VERMONT — Late Wednesday afternoon GOP gubernatorial candidate Scott Milne formally announced his plan for improving the employment picture in Vermont.
Since the announcement came after the production deadline for this edition of the Independent, and could not be included in the interview we did with the candidate, Milne’s campaign provided an excerpt of the “Green Mountains of Opportunity Initiative,” as he called the plan.
Milne, who noted that 96 percent of businesses in Vermont are defined as small, said Vermont government should encourage those who want to start a business and employ fellow Vermonters. To that end, his plan offered two specific policy steps:
1.  To provide incentives new employers, the state would grant a five-year income tax moratorium on new Vermont businesses created in the next three years. The clock would begin at the first year of profitability, and where 80 percent of the payroll remains in Vermont.
Additionally, if the employer adds $100,000, or 5 percent, whichever is greater, to payroll per year this income tax moratorium could be extended for another five years — up to 10 years for a new Vermont business that is growing.
2.  The state would  offer a three-year waiver of capital gains taxes in investments made in Vermont business over the next three years.
Milne further said that the Green Mountains of Opportunity tax incentives would be aided by a streamlining of the Agency of Commerce that will result in the agency “giving our employers and entrepreneurs top-notch customer service.”
“Furthermore, I will cultivate relationships with new and existing employers, and let them know that they are a priority for Vermont,” he added.