The Northwest Arkansas Council, made up of business leaders who aim to promote growth in the region, announced a crypto incentive program to bring in technology professionals and entrepreneurs willing to work remotely.
In Wednesday's announcement, council President and CEO Nelson Peacock said the area will look to expand its talent pipeline in the tech industry by offering $10,000 in Bitcoin ( BTC ) - about 0.23 BTC at the current price of $43,610 - in addition to a bike or membership to arts and cultural institutions. The "Bitcoin and a Bike" program, the next phase of the local Life Works Here initiative, aims to embrace professionals in blockchain-related fields. The program will offer a crypto incentive to eligible individuals who are willing to live for at least a year in northwest Arkansas - likely 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 explosive growth in our technology sector," Peacock said.
"This expanded incentive offering [...] not only covers the growing trend of employers using cryptocurrency as a payment option, but also helps increase our talent flow to benefit tech employers, startups, cities, local businesses and the region overall."
Among the requirements for candidates are the ability to work remotely , move to the area within six months of acceptance and two years of experience in a current position in the technology industry. Northwest Arkansas is already home to Walmart's Bentonville headquarters - 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 at the University of Arkansas. Excellence, offering education on technologies that support blockchain.
"Next-generation talent is essential to continuing to transform our region into a hub for emerging technology innovators and companies," - said Blockchain Center of Excellence Director Mary Lacity.
Many reports have seemingly advertised Northwest Arkansas as an alternative to emerging tech hubs in the U.S., such as Austin, Texas - while the number of companies in the city has grown significantly over the past year, the growing interest has led to rising rent and housing costs . The exodus to the Midwestern state may be premature, but companies, including electric vehicle maker Canoo, have announced plans to establish headquarters in the northwestern region of the state.
