Fort Smith approves more money for MakeMyMove program

The Fort Smith Board of Directors agreed during its regular meeting Tuesday (July 23) to set aside $250,000 to fund incentives to encourage those working remotely to relocate to Fort Smith. The program is expected to recruit 175 people to Fort Smith.

In April, the board approved $224,175 for contracted services with Indianapolis-based MakeMyMove to enter the remote worker recruitment effort. The company provides a niche service in the recruitment of employees who work remotely in their jobs and can work from anywhere, City Administrator Carl Geffken said in a memo about the subject.

Recruitment packages may offer local incentives from local organizations or businesses in order to entice potential residents to move to an area. They focus on the amenities, attractions and services available in an area that make it an attractive place in which to live.

“The primary goal is to attract remote workers and their families to Fort Smith, known for its low cost of living and great amenities. By moving here, these workers will support our local economy through their spending and could help boost our local real estate market. Additionally, if these individuals move with their spouses, there’s an opportunity to strengthen our workforce by filling existing job vacancies within the community,” said Josh Buchfink, public relations manager for the city.

A representative from MakeMyMove said the average income of the remote workers they recruit to a city is about $110,000 a year and the average household size is 2.3 people.

INCENTIVE BOOST
The board agreed Tuesday to add to possible incentives towards the cost of housing for those relocating through MakeMyMove. The $250,000 expenditure will fund monetary incentives of $10,000 per participant who purchases a home in Fort Smith and $5,000 per participant who rents a home in Fort Smith. The incentives will assist with moving expenses, closing costs, deposits, and other relocation-related expenses, making the transition smoother and more financially feasible for new residents, Buchfink said in a memo on the subject.

The program includes several non-cash incentives, including four season passes to Parrot Island Waterpark, one-year memberships to the Fort Smith Museum of History and the U.S. Marshals Museum, 50% off a six-month membership to The Mill co-working space, a one-year membership to Deer Trails Golf Course, and season tickets to University of Arkansas at Fort Smith Athletics.

West Memphis and Texarkana also have contracts with the MakeMyMove program.

“The addition of cash incentives will boost the appeal of Fort Smith and will put us on par with other Arkansas cities that are currently participating in the MakeMyMove program. West Memphis offers the same $5,000 for rental and $10,000 for home-buying that the board agreed to fund for Fort Smith,” Buchfink said.

The cash incentives bring the total incentive package offered in Fort Smith to $11,900 if the remote worker buys a home and $5,190 if they rent, he said. Those are the only incentives they give. Texarkana only offers $5,000 in cash for moving, but they have a full incentive package of $17,100, Buchfink said, noting that they offer incentives including free college hours.

ONE PERSON
So far, the city has extended five offers through the program. One person has moved to Fort Smith because of the MakeMyMove program. Participants have to sign an agreement that requires they agree to make Fort Smith their primary residence for no less than 12 months. Additionally, they agree to live within the city limits boundary map, Buchfink said.

“We have had about 8,000 clicks to look at our offers, but we haven’t gotten that many to try,” Buchfink said. “Hopefully this will help.”

MakeMyMove has a large pool of interested workers looking to relocate and they vet all applicants, Buchfink said. The incentive packages are restricted to remote workers making $75,000 or more a year, with no felonies, who pass a complete background check.

Ryan Pike with MakeMyMove said their estimates show that each $75,000 household has an economic impact to the city of approximately $1.826 million.

The board on Tuesday passed a provision with the appropriation that the entire project be evaluated in 6 months, or no later than Jan. 31, to see if it is bringing people to Fort Smith.