An influx of new residents can provide local governments with a substantial boost, whether they’re adding to tax rolls or spending their dollars supporting local businesses.
Last week, the Internal Revenue Service (IRS) released long-awaited migration data shedding light on migration patterns for counties and states. New data for 2011 and 2012 includes total incomes for those who moved, helping to approximate wealth gained or lost and its potential impact on local budgets.
A range of factors influence a person’s decision to move. Most often, employment considerations largely dictate where people opt to relocate. Others, depending on their circumstances, decide more based on family-related reasons. An area’s amenities, taxes and educational opportunities also all typically play some role in decisions to move.