Northwest Arkansas is offering $10K in Bitcoin and bike to relocate there

Northwest Arkansas is offering $10K in Bitcoin and bike to relocate there

How about this as an incentive to relocate: $10K in crypto and a bike. 

Northwest Arkansas hopes to lure remote tech workers and entrepreneurs to the region by offering them $10,000 worth of Bitcoin (BTC-USD) and a bicycle. 

“Northwest Arkansas is one of the fastest-growing regions in the country, and we’re now seeing more explosive growth in our tech sector,” said Nelson Peacock, president and CEO of the Northwest Arkansas Council.

“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.”

Fayetteville is the third-largest city in Arkansas and county seat of Washington County. Fayetteville is on the outskirts of the Boston Mountains, deep within the Ozarks.

Northwest Arkansas has more than 10,000 job openings and a shortage of talent to fill available STEAM [science, technology, engineering, art or math] jobs, according to the Life Works Here initiative website, which is aimed at attracting professionals to the area. 

Remote workers with jobs or entrepreneurs who are self-employed can apply for either $10,000 in cash or Bitcoin. Recipients will also receive a street or mountain bicycle to explore the outdoors. 

Potential transplants must be able to relocate to Northwest Arkansas within six months of acceptance, sign a lease for local housing or purchase a house, be at least 24 years old, and have full-time remote employment.

The Life Works Here initiatives launched in November 2020 have so far generated over 36,000 applications from more than 115 countries and 50 states.

EV startup Canoo (GOEV) recently announced it is relocating its headquarters to Northwest Arkansas and establishing an R&D center in the area. 

Walmart (WMT) has its HQ in Bentonville, Arkansas. Tyson Foods (TSN) and JB Hunt (JBHT) are also located in the state. 

Ines is a markets reporter covering stocks from the floor of the New York Stock Exchange. Follow her on Twitter at @ines_ferre

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