The Northwest Arkansas Council has unveiled a crypto incentive program to attract remote-working. These are IT professionals and entrepreneurs, a group of business leaders dedicated to the region’s growth.
“Further transforming our region into a magnet for up-and-coming tech innovators and enterprises need next-generation talent,” said Mary Lacity, director of the Blockchain Center of Excellence.
Northwest Remote Expansion
According to Nelson Peacock, the area hopes to expand its pool of IT talent by awarding $10,000 in Bitcoin (BTC) — around 0.23 BTC at the current price of $43,610. This is in addition to a bicycle or membership to arts and cultural centers. Peacock is the council’s president and CEO. The “Bitcoin and a Bike” program, which is the next step in the area’s LifeWorks Here campaign, is geared toward blockchain experts. Qualifying persons willing to live in Northwest Arkansas for at least a year will be eligible for the cryptocurrency incentive. This people likely lives near Fayetteville, Springdale, Rogers, and Bentonville.
“Northwest Arkansas is among the fastest-growing states in the country, and our IT industry is experiencing even more explosive growth,” Peacock said.
Moreover, applicants move to the area within six months of acceptance. Another is, they should have two years of experience in the computer field at their current job. Walmart entrepreneur Sam Walton was a founding member of the Bitcoin and a Bike committee, and the Walton Family Foundation is contributing to the initiative. The University of Arkansas’ Blockchain Center of Excellence is also located in Northwest Arkansas. They offer blockchain-enabled technological education.
While the number of firms in the city has expanded dramatically in the previous year, the increased interest has resulted in rising rent and housing rates. It may be early to predict a migration to the Midwest state. However, companies such as electric vehicle manufacturer Canoo have declared plans to establish headquarters in the state’s northwest region.
Many mid-sized U.S. communities sponsored similar schemes with cash incentives for transplants to work remotely. This is before and during the pandemic ostensibly to boost the local economy. The LifeWorks Here campaign was launched by the NWA council in November 2020.
Tulsa, Oklahoma was one among the first to give $10,000 to those who wanted to relocate in 2018. These Communities are in West Virginia, Kansas, Vermont, Connecticut, and Alabama following suit.
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