More US cities offer incentives to attract remote workers

More cities and cities are offering cash incentives to attract remote workers. Tulsa, Oklahoma will pay workers $10,000 to move there and telework while West Virginia is offering $12,000 and two years of free outdoor gear rental. Maine will help workers pay off student debts if they move there. The incentives are appealing especially for newly minted remote workers who are looking to capitalize on their newfound flexibility. 

But a snap decision to move could cost workers more than the money they're chasing. It's important to read the fine print, assess deal-breakers and talk to employers before workers pack their bags to cities like Topeka, Kansas, where remote workers can get up to $10,000. Most remote relocation programs have an application process with several different rounds of interviews and screenings to sort through prospective residents. Only a fraction of the applicants is finally accepted. According to Justin Harlan, managing director of Tulsa Remote, they only accepted only 3% of the 30,000 applicants in 2021. 

The Opportunity Maine Tax Credit has no cap on participation but it does have a host of other stipulations. Whether the tax credit is refundable, for example, depends on the year you graduated from school and your field of study. And the Ascend West Virginia program only accepts applicants for certain cities, at certain times of the year. Relocation incentives are meant to boost the local tax base so most programs might pay the benefit over a year or two and encourage you to put down roots. 

Source: CBS News