A family that went bankrupt after rising inflation and the rising cost of living decided to take a chance by moving to a state that offers newcomers a cash incentive to settle there.
Ben Isenberg, along with his wife and two children displaced from Baltimore, Maryland, traveled 300 miles west to the mountain state of West Virginia.
They were lured by the premise of a $10,000 cash bonus with the additional offer of an additional $2,000 if the family stayed put for at least two years.
Despite the lucrative offer, it was West Virginia’s slower pace of life in general, coupled with the state’s cheaper cost of living, that made them jump at the chance.
The Isenbergs took up the ‘inflation offset’ offer two years ago after Ben’s business suddenly hit 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 in housing, groceries and entertainment in rural West Virginia
“We lost half our business, we had to let staff go. We’re lying in bed watching this beautiful house go by, we’re under water. I heard about it and thought I would apply for the grant,” he told Today.
“But now, when I go to the grocery store, my grocery bill is less overall. Our family budget is down. The movie theater is half of what it was in Maryland. It’s like $6 to go to a movie. The most great was all the things we could do outside for free.’
The Ascend West Virginia program offers $12,000 to remote workers who move there.
Applicants must be 18 years of age or older and already have a full-time remote job to qualify for the program.
If selected, participants receive $10,000 during the first year paid in monthly installments. Then they will receive $2,000 after completing their second year at West Virginia.
Initially skeptical of the program, the Isenbergs are now 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 stayed in West Virginia for at least two years.
Cities such as Morgantown and Greenbrier Valley are offering additional incentives that bring the total up to $20,000.
Outdoor perks like white-water rafting, golf, rock climbing, horseback riding, and even skiing round out the rest of the package—offered in the form of free passes offered upon relocation, plus access to a workspace for remote workers.
Ascenders can choose from several 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 located in the state’s idyllic mountains – a draw for anyone who appreciates the majesty of Mother Nature.
Isenberg said that 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. Its not. They were here. We are living proof. I wouldn’t give up anything for that. It’s just a wonderful place,” he said.
In fact, since the Isenbergs moved to West Virginia, now their parents have decided to join them in the town of Lewisburg.
The family of four needed an annual income of about $109,142 (about $9,100 a month) to live in the Baltimore area, according to the Economic Policy Institute’s Family Budget Calculator.
By comparison, Greenbrier County, West Virginia, where the Isenbergs live now requires an annual total of $97,562 — or about $8,100 a month.
Housing costs in Baltimore are more than double that of Greenbrier County at an average of $1,548 per month compared to just $761.
Food is also much more expensive in Maryland, costing an average of $1,110 a month, compared to $890 in rural West Virginia.
Brad D. Smith founded the Ascend program. He is also the current president of Marshall University.
Formerly the CEO of the software company Intuit, Smith 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 and liveliness and an incredible recreation scene,” Smith said.
“Locals are happy because their property values have skyrocketed,” West Virginia Governor Jim Justice said. “They know for us to have more and more opportunities in West Virginia, you have to have more people. You should have a larger tax base. That’s all there is to it.
The Ascend West Virginia program offers $12,000 to remote workers moving to the Mountain State. Morgantown, above, gives additional incentives bringing the total to $20,000
The public-private program is offered by Ascend West Virginia, and offers an upfront incentive of $10,000 — and an additional $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 – a total of 299 people – have made the move. The goal is to bring 1,000 remote workers and families to the mountain state over the next five years.
Local residents are also said to be happy about the arrival of foreigners.
“To be honest, they’re happy because their property values have skyrocketed,” said West Virginia Governor Jim Justice.
“They know for us to have more and more opportunities in West Virginia, you have to have more people. You should have a larger tax base. That’s all there is to it.
“They may be looking for a more affordable place because they may have more space. Beyond that, they’re looking for community connections.’