The Northwestern Arkansas Council has launched an initiative to attract talent to the Northwestern region of Arkansas by offering free bitcoin to individuals. Accepting individuals will be given up to $10,000 worth of free Bitcoin to help with relocation.
The region has witnessed growth in both the tech and business sectors and is therefore looking for strategies to continue this growth with talent that is well versed in blockchain technology.
In addition to the free bitcoin, the Northwestern Arkansas Council also plans on incentivizing potential transplants with a street or mountain bike, or alternatively a free membership to a variety of cultural attractions in the region.
This incentive is part of the Life Works Here initiative that aims to grow existing talent in the region by bringing in more from other areas of the U.S. It has proven to be successful, having already brought in over 35,000 applications from all over the world.
Northwestern Arkansas is mainly interested in growing its STEM professionals, and those interested in applying can do so here.
These applications will then undergo revision by the Northwestern Arkansas Council, as well as the Center for Blockchain Excellence at the University of Arkansas.
The Center for Blockchain Excellence was founded in 2018 and is a big contributor to why the region is becoming renowned for its tech talent.
As CEO and president of the Northwestern Arkansas Council explains, “This expanded incentive offer — Bitcoin and a Bike — not only embraces the growing trend toward the use of cryptocurrency as a payment option by employers but also helps increase our pipeline of talent to benefit tech employers, startups, cities, local businesses and the region overall.”
The initial $10,000 incentive has been offered for several years now. However, the increased prevalence of blockchain and cryptocurrency urged lawmakers to provide a more targeted inventive package.