person's spouse, parents, spouse's parents, siblings, and children. See
• Payroll performance requirement: means the minimum value of Vermont gross salaries and wages a business must pay as compensation for one or more qualifying jobs. See
• Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
• Qualifying job: means a new, permanent position in Vermont that meets each of the following criteria:

• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Town: shall include city and wards or precincts therein; "selectboard members" and "board of civil authority" shall extend to and include the mayor and aldermen of cities; "trustees" shall extend to and include bailiffs of incorporated villages; and the laws applicable to the inhabitants and officers of towns shall be applicable to the inhabitants and similar officers of all municipal corporations. See
• Utilization period: means each year of the award period and the four years immediately following each year of the award period. See
• Vermont gross wages and salaries: means Medicare wages as reported on Federal Tax Form W-2 to the extent those wages are Vermont wages, excluding income from nonstatutory stock options. See
• Wage threshold: means the minimum amount of annualized Vermont gross wages and salaries a business must pay for a qualifying job, as required by the Council in its discretion, but not less than: