Today, the Northwest Arkansas Council announced that it would offer $10,000 in bitcoin for tech entrepreneurs and professionals looking to move to the area. This incentive embraces the need for talent within the region’s growing tech sector, specifically within blockchain-enabled technologies, and in doing so, Northwest Arkansas becomes the first region to offer cryptocurrency to potential transplants.

“Northwest Arkansas has one of the most rapidly-growing areas in the nation, and now we are seeing even more rapid growth in our technology sector.”
Nelson Peacock is the president and chief executive officer of Northwest Arkansas Council.

“This expanded incentive offer — 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.”
Although the bitcoin opportunity is targeted at entrepreneurs and tech pros with expertise in blockchain technology, it is also open to all applicants who are interested in moving to Northwest Arkansas. Those interested in the incentive can apply online at Findingnwa.com/incentive, and applications will be reviewed by the Northwest Arkansas Council with support from The Center for Blockchain Excellence at the University of Arkansas.

In addition to the $10,000 worth of bitcoin, recipients will receive a street or mountain bike to take advantage of the region’s incredible mountain biking trails and paved paths. Alternatively, the recipients may choose to receive a membership for free to world-class cultural and arts organizations. Facilities include Crystal Bridges Museum of American Art and TheatreSquared, as well as Walton Arts Center.

This is the second installment of Life Works Here, which seeks to bring top talent to the area. For remote STEAM professionals, the $10,000 initial incentive remains available. Over 35,000 people have applied for the program since November 2020. They are from over 115 countries, 50 states and all walks of life.

“Northwest Arkansas has the potential to be a tech center in the heartland. There are incubators for startups, and there is an entrepreneurial spirit.”
Peacock.

Canoo, an EV manufacturer and distributor of electric vehicles announced that they will relocate their headquarters from the city. It is a sign of the area’s innovation.
Bitcoin and cryptocurrency have seen a significant increase in popularity over the last few years. It is accepted by many retail outlets and financial institutions. The role of blockchains in ensuring data security and privacy is central to cryptocurrency’s rise and acceptance by other industries and sectors.

The region touts the Blockchain Center of Excellence at the University of Arkansas — a critical asset for Northwest Arkansas’ growth as a leading tech hub. This Center is working with the Northwest Arkansas Council in order to offer technical advice and guidance to customers who have specific blockchain-related needs. It was founded in May 2018, with the goal of making the Sam M. Walton College of Business an academic leader in the research and education of digital ecosystems and blockchain-enabled technology.

“We think next-generation talent in our region is crucial to transform it into a hub of up-and coming tech innovators, and businesses.”
Mary Lacity is the director of the University of Arkansas’ Blockchain Center of Excellence.

We are excited that our region is leading the charge with Bitcoin and Bike. This will not only attract new talent but also increase interest in the blockchain-focused work being done in our region.
This initiative was made possible through the philanthropic support of Steuart Walton, Tom Walton and The Walton Family Foundation.

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