Category: Domestic Relocation Trends

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Choose Topeka Incentives Aim to Draw New Residents to Kansas

The Kansas state capitol building is located in downtown Topeka on land donated by the Atchison, Topeka and Santa Fe Railroad company. Construction began in 1866 and was officially completed 37 years later in 1903 at a total cost of just over 3.2 million dollars. The building is over 300 feet tall and is 17 feet taller than the U.S. Capitol building in Washington D.C.

Choose Topeka is a new incentive program that will draw new residents to Topeka and Shawnee County, Kansas. The program begins in 2020 with a public launch and full promotion. The incentives are performance based. As a result, new residents will become eligible after residing in the community for one year.

The program arose from a partnership between GO Topeka and local Topeka businesses. Over the past year, organizers have been working to develop the program and marketing materials to reach a wide audience. GO Topeka focuses on creating economic opportunities and growing the local business climate. The Joint Economic Development Organization has an agreement for services with GO Topeka. Both organizations are working together on the Choose Topeka incentive program.

What are the Eligibility Requirements for Choose Topeka?

The Choose Topeka incentive program is to help draw employees to work at local businesses. Therefore, the eligibility requirements center on meeting the needs of local employers and full-time positions:

  1. Participants must be eligible to work in the US
  2. Program requires participants to move to Topeka for a full-time position
  3. Employers must participate in the program for participants to receive matching funds
  4. Participants must purchase or rent a home in Shawnee County within a year of their hire and move to the area

What are the Benefits for Participants in Choose Topeka?

The benefits for participants in Choose Topeka are generous, and apply to both the participant as well as to the employer.

Participant Benefits

Up to $15,000 in funds in Year 1

  • Renting: $10,000
  • Home Purchase: $15,000

Source of funds: GO Topeka/Joint Economic Development Organization (JEDO) and Employer, match at 50%

Employer Benefits

  • Employer fully funds $10,000 up to $15,000 with employee transfer
  • After Year 1, GO Topeka/JEDO reimburse up to $5,000 ($10K) or $7,500 ($15K) to employer for employee retention

The Choose Topeka incentives are based on performance. Employees must move to the community and reside for at least one full year before becoming eligible. Only primary residences are eligible for the incentives. The incentives may be used for all expenses related to moving.

What is the Goal of Choose Topeka?

The goal of Choose Topeka is to draw up to 60 new residents and their families to the city. Employers will gain new workers with requisite skills. Also, several industries will receive economic benefits as the new residents move in and purchase locally.

GO Topeka estimates the total local economic impact of the Choose Topeka incentives to be:

  • Over $2.14 million/Year 1
  • Up to $11.38 million/By Year 5

What Should Employers do About Choose Topeka?

Companies in Topeka and the surrounding Shawnee County area that have growth initiatives may be able to leverage the Choose Topeka incentives in their talent acquisition and relocation programs. Companies should examine their plans for corporate expansion. They should also consider participating in the Choose Topeka incentive program to gain the matching funds provided by GO Topeka/JEDO.

Many other US locations offer similar moving incentives. As a result, companies should leverage GO Topeka’s 2020 marketing and promotional efforts for the Choose Topeka incentive program into their employee recruitment efforts.

Conclusion

GMS’ team of domestic relocation experts has helped thousands of our clients understand how to leverage moving incentives such as those in the new Choose Topeka program to attract and retain talent. Our team can help your company by using industry best practices to design your relocation program. This will increase your company’s ability to hire and retain new employees.

GMS was the first relocation company to register as a .com, created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Contact our experts online to discuss your company’s interest in learning how it can leverage the Choose Topeka moving incentives to attract and retain talent, or give us a call at 800.617.1904 or 480.922.0700 today.

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Domestic Relocation Domestic Relocation Tips Domestic Relocation Trends Job Seekers Talent Mobility United States Economy

2019 Migration Patterns: Where are People Moving To in the United States?

City of trees Boise Idaho with fall colors

A recent study by United Van Lines of 2019 migration patterns in the United States shows which states people are moving to. According to the study, the top 5 states experiencing the highest rates of inbound migration are:

Top 5 States Growing due to 2019 Migration Patterns

  1. Idaho
  2. Oregon
  3. Arizona
  4. South Carolina
  5. Washington

The state of Idaho moves up from #3 to #1 for 2019 migration patterns as the state with the most inbound moves. The state of Vermont actually experienced a higher percentage of inbound moves than Idaho. However, the study’s focus was limited to states where United Van Lines moved at least 250 families.

Trends Driving 2019 Migration Patterns

Examining a number of local as well as national trends and how these trends impact each state helps explain these patterns. For example, over 45% of United Van Lines’ inbound moves were for baby boomers, ages 55-74. What are the trends driving 2019 migration patterns?

Retirement

Many of Idaho’s inbound movers were aged 55-74. Movers in this age range are from the baby boomer generation, and are moving for retirement reasons. For most retirees, Idaho is seen as a tax-friendly state that does not tax social security income. However, other forms of income are taxable. Balancing this out is the relatively low property taxes in the state. Additionally, Idaho has a “circuit breaker” that lowers property tax bills by up to $1,320 for homeowners who meet specific criteria, including:

  • Seniors age 65 or older
  • Own and occupy their home
  • Health and ability issues
  • 2019 income less than $30,450

State Economic Performance

The forecast for Idaho’s economic performance continues to be positive. A major contributing factor is population growth due to 2019 migration patterns. Also, the state has a strong job market with a diverse employment base. The personal income growth for Idaho is projected at or above 4.5%. As a result, increasing discretionary income leads to higher levels of purchasing power and upward growth in local jobs.

Cost of Living

The cost of living in Idaho is 2.3% lower than the US average, according to Sperling’s Best Places. 2019 migration patterns show that people often move to places with lower costs of living. Residents of Idaho benefit from generally lower costs in several categories including groceries, health, utilities, transportation, and miscellaneous costs.

However, with the increasing population, housing costs are rising in Idaho. The Idaho market is seen as “Very Hot” according to Zillow. Home prices have risen over 10.1% in 2019, and Zillow predicts another rise of 5.8% for 2020.

What Do 2019 Migration Patterns in the United States Mean for Employers?

Employers in the states of Idaho, Oregon, Arizona, South Carolina, and Washington benefit from 2019 migration patterns that draw an increasing number of new residents. Expanding industries produce increasing job opportunities. As a result, communities grow and need services such as real estate, health programs, and insurance. Demand for employees may be particularly strong especially during tight labor markets.

What should Employers do?

Employers in locations that benefit from 2019 migration patterns in the United States should review their company’s growth plans and requirements for jobs across all levels of skill sets. They should also determine how their company’s growth plans will impact the jobs required to meet business plans and goals.

2019 migration patterns in the United States may lead to a growing local population and potential future workforce. Since the nation is experiencing low unemployment, employers should review their talent acquisition and management programs to ensure they remain competitive to attract and retain new hires and transferees. Relocation Management Companies (RMCs) can provide expert assistance to employers to benchmark their relocation policies and add enhancements that attract talent.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients develop relocation programs that attract and retain qualified employees. Our team can help your company determine how to leverage 2019 migration patterns in the United States for talent acquisition and management.

GMS was the first relocation company to register as a .com, created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Contact our experts online to discuss your company’s relocation program needs. Give our experts a call at 800.617.1904 or 480.922.0700 today.

 

We're Here to Help! Request a Courtesy Consultation

Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.

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Domestic Relocation Domestic Relocation Tips Domestic Relocation Trends Job Market Job Seekers Labor Force

What are the Fastest Growing Jobs in Nevada?

LAS VEGAS, USA - JULY 14 : World famous Vegas Strip in Las Vegas, Nevada as seen at night on July 14, 2016 in Las Vegas, USA

What are the fastest growing jobs in Nevada? Known as “The Silver State” for the mid-1800’s silver rush, Nevada’s overall economy is the 8th best in the nation according to US News and World Report’s Best States Rankings. Nearly 75% of the state’s residents reside in Clark County. This county contains three of the state’s largest metropolitan areas, including:

Each of these cities carries its own identity, but are situated near each other in the metropolitan area. As a result, they often share borders, industries, employers, and employees. These cities are also considered best places to live in Nevada.

In addition to having a healthy overall economy, Nevada scores favorably in other rankings such as:

The Southwest region as a whole continues to experience high economic growth, including Nevada. The state’s economic outlook remains positive due to several underlying indicators including:

  1. Consumer spending
  2. High rate of taxable sales
  3. Increasing personal income
  4. Population growth
  5. Rising employment

Fastest Growing Jobs in Nevada

Any list of the fastest growing jobs is subject to change, depending on economic factors including availability of qualified employees, consumer spending patterns, and technological changes. However, recent studies show the fastest growth in these Nevada jobs:

Building Industry Jobs

  • Cement Mason

Electrical Jobs

  • Electrical System Assemblers
  • Licensed Electricians

Industrial Jobs

  • Industrial Engineers
  • Inspectors
  • Machinists

Manufacturing Jobs

  • Assemblers
  • Assembly Line Leaders
  • Production Operators

Service Jobs

  • Taxi and Shared Ride Drivers

Highlight on Industries in Las Vegas, Nevada

Las Vegas is the largest city in Nevada, with over 600,000 residents in the city proper. There are nearly 2.3 million residents in the entire Las Vegas metropolitan area. Las Vegas is one of the most famous resort cities in the United States, known for its world-renowned nightlife and entertainment options.

Las Vegas is known as “The Entertainment Capital of the World,” and is home to many large casinos, hotels, resorts, restaurants, and theaters. The city annually hosts many business conventions and is a global leader in the hospitality industry. Las Vegas annually ranks as one of the world’s most visited tourist destinations, with over 40 million visitors spending over $100 billion in the economy.

Major Employers in Las Vegas, Nevada

Within the Las Vegas metropolitan area, the major employers include several globally known names within the hospitality industry, including:

  1. Boyd Gaming
  2. Caesar’s Entertainment
  3. California Hotel and Casino
  4. Clark County School District
  5. Coast Casinos Inc
  6. Déjà vu Worldwide
  7. Diamond Resorts
  8. Dreyer’s
  9. Las Vegas Sands
  10. MGM Grand Las Vegas
  11. The Mirage – MGM Resorts
  12. MGM Resorts International
  13. Perry Johnson & Associates
  14. Scientific Games
  15. Southwest Gas Holdings
  16. The Cosmopolitan of Las Vegas
  17. The Mirage Resort and Casino
  18. The Venetian Las Vegas
  19. Wynn Las Vegas
  20. Wynn Resorts

Largest Industries in Las Vegas, Nevada

The largest industries in Las Vegas include:

  • Education
  • Food Products (Ice Cream)
  • Gaming
  • Healthcare Information Technology
  • Hospitality
  • Utilities

What Should Job Seekers do?

Job seekers should investigate the fastest growing jobs in Nevada for opportunities. A number of resources are available to learn about jobs and careers in Las Vegas. Professional networks such as Linkedin often provide a wealth of information on companies and contacts. Job seekers may want to focus on a specific location such as Henderson or North Las Vegas, and then narrow down their search by industry in Henderson or industry in North Las Vegas to specific job type. Job seekers should utilize professional career services to enhance their job search and achieve success in their career objectives.

Thriving locations such as Las Vegas often have many top tourist destinations. All of these destinations need job seekers to fill local employment opportunities in related and service industries, from Helicopter Pilot for tours over the city, to caring for the marine animals as an Aquarist at the Shark Reef Aquarium.

What Should Employers in Nevada do?

Employers in Nevada should examine their employment needs as economic growth fosters competition for job seekers with requisite skills and training. They should review their relocation program to determine if it benefits their talent acquisition goals and corporate objectives. Employers should work with a Relocation Management Company that has the knowledge and expertise to help them design a relocation program that promotes global talent acquisition.

Conclusion

GMS’ team of domestic relocation experts has helped thousands of our clients develop hiring and recruiting programs to attract highly skilled job seekers. Our team can help your company determine how to attract job seekers looking for employment opportunities in Nevada, or any other location around the world.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Contact our experts online to discuss your company’s recruiting, hiring, and relocation program needs in Nevada, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

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Domestic Relocation Trends Relocation Technology

Relocation Artificial Intelligence: What is on the Industry Horizon?

Editable vector illustration on layers. This is an AI EPS 10 file format, with transparency effects.

GMS clients in the technology sector recognize the positive aspects that relocation artificial intelligence can provide to their organizations. These clients operate on the cusp of technological innovation. As a result, many are actively working on innovative solutions that use computers to perform tasks that usually require human interaction. Their industry experiences provide real world examples that the relocation industry can leverage to improve many processes.

What is Relocation Artificial Intelligence?

Artificial intelligence (AI) can represent many different concepts and approaches. Ultimately, AI is the process whereby a machine can:

  1. Learn from what it experiences on its own
  2. Make adjustments based on its receipt of new inputs
  3. Perform tasks that mirror those performed by humans

These AI-capable machines often must process natural language patterns and utilize “deep learning.” In computer parlance, deep learning can be described as the creation and use of a large network of neurons by way of computers. This network can process a large amount of data. Deep learning is thus very similar to how human brains work. There are online certification courses and helpful resources related to Deep Learning Algorithms.

AI Developers can use computers with large amounts of data to train these large networks to respond and act similar to how humans would respond and act. Therefore, relocation artificial intelligence is the use of AI-capable machines to perform tasks usually performed by humans during a new hire or transferee relocation.

How Might Relocation Artificial Intelligence Impact Industry Processes?

Several industry processes might be impacted by the application of AI-capable machines. Processes that might change due to relocation artificial intelligence include those that require repetition of a task or a set of tasks following a specific set of rules, guidelines, and definitions.

The top 3 industry processes that might be impacted by AI include:

1. Moving Cost Estimating

Yembo has implemented AI into their moving cost estimating program. The company’s technology utilizes deep learning and robotics algorithms. This allows the program to recognize household goods, count them, and compile the information into a cost estimate. Users only need access to a mobile web browser to access the platform. The technology calculates results including percentage estimates for accuracy based on its visual perception.

2. Real Estate Appraisals

Appraisal uses AI to create a specific formula that allows the company to predict property values and then convert these values into accurate pricing. Their focus is on removing margins of error and guesswork from property valuations and forecasts for prices. As a result, this type of relocation artificial intelligence will greatly enhance pricing decisions.

3. Mortgage Loan Initiations

Black Knight launched Digital Point of Sale, an AI-powered solution that is integrated with the company’s Empower® loan origination system. The solution leverages the company’s artificial intelligence virtual assistant, “AIVA.”

What Does This Mean?

Relocation artificial intelligence is already in place for several industry processes. Many industry suppliers are leveraging AI to automate a number of tasks. Automation for repetitive tasks and processes will help reduce errors. Also, it will allow companies to focus on providing greater value in those areas that are not repetitive.

What Should Employers do About Relocation Artificial Intelligence?

Employers should work with a qualified and experienced Relocation Management Company (RMC). RMCs will have knowledge that can assist companies in understanding how processes that utilize AI can help their relocation program. They can also share recommendations and guidelines in case studies to ensure results meet expectations as well as increase new hire and transferee satisfaction.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients enhance their relocation programs through innovative technology solutions. Our team can help your company understand how relocation artificial intelligence in different processes can provide a wide range of benefits.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Contact our experts online to learn more about relocation artificial intelligence, or give us a call at 800.617.1904 or 480.922.0700 today.

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Domestic Relocation Trends Job Market Job Seekers Labor Force United States Economy

Which U.S. Cities Add Jobs at the Highest Rates?

A scene from Downtown Scottsdale at dusk with a canal and reflections in the foreground. Scottsdale is part of the Phoenix Metropolitan area.

With the U.S. economy continuing its pattern of growth, many job seekers want to know which cities add jobs at the highest rates. The U.S. Department of Commerce Bureau of Economic Analysis cites three factors leading to recent upward revisions of Gross Domestic Product (GDP) for the Third Quarter 2019:

  1. Non-residential fixed investment
  2. Personal consumption expenditures
  3. Private inventory investment

All three of these factors drive business growth, and this in turn leads to higher job creation. Also, the end of year holiday season often leads employers to hire additional staff. Companies often start their holiday season hiring efforts in August. The holiday season helps cities add jobs even as other industries may enter a slowing period of job growth.

States Where Cities Add Jobs at the Highest Rates

Only a few of the 50 states and the District of Columbia are represented in the top 20 list of where cities add jobs at the highest rates. These states include:

  1. Arizona
  2. Arkansas
  3. Colorado
  4. Florida
  5. Georgia
  6. Idaho
  7. Louisiana
  8. Nevada
  9. North Carolina
  10. Oregon
  11. Tennessee
  12. Texas
  13. Utah
  14. Washington

Cities add jobs at higher rates mostly in the southern and western portions of the United States. There may be several factors that contribute to this pattern, including costs, tax rates, economic incentives, weather, and amenities. Many of the states where cities add jobs are home to some of the most visited national parks and tourist destinations. Outdoor enthusiasts are often drawn to locations that provide a wealth of activities such as skiing, hiking, climbing, boating, and sight-seeing.

Which Top 5 Cities Add Jobs at the Highest Rate?

Throughout all of the U.S. the top 5 locations where cities add jobs at the highest rate are:

  1. St. George, UT
  2. Bend-Redmond, OR
  3. Reno, NV
  4. Nashville-Davidson-Murfreesboro-Franklin, TN
  5. Provo-Orem, UT

Depending on methodology, other lists might note different cities. “America’s Biggest Boomtowns” according to MagnifyMoney.com, the top 5 boomtowns where cities add jobs are:

  1. Austin, TX
  2. Provo, UT
  3. Raleigh, NC
  4. Charleston, SC
  5. Nashville, TN

Some of the cities are consistent from list to list. However, all of the states are similarly represented. Recent economic patterns show the southern and western portions of the United States reflect the greatest growth where cities add jobs at the highest rates.

What Should Job Seekers do?

Job seekers should consider looking into the locations where cities add jobs at the highest rates for their future opportunities. A number of resources are available to learn about jobs in St. George, Utah, or Austin, Texas. Professional networks such as Linkedin often provide a wealth of information on companies and contacts.

Job seekers may want to focus on a specific state where cities add jobs such as Utah or Texas, and then focus their search to a specific city or metropolitan area and job type. Job seekers should utilize professional career services to enhance their job search and achieve success in their career objectives.

What Should Employers do in Locations Where Cities Add Jobs at the Highest Rates?

Employers located where cities add jobs at the highest rates should examine their employment needs as economic growth fosters competition for job seekers with requisite skills and training. They should review their relocation program to determine if it benefits their talent acquisition goals and corporate objectives. Employers should work with a Relocation Management Company that has the knowledge and expertise to help them design a relocation program that promotes global talent acquisition.

Thriving locations such as St. George, Utah with its access to several national parks and recreation areas, and Austin, Texas with its renowned live-music scene also draw many visitors and tourists. These cities also need to fill local employment opportunities in tourism-related and service industries.

Conclusion

GMS’ team of domestic relocation experts has helped thousands of our clients develop hiring and recruiting programs to attract highly skilled job seekers to places where cities add jobs at the highest rates. Our team can help your company determine how to attract job seekers looking for employment opportunities in these growing cities.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Contact our experts online to discuss your company’s recruiting, hiring, and relocation program needs in locations where cities add jobs at the highest rates, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

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Domestic Relocation Domestic Relocation Challenges Domestic Relocation Tips Domestic Relocation Trends United States Economy

What Does the 2020 US Rental Market Look Like?

A scene from Downtown Scottsdale at dusk with a canal and reflections in the foreground. Scottsdale is part of the Phoenix Metropolitan area.

Employers with plans to relocate employees either to US cities or between two different US cities should be sure to understand the 2020 US rental market dynamics. Each rental market is unique, and rents vary depending on a variety of factors. The number of units available for rent, business and economic growth, and even weather and climate patterns can impact rents. A regular review of the state of the 2020 US rental market can uncover opportunities for transferees to consider new assignments as different markets experience changes in rental affordability.

2020 US Rental Market on a National Basis

For the 2020 US rental market, CBRE Research identifies the following top 4 major metropolitan areas for continuing rental market demand:

  • Atlanta, Georgia
  • Austin, Texas
  • Boston, Massachusetts
  • Phoenix, Arizona

Specifically, multifamily rents in suburban locations will rise faster than those in central urban cores due to stronger demand within high-growth areas.

On a national basis, rents over the past year are 1.4 percent higher, less than the current 1.8% overall rate of inflation, and less than the average hourly earnings rate increase of 3.0 % over the past 12 months, according to an analysis prepared by online rental marketplace ApartmentList.com.

2020 US Rental Market Large Cities with Fastest Rising Rents

The fastest rising rents for the 2020 US rental market among large cities is the city of Mesa, Arizona, heading into 2020 after experiencing an increase of 5% over the past year. This rate of growth is more than three times the national rate of rent increases. Why is Mesa experiencing such a fast increase in rents?

According to the Rental Housing Journal, renters looking to move to the Phoenix metropolitan area are most likely to be searching from the city of Los Angeles, California. Residents of Los Angeles appear to be relocating to Arizona rather than commute from more affordable locations in California.

Inland Empire cities such as Moreno Valley, Riverside, and San Bernardino all offer more affordable housing options than Los Angeles. Many of these cities are highly desirable locations to live, work, and raise a family. However, commuting times to work from these cities are often lengthy and filled with delays. Over 53% of Moreno Valley residents experience commuting time over 30 minutes. Comparing Moreno Valley commute times to the US average shows that residents of Moreno Valley consistently face longer commuting times:

Commute Time Comparison Over 30 Minutes: Impacts the 2020 US Rental Market

 Moreno Valley, CaliforniaUS Average
Commuting 30 to 34 minutes17.5%13.7%
Commuting 35 to 39 minutes4.0%2.9%
Commuting 40 to 44 minutes5.0%3.9%
Commuting 45 to 59 minutes9.8%8.1%
Commuting 60 to 89 minutes9.7%6.2%
Commuting more than 90 minutes7.4%2.7%

What Makes Mesa, Arizona a Top Location for the 2020 US Rental Market?

Job Growth

Among large US cities, Mesa is uniquely positioned in the state of Arizona to capitalize on a number of factors. Proximity to Phoenix is key, with Mesa being only 15 miles to the east. Also, the city of Scottsdale, a major job hub and generator, is just 12 miles to the north. In 2019, Scottsdale ranked as the #1 best city to find a job according to CNBC Make It.

Mesa, Phoenix, Scottsdale, and many other cities in the metropolitan area are experiencing tremendous growth in jobs, impacting the 2020 US rental market. As noted by Arizona Governor Doug Ducey, the state of Arizona ranks #2 in the US for year-over-year job growth, according to the US Bureau of Labor Statistics. Sperling’s Best Places reports that Mesa has seen its job market increase by 3.3% over the past year. Additionally, future job growth in Mesa is projected to be 47.1%, much higher than the US average of 33.5%. Growth in jobs is a driving factor for rising rents in the 2020 US rental market.

Cost of Living Impact on 2020 US Rental Market

The cost of living in Mesa is just 4% higher than the average cost of living in the US. The average cost of most consumer items including groceries, health, utilities, and miscellaneous items is at or below the US average, so the 2020 US rental market reflects strong demand. Mesa’s cost of living compares favorably with many other nearby cities such as Chandler, Gilbert, Scottsdale, and Fountain Hills.

Population Growth

As the Phoenix metropolitan area’s jobs and economy continue to grow, more residents are drawn to Mesa. As a result, the 2020 US rental market analysis clearly shows demand for housing places upward pressure on rents.

The city of Mesa as well as private developers are actively pursuing several construction projects that will increase the number of rental units. The city is constructing a building downtown in an effort to attract Arizona State University classes by spring of 2022. According to investors, Mesa is seen as “next” in line for development, since the city has light rail service, and is centrally located to many other Valley destinations.

Following Mesa in the rising rent category for large cities are Henderson, Nevada (suburb of Las Vegas) at 4.3%, and Phoenix, Arizona at 3.9%, due to increasing job growth and continually expanding populations.

2020 US Rental Market Areas with Declining Rents

The largest decline in rents (2% or more) is occurring in these three US cities:

  • Dearborn Heights, Michigan: -5.2%
  • Pascagoula, Mississippi: -2.3%
  • Bismarck, North Dakota: -2.0%

Dearborn Heights, Michigan is a suburb of Detroit. It ranks as #31 in the best places to raise a family in Wayne County, Michigan. The city is experiencing a weak job market and other quality of life issues that negatively impact its rental market.

Pascagoula, Mississippi has been experiencing a decline in population, matching a decline that has been persistent across the state of Mississippi for several years. By comparison, Bismarck, North Dakota, the state’s capital city, is experiencing a stronger and stable housing market that appears to be drawing residents toward single-family homes. As a result, the 2020 US rental market for Bismarck shows a trend away from apartments. Also, jobs are slightly declining in Bismarck so there is little upward pressure on rents.

Conclusion

GMS’ team of domestic relocation experts has helped thousands of our clients understand how to respond to changing rental market dynamics. Our team can help your company determine how to leverage the 2020 US rental market for transferees.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Contact our experts online to learn more about how the 2020 US rental market might impact your company’s corporate growth initiatives, or give us a call at 800.617.1904 or 480.922.0700 today.

We're Here to Help! Request a Courtesy Consultation

Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.

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Buy a Home Domestic Relocation Domestic Relocation Tips Domestic Relocation Trends Home Purchase United States Economy

Winter Home Sellers More Likely to Find Serious Buyers

When it comes to the best season for home sales, winter home sellers are more likely to find serious buyers. Most people commonly believe spring is the most ideal season for home sales. As a result, sellers often wait until spring arrives to consider listing their home for sale.

Home sales during summer and fall lead to a reduction in market inventory. Sellers who wait for spring to place their home on the market further reduce the number of homes for sale in the winter months. As a result, winter home sellers gain a clear advantage. Less homes on the market allows their home to have greater visibility among serious buyers.

5 Specific Advantages for Winter Home Sellers

Beyond less competition from other homes, there are 5 specific advantages for winter home sellers:

1. Buyers in winter are serious buyers

Many people enjoy winter for its snow-filled beauty and wide range of outdoor sports such as ice skating, skiing, and sledding. However the season is also known for several major holidays, unpredictable and sometimes caution-producing weather, travel, and year-end work commitments. Only serious buyers would be looking for a home during this season. Buyers who make an appointment to see your home are not window shopping for homes as spring buyers often do. Rather, they are specifically interested in your home and its amenities. Winter home sellers can be assured that buyers truly want to purchase in the near term. Many times these serious buyers are relocating to take a new job or transferring to a new location with their current company.

2. Days on the market are less of a concern to serious buyers

Some home buyers use the number of days a home is on the market as an indicator. This indicator could mean any of several things, such as:

  • Condition of the home and property is not comparable
  • Location of the home is not desirable
  • Pricing compared to other homes on the market is not consistent
  • Seller does not have motivation to sell or is hard to work with

However, days on market is less concerning to serious buyers in winter. For example, winter home sellers whose home has been on the market since fall may benefit from buyer’s interest in working with sellers who are fully intending to sell.

3. Realistic decisions on pricing are easier to make during winter

Winter home sellers have an advantage when listing their home. Comparable homes on the market since the summer and fall seasons provide an excellent guide for realistic pricing. These home sellers often have adjusted their pricing to be consistent with or slightly below recent sales. This in turn will help them attract the right buyers looking for homes like theirs. Realistic pricing decisions for winter home sellers are easy to make by reviewing comparable homes.

4. Sellers who need to buy face less competition as they search for their new home

While buyers are searching for homes, winter home sellers gain from having less inventory for their home to compete with. At the same time, if those sellers need to buy a home, they also benefit from having less buyers to compete with. Sellers who must also buy have an advantage since winter holds down excess competition from other buyers. If they are the only ones looking at a specific home, chances are good that their offer will be taken seriously.

5. Spring season is just around the corner, just in case more buyers are needed

Some winter home sellers may not sell their home before spring arrives. The arrival of spring usually brings many more buyers into the market, including more families with children who want to plan moves during the summer. More buyers coming into the market means there will be more views of the home listing and perhaps more visits to the home. Winter home sellers may be seen as especially motivated to sell. As a result, homes should be freshened for the new season, and pricing should be reviewed to determine if it is still comparable or if adjustments must be made.

What Should Winter Home Sellers do?

Winter home sellers should consider placing their home on the market. Those who are able to do so benefit from serious buyers, less competition, and the ability to have their home ready to sell early in spring if they have not yet sold. Something to keep in mind is that a few markets exhibit stronger buying patterns during the winter season. Scottsdale, Arizona winter home sellers often experience the best home sale outcome by listing their home for sale in January.

Conclusion

Global Mobility Solutions’ team of corporate relocation experts has helped thousands of our clients and their transferees with real estate needs when it comes to relocation. We can help your company understand how to obtain the best advantage for home sales and purchases, whether selling a home during winter as part of a relocation by leveraging the GMS Buyer Value Option (BVO) program, or buying from winter home sellers in a new location.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Learn best practices for winter home sellers from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online or give us a call at 800.617.1904 or 480.922.0700 today.

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Domestic Relocation Domestic Relocation Challenges Domestic Relocation Tips Domestic Relocation Trends Job Market Job Seekers Labor Force Talent Mobility

North American Van Lines Survey Shows Why Americans Stay in Their Hometown

North American Van Lines’ recent survey shows why Americans stay in their hometown. Over 2,000 respondents were asked if they moved in relation to their hometown. Of those that have moved but remained in the same city or area, several reasons impacted their decision including:

  • Ability to stay close to family members
  • Cost of living is lower than other locations
  • Knowledge of and preference for local area
  • Environment, weather, and climate are more favorable
  • Near to place of work

Primary Reason Americans Stay

Those who responded to the North American Van Lines survey that stay in or close to their hometown represent:

  • Men: 68%
  • Women: 75%

The primary reason that Americans stay in their hometown is to remain close to their family members. This reason is remarkably consistent across genders.  48% of men and 51% of women reported staying close to family members as their primary reason for doing so.

Results Show the Importance of Family Support in Relocation

For the survey respondents who have moved out of state away from their hometown, 70% reported work as the primary reason for their move. Since Americans stay in their hometown to remain close to family, those that choose to relocate for their job often inquire about support for their partner, spouse, and family members. Important points for family members, partners, and spouses to consider in a relocation may include:

  • Care for elderly parents and relatives
  • Child care arrangements
  • Community resources and networks
  • Educational opportunities
  • Healthcare options and resources
  • Home finding resources
  • Job market and career assistance for spouses and partners (very important consideration as to why Americans stay in their hometown)
  • Transportation options including driver’s licenses
  • Utility setup and connections

Case Study Shows Importance of Spouse and Partner Career Support

GMS’ Case Study on Educational Institution Relocation Programs shows the importance of local job and career assistance for partners and spouses. Our client learned that new hires were departing within a year due to the lack of local job support for partners and spouses. By redesigning their relocation policy and adding career services for partners and spouses, our client was able to significantly increase their new hire retention rates.

What Should Employers do About the Primary Reason Americans Stay in their Hometown?

Employers should review their relocation program to ensure it follows industry-leading best practices with regard to family matters as well as partner and spouse career support. Companies should work with a qualified and experienced RMC that can help them design a relocation policy that promotes successful relocations. Partner and spouse career considerations should be included in the transferee’s relocation experience. Family support is also critical to reduce any disruption from the move. Having full family support provides peace of mind for the transferee, their partner or spouse, and their family members.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients develop relocation policies and programs that address the reasons why Americans stay in their hometown. Our team can help your company design a robust relocation program. As a result, the program will provide the best relocation experience for your company’s transferees and their family members.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation™ technology platform.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Contact our experts online to discuss your company’s relocation program and the need to address the reasons why Americans stay in their hometown, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

Categories
Domestic Relocation Domestic Relocation Challenges Domestic Relocation Tips Domestic Relocation Trends Job Market Job Seekers Talent Mobility United States Economy

Domestic Short Term Assignments Best Practices: White Paper

GMS has recently published a new white paper listing domestic short term assignments best practices and tax considerations. Companies are increasingly using these assignments for special projects, corporate initiatives, and business opportunities. By leveraging the willingness of current employees to accept domestic short term assignments, companies can respond to changing priorities quickly and efficiently.

What is a Domestic Short Term Assignment?

A domestic short term assignment is a temporary assignment or job that lasts for one year or less, according to IRS definitions. Often the company’s relocation policy is focused on benefits and programs for employees and family members moving to a new location. Transferees that accept domestic short term assignments will need a different range of benefits and support, since they will return to their home after the assignment is complete. They may need assistance with travel, temporary housing options, or transportation solutions while at the new location.

As a result, relocation programs should address the specific needs of transferees who take short term assignments. By following domestic short term assignments best practices, companies will accrue the greatest benefits, while transferees will receive the best experience.

Domestic Short Term Assignments Best Practices: 3 Examples

A review of domestic short term assignments best practices shows it is important to examine the transferee’s assignment experience in detail. Such a review will help the company manage costs and ensure the best experience for the transferee.

For example, three specific topics highlight the importance of domestic short term assignments best practices to address points that relocation policies usually do not address:

1. Return Trips During Assignments

Domestic short term assignments best practices for return trips is to provide two trips home for every 30 days of assignment. Relocation policies usually do not include a series of return trips home, since the transferee is relocating to the new location.

2. Domestic Short Term Assignments Best Practices for Local Transportation

Domestic short term assignments best practices for local transportation is to provide one of the following two options, whichever is lowest cost:

  • Short term leasing option
  • Shipment of transferee’s vehicle for duration of assignment

Note: longer term assignments should provide local rental vehicle

3. Property Management at Origin Location

Domestic short term assignments best practices for property management at origin is to offer this option to assignments greater than 6 months. Best practice includes making additional copies of keys and fobs for the property management team so you always have spare keys and fobs on hand if required. Options typically include the lowest cost of either:

  • Property management reimbursement or direct bill
  • Stipend or housing differential

What Does This Mean?

Companies should follow domestic short term assignments best practices. This will ensure they can obtain the greatest benefit from this approach while controlling costs. This will help the company be able to respond quickly to changing business priorities.

How Can Employers Learn About Domestic Short Term Assignments Best Practices?

Employers should work with a qualified and experienced Relocation Management Company (RMC) to learn about domestic short term assignments best practices. Companies should review their relocation policy to ensure it follows industry best practice for relocation benefits provided to employees who take domestic short term assignments.

GMS tailors each client’s program based on specific budgets, needs, and compliance. As a result, clients can offer an industry-leading relocation program designed to fully meet the needs of these employees. This helps ensure successful assignments and increases employee satisfaction.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients understand how to incorporate domestic short term assignments best practices into their relocation programs. Our team can help your company design a relocation policy that provides the best experience for employees during their temporary assignments.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation™ technology platform.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Contact our experts online to discuss how your company can learn more about domestic short term assignments best practices, or give us a call at 800.617.1904 or 480.922.0700 today.

View the White Paper

Categories
Domestic Relocation Domestic Relocation Tips Domestic Relocation Trends Job Market Job Seekers Labor Force United States Economy

Federal Agency Relocation to Move Jobs Outside the Beltway

A new Bill sponsored by two United States Senators will result in federal agency relocation outside of the Washington, D.C. beltway area. The Bill calls for enactment of the “Helping Infrastructure Restore the Economy (HIRE) Act.” One goal of the HIRE Act is to help certain areas of the country build necessary infrastructure. As a result, this will support future economic growth. Another goal of the HIRE Act is to provide access to good jobs for a greater number of Americans throughout the nation. Several states will see an influx of high paying jobs to economically distressed areas.

The HIRE Act will move policymakers directly into communities impacted by their policies. This should help them see how policies their agency creates affect local areas outside of the beltway. There may also be long term savings for the agencies in a number of other areas including labor, maintenance, and energy costs.

Federal Agency Relocation: The Bill and its Sponsors

Bill:

Helping Infrastructure Restore the Economy (HIRE) Act

Requires federal agency relocation for headquarters and permanent duty stations of its employees.

Sponsors:

Senator Josh Hawley, Missouri

Senator Marsha Blackburn, Tennessee

Ten Agencies Subject to the HIRE Act

The HIRE Act identifies ten federal agencies that may be subject to relocation:

The Departments of

  1. Agriculture
  2. Commerce
  3. Education
  4. Energy
  5. Health and Human Services
  6. Housing and Urban Development
  7. Interior
  8. Labor
  9. Transportation
  10. Veterans Affairs

Ten States Stand to Benefit from Federal Agency Relocation

The HIRE Act identifies ten states with significant economic distress over the past decade:

  1. Indiana
  2. Kentucky
  3. Michigan
  4. Missouri
  5. New Mexico
  6. Ohio
  7. Pennsylvania
  8. South Carolina
  9. Tennessee
  10. West Virginia

Of these ten states, eight share borders and are situated in the Midwestern region of the country. South Carolina is located along the Southeastern coast, and New Mexico is located in the Southwest.

Economically Distressed Areas Defined

The HIRE Act defines the criteria that will determine economic distress. These criteria are further segmented into “Priority Criteria” and “Secondary Criteria.”

Priority Criteria include low rates of education, workforce participation, and income. Poverty rates and housing vacancies are also in this criteria.

Secondary Criteria include current infrastructure, ability to expand infrastructure, and the size of the local workforce.

Additional Points for Federal Agency Relocation

Further to the criteria that determines economic distress, the HIRE Act includes a specific limitation:

  • No location may be within 30 miles of a city with over 800,000 residents

The HIRE Act requires the relocation proposal to focus on as small a geographic size as possible. For example, within the state of Indiana, “southern Indiana” would most likely be considered too large a geographic size. However, the town of Lyons in Greene County may qualify.

Federal Agency Relocation Example: Lyons, Indiana

Economically Distressed Area

Lyons has a “Distress Score” of 123.23, the highest such score in Indiana. Lyons is about 87 miles from Indianapolis, IN; 260 miles from Chicago, IL; and 95 miles from Evansville, IN. However, Lyons is only about 50 miles from Terre Haute, IN (60,000 residents). Lyons is also about 50 miles from Bloomington, IN (85,000 residents). As a result, there are two cities of substantial size within less than an hour’s drive for residents of Lyons. Lyons appears to meet the geographic limitation of the HIRE Act.

Workforce and Infrastructure

While Lyons’ population is approximately 700 residents, Greene County has about 32,000 residents. Lyons is also near two major Interstate Highways: I-70 is to the north, and I-69 is to the south. U.S. Highways 150 and 231 are also nearby. The county’s workforce size may suffice for federal agency relocation. Depending on the definition of infrastructure, highways and airports near Lyons may also meet the HIRE Act’s criteria.

Opportunity to Double the Impact of a Federal Agency Relocation

The town of Switz City has a “Distress Score” of 120.97, the second highest such score in the state. Switz City is located only about 4 miles from Lyons. Federal Agency Relocation to Greene County Indiana near or between the towns of Lyons and Switz City initially seems possible. A federal agency setting its headquarters and job location for employees in this area would have a positive economic impact on the two towns in the state of Indiana with the highest Distress Scores. The HIRE Act notes that Health and Human Services would relocate to Indiana. This federal agency relocation could result in the move of thousands of employees to this region.

What Should Employers do?

Employers in the ten states identified as economically distressed by the HIRE Act should expect a rise in demand for workers due to federal agency relocation. Companies should examine their corporate growth initiatives to ensure they can remain competitive as the local labor market changes.

Companies that interact with federal agencies in their current location should review their relocation programs. Employers may need to consider relocation for employees to be near the agency’s new headquarters location.

Industry Benchmarking Studies Help Employers Compare Their Relocation Program

GMS has recently published several Industry Benchmarking Studies to help employers learn whether their company’s relocation program is designed following industry-specific best practices. There are many benefits to a corporate relocation policy benchmarking.

Industry best practice is to schedule a relocation program and policy review every 12 to 18 months to ensure your company maintains its competitive position. This review will also help your company learn about how the relocation industry is evolving to meet increased employee demands.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients understand how to respond to labor and economic market forces such as federal agency relocation. Our team can help your company by using industry best practices to design your relocation program.

GMS was the first relocation company to register as a .com, created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation™ technology platform.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Contact our experts online to discuss your company’s interest in learning more about federal agency relocation due to the HIRE Act and its impact on local areas and labor markets, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

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