TAX NEWS - JUNE 2010

Canada Tax: Vermont tax incentive program has 2 firms promising a total of 41 new jobs

02 June 2010, MONTPELIER, Vt. (AP) -- A sales firm and a wood products manufacturer are expected to create a total of 41 new jobs in the next five years, thanks in part to a tax incentive program offered by the state of Vermont.

The Vermont Economic Progress Council has told the two firms they can earn tax credits totaling more than $230,000 if they fulfill their promises to create new jobs.

The Original Vermont Wood Products Inc. says a tax credit that could total just over $100,000 will help it start production at the former Stanly Tool plant in Pittsfield this summer.

That's good news for a town that has seen one of the highest unemployment rates in the state recently.

Mansfield Sales Partners Inc., meanwhile, says it plans to add jobs in Chittenden County.