As the cost of living in major cities continues to trend ever upward, younger workers, saddled with student loan debt and salaries on the low end of the spectrum, are looking for cheaper pastures.
And certain cities and states across the country — from the tip of the Northeast to the Southwest — are happy to appeal to young people and families by offering financial incentives for moving.
It seems to be paying off for the governments: Maine, which began offering a tax credit to retain graduates of colleges and universities in the state, recently announced it would expand to higher education graduates from anywhere in the U.S.
If a move sweetened by a tax credit or grant sounds appealing, here are six places to consider.
This northern state is offering an enticing deal to young workers: Move to and work in Maine, and receive a tax break to reduce your student loan burden.
The Educational Opportunity Tax Credit first applied to graduates of Maine's colleges and universities, but has now been expanded to college and university graduates from anywhere in the U.S., starting with the class of 2016.
How the credit applies to you varies depending on the year you graduated, your degree type and whether you are a Maine native or moved from somewhere else in the country. But generally, workers will be able to deduct the total amount of money they paid in student loans for the year from their state income tax bill, up to $377 per month for 2018 Bachelor's graduates.
Do you work remotely? Are you looking for some new scenery? Perhaps you should move to Vermont.
In a bid to attract younger workers to an aging labor force, the state offers financial incentives to full-time remote workers who moved to Vermont after January 1, 2019 through its Remote Worker Grant Program. It can reimburse workers up to $10,000 for relocation expenses over two years.
Recipients have already been selected for 2019, but you can sign up to receive information about 2020 opportunities.
If Vermont isn't quite your speed, Tulsa also offers incentives for remote workers.
The city began offering the Tulsa Remote program in 2018, which gives full-time remote workers $10,000 and a $1,000 housing stipend to relocate and work from the city, paid out over the course of a year. Remote workers need to be able to move to Tulsa within six months to qualify. You can find out more about eligibility requirements here.
The organizers said that the program has been such a success they hope to continue offering it in the years to come, in the hopes that "talented" individuals will come to call Tulsa their "forever home."
North Platte's economic development group designed the WORK NP program with local employers, and it will match sign-up bonuses for new hires up to $5,000, which means a potential $10,000 signing bonus for workers. The money can be used for things like relocation expenses, down payments or deposits, student loan repayment and more, according to the program's website.
The program does have some requirements, according NBC Nebraska: The worker must earn at least $20 per hour, must live in the city for three years and their employer must be a member of the town's chamber of commerce. Employers apply for the money on the employee's behalf.
Alaska offers a slew of grant programs and tax incentives to attract people to put down roots in the state.
Perhaps most enticingly, permanent residents can qualify for the Permanent Fund Dividend, which cuts each member of the population a check each year. In 2018, permanent residents received $1,600.To qualify, you need to live in the state for the dividend year.
This Midwestern city has one of the oldest housing incentives around. Since 2014, it's offered $10,000 cash to new home buyers and builders through its Housing Initiative, plus a "welcome" package worth over $3,000. The incentive is available for new single-family home construction worth more than $160,000.
For context, the median price for a home in Newton is just over $105,000, according to Zillow. It's a much more affordable location than major coastal cities: The median price for a new home is over $670,000 in New York City and $1.35 million in San Francisco.
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