Topeka, Kan., is the latest city offering a cash incentive to new residents to relocate there. It will pay up to $15,000 to those who move to Kansas’ capital city.
Topeka is the latest in a growing list of metros that are looking to entice new residents with cash offers. The list also includes Chattanooga, Tenn.; Baltimore; and Tulsa, Okla. In 2016, the state of Maine launched a campaign that vouched to pay the vacation expenses for those who come to the state on vacation and then end up moving there.
The “Choose Topeka” program will match funds that are put up by employers to attract professionals to live and work there for at least a year. They’re offering up to $10,000 for renters and $15,000 for those who purchase or rehab a home.
Up to 60 new residents will be eligible for funds through the program.
City officials say their goal is to draw young couples to relocate and start families in the area as well as fill jobs, including in the animal health science and financial services sectors.
Topeka has seen its population shrink over the years. In July 2018, its population was 125,904—nearly 2,000 less than 2010.
Nearby Tulsa offered a similar incentive program in the hopes of attracting new residents and so far, its idea has worked. More than 100 workers were selected from 10,000 applications as part of its Tulsa Remote program its first year. Officials say the program will more than double in size in 2020 and welcome 250 new residents with financial incentives for moving there.
(Republished from REALTOR® Magazine.)