Arkansas Economic Development Commission announced Wednesday that the cities of Newport and Paragould have completed the Competitive Communities Initiative evaluation.
The program, which launched earlier this year, is designed to help communities be prepared to compete for jobs and investments. It identifies ways a community can be more competitive on several fronts, including economic development organizational structure, economic development funding, workforce and product readiness.
“Paragould has been a part of community development programs in the past, but this initiative is different in that it has made us take a good hard look at not only our community strengths but also our weaknesses,” Sue McGowan, the director of economic development at the Paragould Regional Chamber of Commerce, said in a news release. “By providing insight on how we can reduce those weaknesses — and hopefully turn them into strengths — we feel that Paragould is now better equipped to compete for economic development projects.”
The evaluation begins with an initial questionnaire detailing the local workforce; available and shovel-ready sites; funding sources; and information from the community’s economic development organization.
A team of evaluators uses the information to help communities understand any gaps or weaknesses that could affect economic growth, allowing them to create a plan to improve. Once the community makes the changes, it can attain the Competitive Community designation.
“We believe that Newport has the pieces to be a great location for new and expanding businesses, and Competitive Communities helped us make all of those pieces fit so that we can complete the puzzle,” said Jon Chadwell, executive director of the Newport Economic Development Commission.
Communities that attain the Competitive Community designation will be featured throughout AEDC marketing efforts. Competitive Communities in Arkansas must undergo a re-evaluation every two years to maintain their designation.
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