Twenty-three-year-old Tanner Ruane is being held in New York state on conspiracy to commit murder charges issued in New Mexico.
The second man, 41-year-old Mark Staake, is being held in Vermont as a fugitive from justice on a charge that he violated his probation in his home state.
Police say initial reports the alleged targets of the plot were in the St. Albans were incorrect.
Vermont investigators have been in contact with the alleged intended victims elsewhere in the state. Police did not say where they are or release their names.