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Tulsa, Oklahoma, skyline. Photo: Jumping Rocks/Universal Images Group via Getty Images

Heartland cities are looking to take advantage of young professionals' sudden willingness to change addresses.

Driving the news: One America Works, which recruits for tech companies outside of Silicon Valley, is expanding into two new cities: Columbus and Indianapolis.

  • The plan is to start holding virtual recruitment events to connect local tech companies with out-of-town talent interested in relocating.
  • This expansion follows One America Works' success in recruiting talent to Pittsburgh during the pandemic.

Tulsa Service Year, a yearlong paid talent-development program for 2020 graduates, launched this week in Tulsa, offering $40,000 salaries and a $1,500 bonus to assist with relocation fees.

  • Tulsa is already a hub for remote workers, thanks to its Tulsa Remote program that incentivizes workers who can work remotely to relocate to the city.

Venture capital firm Revolution announced a minimum follow-on commitment to startups that received funding from its Rise of the Rest Seed Fund, which invests in startups outside the usual well-funded tech hubs.

  • "This policy will be in place for the next six months, to help bridge the companies we've backed, and maximize the number of jobs that can be created (or at least saved), as they focus on not just recovering, but reimagining a New Normal," Revolution CEO Steve Case wrote in a blog post.

Go deeper

Oct 13, 2020 - Economy & Business

Breaking down Microsoft's telework move

Microsoft's Redmond, Wash., headquarters. Photo: Wang Ying/Xinhua via Getty

Microsoft is the latest big company to embrace the work-from-home experiment, announcing it will allow all employees to telework up to 50% of the time and some employees to work remotely forever.

Why it matters: Microsoft's approach will be a test of whether the hybrid workplace model can succeed at a massive scale.

The consumer's massive "war chest"

Illustration: Megan Robinson/Axios

Economists expect the pace of economic growth to cool off now that government transfer payments like stimulus checks and emergency unemployment benefits are in the rearview mirror. But evidence suggests that the U.S. consumer is sitting on a lot of financial firepower that could be a key driver of growth in the quarters to come.

Why it matters: U.S. consumer spending is massive, representing about 70% of GDP.

The Fed takes on its own rules amid stock trading controversy

Photo: Al Drago/Bloomberg via Getty Images

New disclosures that showed Fed officials were active in financial markets set off a firestorm of criticism. Now the Fed may overhaul the long-standing rules that allow those transactions.

Why it matters: What officials actively traded was sensitive to the Fed decisions they helped shape, including the unprecedented support that underpinned a massive financial market boom.

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