LITTLE ROCK, Ark. — Governor Sarah Huckabee Sanders, in collaboration with the Arkansas Economic Development Commission (AEDC) and the Arkansas State Legislature, has awarded $10 million in grants to 13 communities across Arkansas. The initiative is part of the state’s efforts to attract businesses by developing “company-ready” industrial sites.
The communities receiving the grants include: Arkadelphia, Berryville, Hope, Jonesboro, Little Rock, Malvern, Monticello, Morrilton, Newport, Prescott, Searcy, Stuttgart, and Texarkana.
Purpose of the Grants
The funding will be used to enhance industrial sites, making them more appealing to businesses looking to establish operations in Arkansas. These enhancements include infrastructure and utility upgrades, extending water and sewer lines, soil preparation, and due diligence studies to better market the sites’ development potential.
Olivia Womack, Director of Business Development for the AEDC, highlighted the importance of these upgrades:
“It can be infrastructure upgrades, utility upgrades, extending a water sewer line, doing soil work, or doing due diligence studies to help communities be able to better market their site and show its development potential.”
Application Process and Future Plans
Since the program’s announcement in June 2024, the AEDC received 28 applications. While the demand exceeded available funding, the commission hopes for another round of grants in the future, though no specific timeline has been established.
To qualify for the grants, applicants needed to own or have an option on industrial sites of at least 30 contiguous acres listed on the Arkansas Site Selection Database.
Grant Awards by Community
Here’s a breakdown of the funding awarded to each community:
- AR-TX Regional Economic Development Inc. (Texarkana): $2 million
- Jonesboro Unlimited (Jonesboro): $2 million
- Little Rock Port Authority (Little Rock): $2 million
- Economic Development Corporation of Clark County (Arkadelphia): $1,013,710
- Stuttgart Industrial Development Corporation (Stuttgart): $823,408
- City of Prescott (Prescott): $698,845
- Berryville Business Park (Berryville): $400,000
- Newport Economic Development Commission (Newport): $335,700
- Forward Searcy Inc. (Searcy): $314,165
- Conway County Economic Development Corporation (Morrilton): $109,800
- Southeast Arkansas Regional Intermodal Facility Authority (Monticello): $166,520
- Hot Spring County (Malvern): $133,250
- Hempstead County Economic Development Commission (Hope): $4,602
Positive Impact on Local Communities
The grants aim to position these communities as prime locations for business development, fostering job creation and economic growth. The awarded funds will help the state showcase its potential to prospective businesses by providing prepared, ready-to-develop industrial sites.
With this initiative, Arkansas continues to demonstrate its commitment to strengthening local economies and attracting new industries. Further updates on future grant cycles are expected as the program progresses.
