10 ways communities can attract Web3 businesses to set up shop

cointelegraph.com:

Local communities are always in the business of attracting businesses. A diverse foundation of companies in a region brings many things with it, including new residents, higher tax receipts, and more and better educational, recreational and health amenities.

Forward-looking communities may well be looking for ways to become magnets for the next generation of tech businesses, including blockchain and crypto firms. As pioneers in the space, the members of Cointelegraph Innovation Circle know exactly what the industry’s entrepreneurs are looking for. Below, they share 10 tips to help community leaders persuade Web3 businesses to open their doors in their locale.

Encouraging collaboration between government and industry stakeholders is an important step in attracting new business to a region. Local governments can offer tax incentives and work with leaders in the blockchain industry to define and implement blockchain and crypto-friendly regulations. – Brad Spannbauer, Currency Hub

Directly integrating blockchain technology is a great way for local districts to encourage growth. For example, they can allow residents to pay for taxes, public services and even parking tickets with crypto. These use cases help kickstart adoption among locals, while also sending a clear message to Web3 companies that your jurisdiction is open for business. – Wolfgang Rückerl, ENT Technologies AG

Providing financial incentives to businesses that adopt blockchain technology may prove to be an effective strategy for promoting its wider adoption. Tax rebates, decreased license costs and other government-backed programs can be powerful tools for encouraging enterprises to use blockchain tech while also contributing to the formation of a more favorable