The Arkansas Economic Development Commission and Gov. Asa Hutchinson launched the AEDC’s Competitive Communities Initiative evaluation program on Monday.
The new program, which will be led by the AEDC’s four-person community development team and four utility partners, is designed to identify how a community can be more competitive in landing economic development projects.
The program focus on four pillars: each participating community’s economic development organization, economic development funding, workforce narrative and product readiness.
The development of the program was a result of the AEDC contracting with consulting firm Vision First Advisors of Tallahassee and Orlando to complete an agency-wide strategic plan.
Hutchinson on Monday said Arkansas had won many projects, but had lost some to other states and this program could help it win more often.
“We cannot sell projects without having infrastructure, sites, workforce ready to go,” he said.
“And, whenever we’re able to convince the seller we’re ready to go, then, all of a sudden, we’re in business. And that’s what our future is about.”
To receive a Competitive Community designation, a community must demonstrate that it has a strong economic development organization; have enough funding to offer incentives or pay for any infrastructure a business might require; and show that it can provide the workers a business might require.
“The fourth pillar that is important in this Competitive Communities Initiative is that our products are ready, and that could be our sites,” Hutchinson said. “It could be the infrastructure. The more that we can say we have ready, then we have a product to sell and our wagon is full.”
The AEDC has partnered with Southwestern ElectricPower Co., Entergy Arkansas, Electric Cooperatives of Arkansas and OGE to host this program.
A Competitive Community designation will also include communities in more of the state’s responses to requests for information and provide communities more help from AEDC and utility partners.
Four communities — Hope, Newport, Van Buren and Helena-West Helena — are involved in a pilot version of the program but have not yet been designated Competitive Communities.
AEDC has two people on its community development team. The team, led by senior manager Matt Twyford, plans to hire two more members.
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