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Tulsa Is Still Paying Remote Workers $10,000 to Move There — And Getting a Massive Return on Investment, According to a New Study

Key Points

  • The Tulsa Remote program, launched in 2018, offers a $10,000 grant to remote workers who relocate to Tulsa for at least one year, and has issued about 3,500 grants to date.
  • A new Upjohn Institute study found that Tulsa Remote delivers over $4 in benefits for every $1 spent and is six times more efficient at creating jobs than comparable business tax incentives.
  • The influx of “Remoters” has boosted property values, increased local retail spending, and expanded the tax base, allowing for potential tax cuts or service expansions and improving quality of life for existing residents.
  • Participants have generated $622 million in direct employment income, and 70% of grantees remain in Tulsa after completing the program.
  • Five stocks to consider instead of Movano.

The city of Tulsa, Oklahoma, has been offering its Tulsa Remote program since 2018. The incentive program offers a $10,000 grant to remote workers to move to Tulsa for at least one year. So far, about 3,500 grants have been issued.

Now, a new study found that the offering has been a financial success, giving more than $4 back to the city's residents for every $1 spent.

In the report, "The Effects of Tulsa Remote on Inducing Moves to Tulsa: Estimates and Implications," Tim Bartik, a senior economist at the Upjohn Institute, found that the program was six times more efficient at creating jobs than a business tax incentive of the same cost. Tulsa Remote also led to an improved quality of life for residents who were not a part of the program.

Related: Working Past Retirement Age? Here Are the 10 Best States for Employed Seniors, According to a New Report.

"Ultimately, if a local community is considering a remote worker attraction program, voters will want to know what such a program might mean for their standard of living," Bartik said in a statement. "Are the original local residents better off?"

Bartik found that the program increased property values and led to more spending at local retailers, which in turn created local jobs. The new residents also helped to increase the local tax base by more than they use in services, allowing local governments to cut taxes or expand services, Bartik said.

The report also notes that more than 100 communities are offering incentives to move there. Business Insider highlights 21 of them here, with programs offering everything from cash to free land.

According to Tusla Remote's 2024 Sustainable Growth & Economic Impact report, people who have moved to Tusla for the grant, called "Remoters," have collectively generated $622 million in direct employment income. Meanwhile, 70% are still there after completing the program.

Two of those "Remoters," Faith Langevin and Matt Costanza, tell Realtor.com that they left Atlanta, Georgia, for the program in Tulsa and are still there three years later.

"We found our community," Langevin told Realtor.com. "I think we became better people."

Related: JPMorgan CEO Jamie Dimon Says Only One Group Is Complaining About Returning to the Office

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Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Movano (MOVE)
2.9719 of 5 stars
$0.67+5.1%N/A-0.13Buy$30.00
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