Spreading the tech sector out around the country even more is great, and things like this can be a step in the right direction. But a big part of why the Bay Area is what it is has to do with funding. Most VCs are there, and don't seem to be willing to move away. Hell, YC requires you to be there, at least during your time with them. And the concentration of tech talent means that it's always easy to find a new job, or even to start your own company.