Arkansas Department of Commerce

Learning how to manage economic development organizations is a critical part of an economic developer's education. AEDC Executive Director Clint O'Neal, CEcD shared his insights with the Mid-South Basic Course participants this morning in Little Rock, Arkansas. Arkansas Economic Developers & Chamber Executives | Arkansas State Chamber of Commerce/Associated Industries of Arkansas

In July 2024, Taber Extrusions announced at the Farnborough Airshow that it would be expanding its facility in Russellville, Arkansas. Today, we gathered in Russellville to break ground on the project and celebrate the company’s growth. Taber is a leader in the extrusion industry, and we are proud that they have done business in Arkansas since the 1970s. We are committed to supporting great companies like Taber Extrusions as they grow, and we look forward to celebrating more milestones with them. Congratulations to Taber’s leadership team – Michael Tang and Chuck Stout - as well as the leadership in Russellville and Pope County: Mayor Fred Teague, Judge Ben Cross and Megan Selman.

Don't forget to apply for the VC Immersions program, which connects startups with top VC firms. Deadline to apply is midnight - see more information at the link below or apply here: https://lnkd.in/eaTvEVaM

Apply today for the VC Immersions program, hosted by the Northwest Arkansas Council, to engage with top-tier investors. The VC Immersions event will be held on May 14 and will help connect startup companies with investors as a way to accelerate venture capital funding and relationships. Apply here: https://lnkd.in/ex_YqXGF

Secretary of Commerce Hugh McDonald recently spoke with Roby Brock about Arkansas' growing economy and pending economic development legislation. Watch the full interview to learn more. "There’s a good labor force participation rate still going in the right direction. The unemployment rate, there are more Arkansans working than ever before. So I think all the right cylinders are still clicking in Arkansas." -Secretary of Commerce Hugh McDonald

Business is booming in Arkansas – and our state is leading the nation in GDP growth. In Q4 2024, Arkansas had the highest GDP growth – 5.1% - for the second consecutive quarter. With Governor Sanders’ leadership, our businesses are creating jobs and producing goods that are powering our economy. We look forward to continued growth in Arkansas!

Employment hit a record high again in February— 37 months in a row! The unemployment rate remains unchanged at 3.6%, while the national rate increased to 4.1%. Read more here: https://lnkd.in/eCaXcMEp #laborforce #recordhigh #employment

Last Friday, Jin Sik Yoon, Chairman and CEO of the Korea International Trade Association(KITA), visited Arkansas for a meeting led by Arkansas Secretary of Commerce Hugh McDonald and Arkansas Economic Development Commission Executive Director Clint O'Neal, CEcD.   In March 2024, Arkansas Governor Sarah Huckabee Sanders traveled to Korea to meet with company executives and local officials, building relationships between Arkansas and Korea. During her visit, Governor Sanders signed an economic cooperation agreement with KITA. Since then, AEDC has opened a representative office in Seoul, conducted a trade mission to Korea this past October, and met with leaders of KITA's new office in Dallas.   At the conclusion of the meeting, Secretary McDonald presented Chairman Yoon with an Arkansas Traveler, an honorary award presented to distinguished visitors of the state who serve as goodwill ambassadors for Arkansas. KITA Dallas Center | Cam Napier | Ik Jun Hwang | Bochra EL GHALI (보슈라) 剛寶羅 | Neal Jansen, CEcD | Dr. Cornelius Schnitzler

AEDC Executive Director Clint O'Neal, CEcD recently joined Dane Carlson on the Econ Dev Show Podcast to discuss the economic development industry and economic momentum in Arkansas. Listen to the podcast to hear Clint's economic development story and insights: https://lnkd.in/ebUS8VdE

Arkansas Sees “Benefit of the Bargain” in BEAD Round 2 – Results Announced; Intense Competition Drives Need for Round 3 With all the talk around the country lately about needing to see the “benefit of the bargain” in the BEAD program, we’re seeing it in real time on the ground here in Arkansas. The preliminary results from Round 2 our team is releasing today continue to show Arkansas is running one of the most efficient, market-driven BEAD programs in the country. We’re setting an example for the National Telecommunications and Information Administration (NTIA) and our fellow states on how to accelerate the program, foster intense competition, and drive down costs. Combining Rounds 1 and 2 produce the following preliminary results: ·23+ ISPs with at least one preliminarily selected bid ·271 preliminary selected bids ·47,000+ locations covered ·$248,000,000+ grant outlay ·$5,210 average cost per location ·97% of locations covered with 100% fiber projects Here’s the headline: Arkansas is on pace to reach 100% of eligible locations within our available budget, achieving the goal of universal connectivity in the state. Additionally, intense provider competition has driven the need for a third round of bidding. To be clear, The Arkansas State Broadband Office will be holding a third round of bidding not because we have too few applications, but because we still have too many! Of the 36,000 locations still available for bidding going into Round 3, 80% of them received bids from multiple ISPs in Round 2! In short, Arkansas’ BEAD Program design is seeing the benefit of the bargain, prioritizing efficiency, driving down costs, and saving taxpayer dollars. And we’re proving it in real time. To learn more about the Arkansas BEAD Program, please visit the Arkansas BEAD Webpage here: https://lnkd.in/erPA6dJG To learn more about The Arkansas State Broadband Office and our work, please click here: https://lnkd.in/dW4__4Uw. To receive updates from The Arkansas State Broadband Office, please sign up here: https://lnkd.in/eehCUHx6 #Arkansas #NaturallyConnected #ARConnect #ARCommerce #arpx #arleg #TopTenState #LeaderInTheSouth #Broadband #DigitalOpportunity #BEAD