AEDC awards $10 million to 13 Arkansas communities
JONESBORO, Ark. (KAIT/Edited News Release) – The Arkansas Economic Development Commission awarded $10 million to several communities to develop job-creating industrial sites and development projects.
According to Wednesday’s news release, Jonesboro, Newport, and Searcy are among the communities receiving funds.
AEDC received a total of 28 applications for the Arkansas Site Development Program, totaling $44,646,370 in requested funding.
- AR-TX Regional Economic Development Inc. (REDI) – Texarkana, $2,00,000
- Berryville Business Park – Berryville, $400,000
- City of Prescott – Prescott, $698,845
- Conway County Economic Development Corporation- Morrilton, $109,800
- Economic Development Corporation of Clark County – Arkadelphia, $1,013,710
- Forward Searcy Inc. – Searcy, $314,165
- Hempstead County Economic Development Commission – Hope, $4,602
- Hot Spring County – Malvern, $133,250
- Jonesboro Unlimited – Jonesboro, $2,000,000
- Little Rock Port Authority – Little Rock, $2,000,000
- Newport Economic Development Commission – Newport, $335,700
- Southeast Arkansas Regional Intermodal Facility Authority – Monticello, $166,520
- Stuttgart Industrial Development Corporation – Stuttgart, $823,408
The funds can be used for a range of site development projects, including the extension and improvement of public infrastructure to the site; right of way acquisition; easement acquisition; soil borings and analysis; construction costs for site improvements, including drainage improvements, easement, dozer or dirt work, grading, site mitigation, and site rehabilitation; due diligence study costs; and other site development-related activities deemed necessary by AEDC to improve a site’s competitiveness.
Eligible recipient locations are industrial sites of at least 30 contiguous acres of land, listed on the Arkansas Site Selection Database, and owned or optioned by the applicant.
“The sky is the limit for Arkansas’ economy when our government and private sector work together to grow investment and jobs,” said Governor Sarah Huckabee Sanders. “The Arkansas Site Development Program tells companies worldwide that Arkansas is open for business and will help each of the recipient communities attract new businesses.”
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