City recently named by the Wall Street Journal as the third best city for remote workers expects nearly $1.2 million of new economic output
The city of Evansville today announces the launch of a pilot program to recruit 15 remote workers and their households to Vanderburgh County using funds matched by the Indiana Economic Development Corporation (IEDC). Named the third most desirable location for remote workers this month by the Wall Street Journal, Evansville is poised to create nearly $1.5 million of new annual economic output locally.
“We cannot underestimate the value of a people-first approach to economic development,” said Evansville Mayor Lloyd Winnecke, who is working with the Evansville Regional Economic Partnership (E-REP) and Indianapolis-based MakeMyMove, an online marketplace connecting remote workers with communities incentivizing relocations across the country.
“Many cities in the state are realizing that economic development doesn’t have to come from brick-and-mortar locations,” said Evan Hock, co-founder and COO of MakeMyMove. “By shifting how we think about economic development and recruitment of new jobs and residents, it is possible to grow the local and state economy more quickly and effectively.”
The IEDC shared $1.5 million in matched funds for Indiana mayors and economic development corporations to bolster recruitment and retention programs after a new state law in April 2022 enabled leaders to secure funding for talent attraction and retention programs through local tax increment financing dollars. Evansville received matching funds from the IEDC for a total recruitment budget around $200,000.
Remote workers who apply for the $5,800 incentive package will receive $5,000 in cash, a one-year membership to Cowork Evansville, and day passes for museums.
“Remote workers who move to town begin spending money immediately with local restaurants, museums, shops and grocery stores. In turn, new jobs are created and labor income increases,” said Tyler Stock, executive director of Talent EVV at E-REP. ”Evansville is a robust community with the exact things remote workers want, including larger homes, better access to restaurants and green space, and ample networking opportunities to connect with others. We decided to partner with MakeMyMove because of their unmatched experience connecting remote workers with new homes and community support.”
To date, more than 20 cities are using matching funds from the IEDC and private investments to draw new residents using remote worker recruitment programs which are expected to recruit 500 new people and funnel more than $40 million dollars back to Indiana communities. The state has a large pool to draw from; more than 19 million people work remotely today and 40 million in the US are expected to be fully remote within the next five years.
MakeMyMove is the nation’s first and only marketplace that matches remote workers and their families to communities across the country offering relocation incentives. MakeMyMove was founded by Bill Oesterle, co-founder of Angie’s List, and Evan Hock, a former executive at Angie’s List.