Northwest Arkansas Offers $ 10,000 worth of Bitcoin to Attract Telecommuters

Northwest Arkansas Offers $ 10,000 worth of Bitcoin to Attract Telecommuters

The Northwest Arkansas Council, made up of business leaders aimed at promoting the region’s development, has announced a cryptocurrency incentive program to attract tech professionals and entrepreneurs willing to telecommute.

In an announcement on Wednesday, council chairman and CEO Nelson Peacock said the zone would seek to broaden its range of talent in the tech industry by offering $ 10,000 worth of Bitcoin (BTC) – roughly 0.23 BTC at the current price of $ 43,610. , plus a bike or a membership in arts and cultural facilities. The program “Bitcoin and a Bike”, The next stage of the Life Works Here initiative in the area is specifically aimed at welcoming professionals from fields related to Blockchain technology. The program will offer the monetary incentive to individuals who are eligible and willing to live for at least one year in Northwest Arkansas, presumably near the cities of Fayetteville, Springdale, Rogers, and Bentonville.

“Northwest Arkansas is one of the fastest growing regions in the country, and we are now seeing more explosive growth in our technology sector,” Peacock said.

“This extended incentive offer […] Not only does it embrace the growing trend towards using cryptocurrency as a payment option by employers, but it also helps grow our talent pool to benefit tech employers, startups, cities, local businesses, and the region in general “.

Bentonville, Arkansas from above. Source: Northwest Arkansas Council

Requirements for applicants include the ability to telecommute, relocate to the area within six months of acceptance, and have two years of experience in their current position in the technology industry. Northwest Arkansas is already home to the headquarters of large retail company Walmart in Bentonville, the Walton Family Foundation contributes to the Bitcoin and a Bike program and Walmart founder Sam Walton was a founding member of the council, as well as the Blockchain Center of Excellence of the University of Arkansas, which offers training in blockchain-based technology.

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“The talent of the next generation is essential to continue transforming our region into a center of innovators and emerging technology companies,” said the director of the Blockchain Center of Excellence, Mary Lacity.

Many reports have seemingly touted Northwest Arkansas as an alternative to America’s growing tech hubs like Austin, Texas). Although the number of businesses in the city has increased considerably in the last year, the growing interest has led to an increase in rental and housing costs. It may be premature to see an exodus to the Midwestern state, but companies like electric vehicle maker Canoo have announced plans to establish their headquarters in the northwestern region of the state.

Before and during the pandemic, many midsize cities in the United States offered similar programs with monetary incentives for those interested to telecommute, apparently in an effort to promote the local economy. The NWA Board launched the Life Works Here initiative in November 2020, but Tulsa, Oklahoma was one of the first to offer certain individuals $ 10,000 for moving to the town in 2018, while West Virginia, Kansas, Vermont, Connecticut and Alabama followed suit.

Notice: The author of this note applied to the Bitcoin and a Bike program.

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