A family that went bankrupt due to rising inflation and the increasing cost of living decided to take a risk and move to a state that offered newcomers a cash incentive to settle there.
Ben Isenberg, along with his wife and two children, moved from Baltimore, Maryland, and traveled 300 miles west to the mountain state of West Virginia.
They were lured in with the promise of a $10,000 cash bonus with the added offer of an extra $2,000 if the family stayed there for at least two years.
Despite the lucrative offer, it was West Virginia’s slower pace of life overall, along with the state’s cheapest cost of living, that made them jump at the opportunity.
The Isenbergs accepted the “inflation relocation” offer two years ago, after Ben’s business suddenly fell on hard times during the pandemic.
The Isenberg family moved from Baltimore to West Virginia after Ben’s business struggled during the pandemic.
The family found a slower, more affordable lifestyle, with reduced costs for housing, food and entertainment in the rural state of West Virginia.
“We lost half our business, we had to lay off staff. We’re lying in bed watching this beautiful house collapse, but we’re underwater. I heard about this and thought, I’ll apply for the grant,” he said. Today.
“But now when I go to the grocery store, my total spending is less. Our family budget has shrunk. Going to the movies costs half of what it did in Maryland. It costs like $6 to go to the movies. The best thing about it is that we can do things outdoors for free.”
The Ascend West Virginia program offers $12,000 to remote workers who move there.
Applicants must be 18 years or older and already have a full-time remote job to qualify for the program.
If selected, participants will receive $10,000 during their first year, paid in monthly installments. They will then receive $2,000 after completing their second year in West Virginia.
The Isenbergs were skeptical about the program at first, but now they are thriving in West Virginia, where their parents have also moved.
The family was lured by the premise of a $10,000 cash bonus with the offer of an additional $2,000 if they remained in West Virginia for at least two years.
Cities like Morgantown and Greenbrier Valley are offering additional incentives that bring the total to $20,000.
Outdoor activity perks like rafting, golf, rock climbing, horseback riding and even skiing round out the rest of the package, offered in the form of free passes provided upon relocation, plus access to a space co-working for remote workers.
Up-and-comers can choose from one of several communities, ranging from the college town of Morgantown in the north, near WVU, to the Greenbrier Valley in the state’s far southeast.
The latter is located in the state’s idyllic mountains, a draw for anyone who appreciates the majesty of Mother Nature.
Isenberg said when he first heard about the scheme, he wondered if it was a scam.
The family went bankrupt after rising inflation and the rising cost of living.
“I’m sure there are people who think it’s a scam. It’s not. We’re here. We’re living proof. “I wouldn’t give anything up for this. It’s a fantastic place,” he said.
In fact, since the Isenbergs moved to West Virginia, their parents have now decided to join them in the city of Lewisburg as well.
The family of four needed an annual income of about $109,142 to live in the Baltimore area, according to the Economic Policy Institute. Family Budget Calculator.
By comparison, Greenbrier County, West Virginia, where the Isenbergs now live, requires an annual total of $97,562, or about $8,100 a month.
Housing costs in Baltimore are more than double those of Greenbrier County, averaging $1,548 a month compared to just $761.
Food is also much more expensive in Maryland, costing an average of $1,110 per month, compared to $890 in rural West Virginia.
Brad D. Smith founded the promotion programHe is also the current president of Marshall University.
Smith, once chief executive of software company Intuit, started the program three years ago, leaving behind a successful career in Silicon Valley.
“You couldn’t ask for more small-town charm, with amazing music, vibrancy and an incredible recreation scene,” Smith said.
“Locals are happy because their property values have gone up,” said West Virginia Gov. Jim Justice. “They know that in order for us to have more and more opportunities in West Virginia, you have to have more people. You have to have a bigger tax base. That’s all there is to it.”
The Ascend West Virginia program offers $12,000 to remote workers who move to the Mountain State. Morgantown, above, offers additional incentives, bringing the total to $20,000.
The public-private program is offered by Ascend West Virginia and offers an upfront cash incentive of $10,000 and an additional $2,000 if you stay for two years. Those “up” can choose from one of five communities in the Misty Mountain State.
So far, 159 families (a total of 299 people) have moved. The goal is to bring 1,000 remote workers and families to the Mountain State over the next five years.
It is said that even local residents are happy with the arrival of outsiders.
“To be honest, they’re happy because their property values have gone up,” West Virginia Gov. Jim Justice said.
‘They know that for us to have more and more opportunities in West Virginia, we need to have more people. You have to have a larger tax base. That’s all about it.
‘Maybe they’re looking for a more affordable place to have more space. Beyond that, they’re looking for community connections.’
