LITTLE ROCK, Ark. — Arkansas Gov. Sarah Huckabee Sanders announced on Wednesday that $10 million will be awarded and disbursed among 13 Arkansas communities for industrial site development.
The governor joined the Arkansas Economic Development Commission (ADEC) to announce the awards through the Arkansas Site Development Program.
According to press release from the governor, the funding will be used to "enhance industrial sites across Arkansas, increasing their readiness for job-creating economic development projects."
As for the 13 communities receiving the funding, here's a breakdown, along with corresponding amounts according to the governor.
- 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
During the announcement, Gov. Sanders shared her excitement for what this funding could mean for the future of Arkansas.
“The sky is the limit for Arkansas’ economy when our government and private sector work together to grow investment and jobs,” said Gov. 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.”
The AEDC said that they received 28 applications for the Arkansas Site Development Program, which totaled to over $44 million in requested funding.
The awardees are able to use the funds for a range of different site development projects. Here's a look at how communities can utilize their share of the $10 million award, according to the governor:
- 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
- Other site development-related activities deemed necessary by AEDC to improve a site’s competitiveness
