I've been working as a consultant for a large company in the midwestern US that does a lot of software development, both for internal use and for external services used by the company's clients.
The company can't seem to attract experienced software developers to move, only new grads (but people do stick around long after they become experienced), so they use a lot of consultants to fill out their teams.
In the past six months, I have done projects using Python/Django, AngularJS, D3, RoR, Hadoop/HBase, and other current technologies, so this definitely isn't a case where the technology stack is boring. Compensation and benefits are reasonable as well, considering the low cost of living.
So, HNers, what would entice you to consider working for a company outside of the red-hot tech hubs?
Why not ignore the the local cost of living and compensate at SV market rate levels? That way there is a tangible and obvious pro to the move: the delta between "tech-hub" cost of living and "flyover" cost of living.
If you scale compensation down to be relatively in-line with local cost of living you aren't really offering anyone a pro in the face of many cons (harder to find another job if this one doesn't work out, the general inertia of moving halfway across the country, likely less interesting social/cultural options, likely screwier rules when it comes to non-competes (than what you get in CA), etc.)