Northeast Arkansas receives $2.3 million for economic site development

LITTLE ROCK — A pair of economic development-based groups were awarded money from a state program Wednesday that helps areas with site development for possible future economic development projects.

The Arkansas Economic Development Commission announced that Jonesboro Unlimited will receive $2 million, while the Newport Economic Development Commission will receive $335,700 from the Arkansas Site Development Program.

Jonesboro Unlimited President and CEO Mark Young said the group was appreciative of the funding and will use the funding for a key project.

'Jonesboro Unlimited is grateful for the opportunity to partner with the state of Arkansas to improve the readiness of our industrial properties,' Young said.

'These funds will be used to provide industrial water service to over 600 acres in the Craighead Technology Park.'

Newport Economic Development Commission executive director Jon Chadwell said the money will allow officials to get some work done.

“The Newport Economic Development Commission is honored to receive a grant for improvements on our certified industrial site. We appreciate the leadership of the Governor and AEDC, who are investing in Arkansas communities to create a bright future for our state,” Chadwell said.

In a statement, Gov. Sarah Huckabee Sanders said the program has already shown dividends.

“The sky is the limit for Arkansas’ economy when our government and private sector work together to grow investment and jobs. 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,” Sanders said.

State officials also noted that the program is an example of state government, agencies, lawmakers and local communities working together on projects that can create future success in the state.

The program was created earlier this year to help with projects around the state. Officials said that in order to receive funding, a location must be an industrial site of at least 30 contiguous acres of land, be listed on the Arkansas Selection Database and be owned or optioned by the applicant.

The program can also help with extension and improvement of public infrastructure to the site, as well as right of way acquisition, easement acquisition and construction costs for site improvements including drainage improvements, dozer or dirt work and site mitigation and rehabilitation, according to the AEDC website.

Officials said AEDC received 28 applications this year, for nearly $45 million worth of work around the state.

In addition to Jonesboro and Newport, other cities around the state also received major funding this year.

They include:

• AR-TX Regional Economic Development Inc. in Texarkana – $2 million.

• Little Rock Port Authority – $2 million.

• Economic Development Corporation of Clark County in Arkadelphia – $1,013,710.

• Stuttgart Industrial Development Corporation in Stuttgart – $823,408.

• City of Prescott – $698,845.