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MONTPELIER, Vt. — Vermont is hoping to attract new residents and boost its population and workforce by paying some of them to relocate to the state.

The state starts accepting applications on Jan. 1 for the program, which pays people who work remotely for an out-of-state company to move to Vermont.

The state will pay those new residents up to $10,000 over a period of two years. The grants will be awarded on a first-come, first-served basis with $500,000 allocated for the program. Among the expenses that can be covered are relocation costs and computer software and hardware.

According to the US Census Bureau, Vermont has the third-highest median age, 42.7 years, in the nation. The state’s population overall is flat or slightly shrinking.