The Northwest Arkansas Region Portrays itself as Crypto-Friendly

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Key takeaways:

  • A foundation in Northwest Arkansas is offering $10,000 in free bitcoin to attract tech workers.
  • The deal also includes a free bike, and more than 35,000 people have applied so far.
  • It’s one of more than a dozen US programmes aimed at attracting remote employees that were developed during the pandemic.
Northwest Arkansas Region Portrays Itself As Crypto-Friendly
Northwest Arkansas Region Portrays itself as Crypto-Friendly

To entice immigrants to Northwest Arkansas, a group is providing $10,000 worth of free bitcoin.

According to the Northwest Arkansas Council, which is offering the incentive, it’s part of a larger campaign to encourage migration to Northwest Arkansas and to establish a crypto hub there. The offer is open to anyone who wants to make the move, the council said Wednesday. While the council is primarily interested in attracting tech workers and entrepreneurs with a blockchain interest, it is open to anyone who wants to make the move.

In a news release, the council’s president and CEO, Nelson Peacock, said that the offer “embraces the growing trend toward businesses using cryptocurrencies as a payment option, but also helps increase our pipeline of talent.”

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Since November 2020, Northwest Arkansas has been enticing artists, entrepreneurs, and other types of IT talent to relocate to the region with a $10,000 cash prize and a bike – winners could choose between a road cycle and a mountain bike.

According to Axios, the council intends to help fill the roughly 7,500 open technology jobs predicted in the coming decade by offering bitcoin incentives. Northwest Arkansas also has a tech cluster called the Blockchain Center of Excellence on the University of Arkansas campus, which leads academic research on blockchain technologies.

Several localities, including Northwest Arkansas, have attempted to attract remote workers during the pandemic. Tulsa, a nearby city, offered staff $10,000 to relocate in November 2020, and one couple who accepted the offer called it “the best decision we’ve ever made.”

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Greensburg, Indiana, gave newcomers $5,000 and offered to provide senior citizen caregivers to families with children, while Ascend WV, a West Virginia initiative, paid $12,000 in exchange for living and working in the state for two years. Because there were so many applicants, the programme provided individuals who weren’t chosen a $2,500 discount on their mortgage.

Vermont, Alabama, Kansas, and more than a dozen other cities and towns around the United States have offered their own incentives, such as up to $20,000 in cash, free internet, or a relocation allowance – one municipality even offered a free house.

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Chetna Prakash