Friday, October 5, 2012

City Paying Thousands For Qualified 'Geeks'

City Paying Thousands For Qualified 'Geeks', This Tennessee locale is giving lucky tech professionals $11,250 toward buying a home there. Calling All Geeks: Chattanooga Pays Techies to Relocate, Chattanooga -- also known as Gig City -- recently announced Geek Move, an incentive that doubles as an emigrant program for the technologically savvy. It is meant to help one of Tennessee's largest and most economically diverse cities flourish into even more of a tech haven.

The initiative will award technology professionals $11,250 toward buying a home in the city. To the ten most qualified developers, Geek Move will pay for a second mortgage of $10,000, to be applied to closing costs and reducing their home's principal payment, which includes partial principal forgiveness.

Upon closing, approved geeks with the right set of skills are eligible for a lump sum payment of $1,250 to help cover moving expenses.

Yet as J.Ed. Marston, vice president of communications at the Chattanooga Chamber of Commerce explains, the program is less of a jump-start to the tech community and more of an effort to hasten its development.


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