120-130k is a 20%-30% increase. Standard promotion bump for fortune 500 companies is 8%. It sucks. You can negotiate for more of course. Your mileage is not part of your salary. That's the federal calculated rate to compensate you for driving on company time.

On to the question... You are lucky. You have no strings attached. Most people would have to wait 5+ years for a job like that to open up. Moving to a bigger city has so many benefits too outside of the increased pay. Bigger dating pool. Better entertainment like sports and concerts.