Economic Development

Economic Development

There are currently 62,200 more Arkansans employed than there were in January 2015 when Governor Hutchinson took office. 

Source: Arkansas Department of Workforce Services, Nonfarm Payroll Jobs, Not Seasonally Adjusted, March 2018 (preliminary) data.

Job creation is broken down into three categories:

  1. Competitive Projects
  2. Facilitated Growth
  3. Market Driven Growth

Competitive Projects: These are projects that the Arkansas Economic Development Commission (AEDC) is responsible for creating — whether it’s new business, expansion of an existing business or the retention of a business currently in the state. An example of a Competitive Project is the recent expansion of HanesBrands in Clarksville. Learn more about AEDC

Facilitated Growth: Jobs created in an area (or industry) where the state has made a conscientious decision to invest funds to help stimulate or foster growth. For example, the state invests X dollars in tourism which resulted in Y total number of tourists to the state and Z total jobs.

Market-Driven Growth: Jobs created by market-driven growth come from our overall business climate in Arkansas, as well as all start-up businesses. Since assuming office in January 2015, Governor Hutchinson and the legislature have lowered taxes, reduced regulations, and increased the speed to market by cutting permitting time — all of which improve market-driven growth.

For more information on economic development in Arkansas, visit arkansasedc.com.

Economic Development Newsview all

12.19.2017

Gov. Hutchinson Lauds Statewide Economic Growth, Announces Launch of Interactive Job Creation Map

Read More
10.25.2017

Governor Hutchinson Announces Third AEDC Trade Mission to Asia; Focus on China and Japan

Read More

Newest Announced or Expanded Company

Caterpillar

Location:
North Little Rock

Date:
Jul 05, 2018

Company's Investment:
40,000,000

New Jobs:
250

New/Expanded:
expanded

Product/Services:
Manufacturing

Read Full Article →

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