The US region is offering exceptional encouragement to attract entrepreneurs and technology professionals.
A region of the United States is looking to attract professional talent with a somewhat unusual incentive.
This is Northwest Arkansas, a metropolitan area and region of the state of Arkansas comprised of the cities of Fayetteville, Springdale, Rogers, and Bentoville, which is offering remote tech workers $10,000 payment in Bitcoin to move to the region.
The Northwest Arkansas Council, a non-profit organization, is investing more than a million dollars to attract the best talent and encourage business growth and innovation in that region, according to a local media. In addition to Bitcoin, professionals coming to Arkansas will also receive a city or mountain bike.
“Northwest Arkansas is one of the fastest growing regions in the country, and we are now seeing more explosive growth in our technology sector“, said about the initiative the president and CEO of the organization, Nelson Peacock; who added:
This expanded incentive offering (Bitcoin and a bike) not only embraces the growing trend toward employers using cryptocurrencies as a payment option, but also helps grow our talent pipeline to benefit tech employers, startups, cities, local businesses and the region in general.
Incentive of USD $10,000 in Bitcoin or cash
The initiative is part of a broader effort to attract migration to the region and establish a technology hub. Although the offer focuses on entrepreneurs and professionals in technological areas such as blockchain, is open to other applicants who want to make Northwest Arkansas their new home.
The incentive is part of a campaign “life works here“, which the Council has been promoting since 2020 to attract different types of talent to the region. The offer was based on a payment of $10,000 in cash and a bicycle, but the organization has decided to offer the incentive in cryptocurrency as a way to attract experts in technological areas.
Interested parties can still request the cash incentive, if they do not wish to take it into Bitcoin. They also have the possibility to exchange the bicycle for a free membership to theaters, museums or other cultural institutions in the locality.
The campaign, financed by the Walton Foundation, of the family of the owners of the chain Walmart, has attracted more than 35,000 applicants from more than 110 countries to date, the council said.
To be eligible, applicants must be over the age of 24, have at least two years of work experience, and currently live outside the state of Arkansas. They must also be US citizens or have the required credentials to legally work in the US. To receive the reward, those accepted into the program must be ready to relocate to the region within six months of being accepted and sign a lease for one year or buy a house in the locality.
Those interested in applying can visit the official website of the campaign.
Northwest Arkansas seeks to drive innovation
The Blockchain Center of Excellence of the University of Arkansas, an agency associated with the Northwest Arkansas Council, is particularly excited about the initiative.
The director of the Center, Mary Lacity, expressed her enthusiasm for the efforts to attract talent and generate interest for “the important work focused on Blockchain that is carried out in our region“. Lacity highlighted in this regard to a local media:
We believe that next-generation talent is essential to further transforming our region into a hub for up-and-coming technology innovators and companies.
According to the report, the technology arm of the University of Arkansas will provide technical expertise and advice related to the specific needs of offerings related to blockchain technology. In this way, it will join the efforts to promote the growth of the region as a technological and cryptographic center.
Article by Hannah Estefanía Pérez / DailyBitcoin
Unsplash image edited in Canva