This West Virginia town will give you a $20,000 incentive to move in
The pandemic has undoubtedly served as a catalyst for home buying and moving, as remote work becomes ubiquitous and Americans search for new employment opportunities en masse. Some cities like Lewisburg, W.Va., are looking to capitalize on this migration and grow their communities by offering up to $20,000 in cash and other incentives for people to move there.
MakeMyMove.com, an online directory launched in 2020, aims to connect those looking to relocate with similar offers. The site currently features over 50 locations around the country offering move-in incentive packages ranging from $5,000 to $20,000.
“During the pandemic, millions of people suddenly became remote, and that means that they can choose where they live and work independent of where their employer is,” MakeMyMove Co-Founder Evan Hock told Yahoo Finance Live. “So, really, this is just open season for communities to recruit new residents.”
Another such community is Greensburg, Ind., which is currently offering $7,000 in incentives, including $5,000 in cash to offset moving expenses. The city is currently home to over 13,000 residents and is located at the halfway point between Indianapolis and Cincinnati. According to Greensburg Mayor Joshua Marsh, the city has received over 1,500 applications to move there.
“[The initiative has] been tremendously successful. And we are really working to bring people to our community who want a lower cost of living, a safe community to be a part of, great schools in the Midwest,” Marsh said. “So we really reached out on this idea that we could provide that.”
One of the key goals for the initiative in its partnership with MakeMyMove was to ensure that new residents felt “involved and a part of the community” upon arrival, Marsh said. As such, as part of its incentive package, Greensburg offers a year's membership to a local co-working space and YMCA, gift cards to the seasonal farmers' market, tickets throughout the year to productions at the local playhouse, hosted visits to the local beach, and even "Grandparents on Demand” who can, for instance, serve as babysitters during a parents’ night out.
In terms of eligibility to take advantage of the offer, prospective residents must relocate to Greensburg within the next 6 to 12 months, have a remote position or be self-employed outside of Greensburg, be at least 18 years of age, and be eligible to work in the U.S.
“We're kind of early in the process. But we've seen thousands of people move, and they're moving for a lot of different reasons,” Hock said. “You know, they're often moving from bigger cities [like] Silicon Valley [or] New York City. And they're looking for places that are more affordable, maybe closer to family, maybe a place that they can connect with the local community.”
According to Hock, communities like Greensburg are expecting its new residents to live there long term.
“Really, the goal of the cash is to de-risk a move, to make it easier, to cover the actual cost of the move. But for all of these communities, I think retention is an important consideration,” Hock said. “... And I think part of the reason we love Greensburg's offer is it does a great job of sort of starting to think creatively about how to get those folks plugged in, introducing folks to locals, getting them invited to local events. We expect the people that are selected to stay long term.”
Thomas Hum is a writer at Yahoo Finance. Follow him on Twitter @thomashumTV
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