Jan 5, 2023
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If you spend your whole working day rotating from your home office, the couch — and yes, sometimes, shamefully, even your bed — does it really matter where in the world you are?
Because if you’re willing to pick up and move, you could snag a tidy executive-style relocation bonus.
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The pandemic not only forced workers to reexamine what they want out of a job, but labor remains in high demand, which means workers can ask for more than a steady paycheck.
Indeed reported in 2021 that searches for hiring incentives had more than doubled. Jobs in some states, regions and towns still come with relocation bonuses that reach $10,000 or more.
So, if building a home in Topeka, Northern Alabama or Tulsa sounds intriguing, now may be the perfect time to make a move.
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These workers are in demand
The labor shortage continues to affect all kinds of positions, from fast food workers to electricians, delivery drivers, police officers and 911 dispatchers. But new sign-on bonuses are bigger and more common in certain industries.
For example, nurses, doctors and EMT workers are still needed like never before, yet it’s easy to understand why so many have burned out and quit.
About one in five health care workers considered leaving their jobs after COVID-19 hit, according to a 2021 University of Utah survey.
Hospitals and labs offer signup bonuses in the thousands. Penn State Health in central Pennsylvania promotes a $15,000 to $20,000 bonus for registered nurses, plus increased pay and more paid time off. And ChristianaCare will pay medical lab scientists up to $10,000 to take jobs in Elkton, Maryland; Wilmington, Delaware or Newark, Delaware.
Remote workers can pick their home base
Some states, smaller cities and rural towns provide bonuses specifically for remote workers.
The idea is that those people will bring their money from elsewhere and spend it in their new community, helping grow businesses and support the tax base.
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Some cities are getting so competitive as to offer additional perks, including free swag and coworking office space.
Just a few of the places offering bonuses:
- Topeka, Kansas. If you’re planning to rent, you could qualify for a $10,000 relocation bonus. If you buy a home, that jumps to $15,000.
- Newton, Iowa. People who buy a home in this town for at least $190,000 will get $10,000 offered by the city, plus a welcome package of $2,500 worth of discounts for local businesses.
- St. Clair County, Michigan. Recent grads from the area with a degree in a STEAM-related field can get up to $15,000 to pay off their student debt if they move back home.
Read More: Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it
These moves do not have to be permanent
Some communities and states have stay requirements to secure the incentives. For example, the Shoals area in Northern Alabama pays up to $10,000 if you move there for a year, but you’ll only get half that for a six-month stay.
In West Virginia, you can get $10,000 to move there, adding $2,000 when “you fall in love” with the state, as organizers expect, and stay for year number two. The organization providing the money with the government’s support says the cash is “no strings attached,” pointing out that it’s up to you whether you’ll use it to perhaps buy a car for scenic drives on country roads.
In Oklahoma, the Tulsa Remote initiative is one of the most popular programs with a $10,000 award, so far attracting nearly 1,900 people, many of whom have stayed longer than the minimum one-year requirement. If you buy a house, you can get the money in a lump sum. The project provides free coworking space, suggests apartments and connects you to lunch lectures so you can feel like a real part of your new community.
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Chris Murray was formerly a freelance contributor with Moneywise.
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