Little Rock Regional Chamber Welcomes You to Capital Assets

by Capital Assets  on Monday, Feb. 25, 2019 12:00 am   6 min read

Little Rock Regional Chamber

No one loves the Little Rock region more than the Little Rock Regional Chamber. For over 150 years, the chamber has provided business leadership in nearly every major area of development. The chamber has helped create the city and region enjoyed today and it has provided the platform from which the community is seeing the most significant growth in a generation, resulting in national top 10 rankings in everything from cleanliness and green job growth to happiness and college graduates.

For as long as businesses, organizations and institutions bond together to conduct and protect commerce, the chamber will be there to lead the community to even greater heights. We invite you to see how we live, the enthusiasm we have for quality business relationships and the unique culture of how we relax and have fun. Our mission is to reveal a community and region rich with possibilities while respecting the history that makes us distinct.

LITTLE ROCK REGIONAL CHAMBER is an inclusive network of over 2,000 member businesses and organizations, staffed by a nationally recognized professional staff with over 100 years combined chamber/economic development experience. The Chamber, a private, member-supported, 501(c)6 organization, includes one of the nation’s highest percentages of Certified Chamber Executives and Economic Development Institute graduates.

METRO LITTLE ROCK ALLIANCE is a coalition of 12 counties (Clark, Conway, Faulkner, Garland, Grant, Hot Spring, Jefferson, Lonoke, Perry, Pulaski, Saline and White) dedicated to central Arkansas becoming recognized as the premier location for new and expanding business within the Mid-South.

ARKANSAS ECONOMIC DEVELOPMENT COMMISSION is the governor’s cabinet agency of more than 100 employees leading statewide economic development, creating targeted strategies that produce better paying jobs, promoting communities and supporting the training and growth of a 21st-century-skilled workforce.

ENTERGY TEAMWORK ARKANSAS, led by Danny Games, the economic development office of Entergy Arkansas is one of the largest private sector economic development initiatives in the country, it offers professional, proactive and resourceful expertise to companies searching for a new business location, an abundant workforce, innovative incentives, natural resources and an unsurpassed quality of life.

LITTLE ROCK CONVENTION & VISITORS BUREAU and NORTH LITTLE ROCK VISITORS BUREAU attract visitors, tourism and conventions to the region with international destinations, full-service convention facilities, over 6,000 hotel rooms and over 900 restaurants.

Key Chamber Personnel

Kevin Crass
Chairman, Little Rock Regional Chamber

Crass is a partner in the Litigation Practice Group at Friday, Eldredge & Clark, LLP and focuses his practice on significant, complex business litigation in federal and state courts including the defense of claims involving class actions, securities fraud, ERISA, business torts, trade secrets, patent and trademark infringement, product liability, environmental and toxic torts and breach of contract, among others. Crass also provides clients with representation before governmental bodies and counsels them in regulatory matters and has served as personal counsel to several of the State’s constitutional officers and has represented former Arkansas Governor Mike Huckabee since 1997.

Crass currently serves on the Board of the Eighth Circuit Court of Appeals Bar Association and also serves on the Board of Visitors of the UA-Little Rock, the Foundation Fund Board of the University of Arkansas for Medical Sciences and the Chair of the War Memorial Stadium Commission.


Jay Chesshir
President & CEO, Little Rock Regional Chamber

Contact
One Chamber Plaza
Little Rock, AR, USA 72201-1618
501.374.2001 (Phone)
501.374.6018 (Fax)

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Under Chesshir’s leadership the Little Rock Regional Chamber of Commerce has directly worked projects accounting for over $2.1 billion in new and expanded capital investment for the region, more than 15,000 jobs and $489 million in new annual payroll. Chesshir is entering his 13th year with the Chamber was elected in 2016 and 2017 as chairman of the Association of Chamber of Commerce Executives (ACCE) Board of Directors, representing more than 7,500 chamber professionals from over 1,300 chambers of commerce across the United States and Canada.

He currently serves on the University of Arkansas at Little Rock, College of Business Advisory Board, UA-Little Rock College of Engineering & Information Technology Leadership Council, Little Rock Technology Park Authority, The Venture Center Board and U.S. Chamber of Commerce Committee of 100. He is also a Ford Foundation Fellow of the ACCE Regionalism and Sustainable Development Program.


James Reddish
Executive Vice President, Little Rock Regional Chamber

Reddish has responsibility for the chamber’s full suite of programs, events, communications, sales and member relations. He also provides strategic guidance to the chamber’s economic and workforce development team. Reddish joined the Chamber in 2018 from the Council for Adult and Experiential Learning (CAEL) in Chicago, where he worked in over a dozen states with communities of every size, on issues ranging from comprehensive supply/demand analysis to career pathway mapping. He helped multiple regions structure industry sector partnerships and collaborated with community leaders in their efforts to drive deeper alignment between educational offerings and economic growth.

Prior to joining CAEL, James served as Vice President of Economic and Workforce Development for Greater Louisville Inc., where he led the organization’s program of work within economic development as well as education and workforce development.

Incentives

Incentive Programs
• Advantage Arkansas Income Tax Credit
• ArkPlus Income Tax Credit
• Create Rebate Payroll Cash Payments
• Digital Product and Motion Picture Industry Development Act
• Equity Investment Tax Credit
• Freeport Law
• Infrastructure Grants
• Property Tax Abatement
• Recycling Tax Credit
• Research & Development
• Sales Tax Reduction for Power
• Sales Tax Exemption for Manufacturing Equipment
• Sales Tax Reduction for Repair & Replacement Parts
• Targeted Business
• Tax Back Sales & Use Tax Refund
• Training Incentives

Arkansas’ performance-based incentives are nationally competitive and easy to use. For the first time in its history, the city of Little Rock has also funded performance-based incentives to complement those of the state. The chamber, in partnership with the Arkansas Economic Development Commission and the city of Little Rock, focuses on a business’ specific needs, conducts a cost-benefit analysis, and designs a tailored incentive package unique to that business.

► Personal Income Tax does not exist at the city or county levels, while state rates range from 1 to 7 percent.

► Corporate Income Tax does not exist at the city or county levels, while state rates range from 1 to 6.5 percent.

► Real And Personal Property Tax do not exist at the state level, but rates per $1,000 of assessed valuation (20 percent assessment ratio) for individuals and businesses are $70.10 for Little Rock, $66.80 for North Little Rock, and $62.90 for Maumelle.

► Sales And Use Tax is 6.5 percent for the state, with an additional 1 percent for Pulaski County and 1.5 percent for the City of Little Rock, 2 percent for the City of North Little Rock, and 1 percent for the City of Maumelle.

► Corporate Franchise Tax is .30 percent times the number of outstanding capital shares by par value for Arkansas corporations and .30 percent times the percentage of assets applicable to Arkansas for out-of-state corporations.

► Right To Work was granted in 1944, when the people of Arkansas amended the state constitution to ensure that all Arkansans would have the right to work, regardless of their affiliation or non-affiliation with any type of labor organization.

► Workers Compensation is one of the most progressive programs in the nation, with more than 230 insurance underwriters, a 53 percent decrease in the state’s premiums from 1996-2012, and the fourth best combined loss ratio of all 51 jurisdictions. Unemployment Insurance averages 3.8 percent for existing and new businesses.

Commercial Office Space

Occupancy of over 1,000 properties consisting of over 23.6 million square feet is estimated at 89 percent, with sizes ranging up to 700,000 SF. 

Utilities

AMERICAN ELECTRIC POWER is one of the largest electric utilities in the U.S., serving nearly 5.4 million customers in 11 states.

ELECTRIC COOPERATIVES OF ARKANSAS, long considered one of the top generation and transmission cooperatives in the nation, has assets of about $1.1 billion and annual energy sales of about $669 million, providing power to its members — the 17 electric distribution cooperatives — through its diverse generation assets, including three hydropower plants, three natural gas/oil-fired plants, and two natural gas-fired-only plants.

ENTERGY ARKANSAS, with as much as 70 percent of its electric power coming from emission-free nuclear generation, provides the region with a power mix that is one of the highest CO2-free electric generation percentages in the nation.

FIRST ELECTRIC COOPERATIVE CORPORATION is a not-for-profit electric distribution cooperative that was incorporated as the first electric cooperative in Arkansas. First Electric owns and maintains more than 9,600 miles of distribution power lines, nearly 200,000 power poles and 47 substations and is the second largest distribution cooperative in Arkansas.

CENTERPOINT ENERGY is a Fortune 500 electric and natural gas utility serving several markets in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas.

CENTRAL ARKANSAS WATER has two high-quality and well-protected raw water sources, Lake Winona and Lake Maumelle. Lake Winona, located in Saline County, is a scenic 1.9-square–mile reservoir that supplies approximately 35 percent of the daily, system-wide demand. Lake Maumelle, located in west Pulaski County, is a 13.9-square–mile reservoir that provides approximately 65 percent of daily, system-wide demand. 

LITTLE ROCK WATER RECLAMATION AUTHORITY, contributes to the long-term economic growth and vitality of the region by planning and investing in an infrastructure that can meet its corporate and residential needs, with over 75 years of providing impeccable service while protecting the environment. 

 

 

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