Bankrupt family take huge gamble by accepting $12,000 to relocate to rural area with promise of work… here’s how they got on
A family facing bankruptcy due to rising inflation and the cost of living decided to take a gamble by moving to a state that offered newcomers a financial incentive to settle there.
Ben Isenberg moved with his wife and two children from Baltimore, Maryland, and traveled 300 miles west to the mountain state of West Virginia.
They were lured by the idea of a $10,000 cash bonus, with an additional $2,000 offered if the family stayed for at least two years.
Despite the lucrative offer, it was West Virginia’s slower pace of life and the state’s lower cost of living that prompted them to jump at the opportunity.
The Isenbergs accepted the offer of “relocation for inflation” 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 lower costs for housing, groceries and entertainment in the rural state of West Virginia
‘We lost half of our turnover and had to let go of staff. We lie in bed and look at this beautiful house, we are under water. I heard about this and thought: I’m going to apply for the grant,” he said Today.
“But now, when I go to the grocery store, my grocery bill is generally lower. Our household budget has gone down. The movie theater is half of what it was in Maryland. It costs about $6 to go to a movie. The biggest thing was all the things we could do outside for free.”
The Ascend West Virginia program offers $12,000 to remote workers who move there.
To be eligible for the program, candidates must be 18 years or older and already have a full-time remote job.
If selected, participants will receive $10,000 during their first year, paid in monthly installments. They will then receive $2,000 upon completion of their second year at West Virginia.
The Isenbergs were initially skeptical of the program, but are now thriving in West Virginia, where their parents 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 stayed in West Virginia for at least two years.
Cities like Morgantown and Greenbrier Valley offer additional incentives that bring the total to $20,000.
Outdoor activities such as white water rafting, golfing, rock climbing, horse riding and even skiing complete the package. These come in the form of free passes issued upon moving in, plus access to a co-working space for remote workers.
Ascenders can choose from a variety of communities, ranging from the northern college town of Morgantown — near WVU — to the Greenbrier Valley in the southeastern corner of the state.
The latter is tucked away in the state’s idyllic mountains – a draw for anyone who appreciates the majesty of Mother Nature.
Isenberg said he wondered if it was a scam when he first heard about the scheme.
The family went bankrupt due to rising inflation and the increase in the cost of living
‘I’m sure there are people who think it’s a scam. That’s not it. We are here. We are living proof. I wouldn’t give up anything for this. It’s just a great place,” he said.
Now that the Isenbergs have moved to West Virginia, their parents have also decided to join them in the small town of Lewisburg.
According to the Economic Policy Institute, the family of four needed an annual income of about $109,142 to live in the Baltimore area. 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 per month.
Housing costs in Baltimore are more than double those of Greenbrier County, averaging $1,548 per 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 Program increaseHe is also the current president of Marshall University.
Smith, once CEO of software company Intuit, started the program three years ago and left behind a successful career in Silicon Valley.
“You couldn’t ask for more small-scale charm with great music and 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 we need more and more opportunity in West Virginia because we need more people. We need a bigger tax base. That’s all.”
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 a $10,000 cash incentive up front – and another $2,000 if you stay for two years. Ascenders can choose from one of five communities in the Misty Mountain State
So far, 159 families — 299 people in total — have made the move, with the goal of bringing 1,000 home workers and families to the Mountain State over the next five years.
Even the locals are happy about the arrival of the outsiders.
“Frankly, they’re happy because their property values have escalated,” said West Virginia Gov. Jim Justice.
“They know that we have more and more opportunities in West Virginia, that you have to have more people. You need to have a bigger tax base. That’s all there is to it.
“They may be looking for a place that is more affordable and where they have more space. They are also looking for connections with the community.’