🏙️ Newly available IRS data provides insights into the economic and fiscal consequences of the pandemic-era exodus from large cities.

@Neil_Irwin and @Courtenay_Brown outline findings from EIG's new analysis in @axios: axios.com/newsletters/ax…
Between 2020 and 2021, net migration out of large urban counties subtracted more than $68 billion from these counties’ aggregate taxable income—equal to nearly 2% of their total taxable income.

#NEW: The first economic impact analysis of the largest remote worker incentive program, @tulsaremote.

The ​​first cohort of members will contribute $62 mil. in new local earnings in 2021—a near-14x return for each $1 spent on the incentive 🧵⬇️
eig.org/tulsa-remote .@tulsaremote offers $10K to eligible remote workers who move to Tulsa to live and work for at least one year.
- Over 1,200 will have moved to the city by year’s end
- Avg. income of program members = $104,600
- 88% of program members have at least a bachelor’s degree

#OpportunityZones is the largest community development initiative in a generation. However, size isn't the program’s only strength; it is the flexibility of this policy that makes it a potential game changer for communities. The low-income communities that comprise OZs have a wide range of needs. #OpportunityZones offer communities an adaptive tool to support their own local approach to economic development. Some examples illustrate the opportunity and impact: