One state is offering a hefty bonus to workers who are willing to relocate there – in an attempt to capitalize on moving trends brought on by remote work opportunities.
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The Northwest Arkansas Council has pledged $1 million to recruit top remote working talent to the area during the next six months, part of what it has dubbed the Life Works Here initiative.
It is specifically targeting science, technology, engineering and math workers with an offer of $10,000 and either a bike or a free membership to arts and cultural facilities.
Eligibility requirements include that a candidate is at least 24 years old, has at least two years of work experience and full-time employment, a resident outside of the state and is willing to relocate within six months of acceptance.
Among the regional living benefits cited by the council are per capita income that is 14% above the national average, affordable living, jobs with Fortune 500 companies, a start-up culture and access to plenty of outdoor space.
“The Northwest Arkansas region offers a unique opportunity to create balance for those eager to move from congested and expensive larger cities and suburbs,” the council said.
Arkansas ranked sixth on United Van Lines’ list of the top inbound states throughout the pandemic.
A recent study showed that 14 to 23 million households, or as many as 11.5% of remote workers, said they planned to relocate to another city or region, with a higher percentage of residents in major cities (20.6%) saying they planned to do so.
One of the biggest motivators, for more than half of households, was the desire to live more affordably.
Consequently, rents have been falling in expensive metros like New York and San Francisco as exiting residents leave a glut of vacant apartments in their wake.
As aptly advertised by the Northwest Arkansas Council, many individuals leaving densely-populated metro areas have sought out residences in suburban and rural areas – as access to space has become more important amid the coronavirus pandemic.